XENO raises $150,000 from Nordic Impact Funds
- COVID-19 has reminded us how important it is to plan, save, and invest for financial goals such as emergencies.
- XENO has raised $150,000 from Nordic Impact Funds bringing total fundraising to $430,000 to date.
- The funding will power XENO’s rapidly growing goal-based investment service now available on MTN Uganda’s ★165★4★4#, Merchant Code: XENO.
KAMPALA – On 31 March 2020, XENO raised $150,000 from *Nordic Impact Funds* in a pre-seed round. The funding, which has boosted total fundraising to $430,000, will power the growth of this pioneering Ugandan startup. XENO is an investment management firm that provides *goal-based investment* by helping clients to plan, save, and invest for their financial goals.
XENO has managed client funds via their website in Uganda since 2017. A pioneer of technology-driven investment management in Africa, XENO helps clients to plan, save, and invest for financial goals such as secure retirement, build wealth, fund education, own a home, fund emergencies, and income drawdown.
Having recently *partnered with MTN Uganda*, XENO has made professional investment advice and management available to anyone looking to invest as little as UGX 10,000 ($3.70) via ★165★4★4#, Merchant Code: XENO. Without connecting to the internet, all the eleven (11) million customers of MTN Uganda can effortlessly set up an investment account, choose a financial goal, deposit funds, and monitor the growth of their investments. XENO is a world pioneer in the provision of professional goal-based investment management via USSD.
The firm invests client funds through four unit trust funds (XENO Uganda Money Market Fund, XENO Uganda Bond Fund, XENO Uganda Domestic Equity Fund, and XENO Uganda Regional Equity Fund) in partnership with KCB Bank Uganda Ltd as trustees, and Stanbic Bank Uganda Ltd as the custodian. XENO Investment Management Ltd is licensed and regulated by the Capital Markets Authority in Uganda.