XENO, a Ugandan online investment advisory startup company, has raised US$150,000 from Nordic Impact Funds. XENO is an investment advisory startup that assists clients to plan, save, and invest their money in a diversified investment portfolio using artificial intelligence after assessing each customer’s unique circumstance. The company was established in 2017 by Aéko Ongodia who was previously a fixed income portfolio manager at NSSF Uganda as well as the Bank of Uganda. The funding raised will be used to expand marketing capabilities in a market where it already has over 1,200 customers on its platform.
Nordic Impact Funds is an impact investor that invests in mid-stage companies with proven impact and profitability and are in the process of scaling their business model. The fund focus is in agribusiness, education, health and basic services. The fund also has mandate to invest gender and climate smart within the East African region.