About Tarmiye FinTech

Tarmiye Fintech is the first of its kind in Somaliland/Somalia, offering innovative financial solutions tailored for startups and MSMEs. It operates through two main components:

1.Tarmiye Fund: A unique access to finance model that provides startups and SMEs with a combination of loans and grants to support their launch and growth.

2.Tarmiye Crowdfunding : A dynamic platform that enables innovators to raise funds through local online payments via API.

Tarmiye vision is to establish a reliable payment gateway that supports both local and international payment gateways to empowers local businesses to sell their products globally.

In 2019, HarHub, Premier Bank, and Shaqodoon Organization launched the Tarmiye Fund to offers a unique, inclusive financing model designed for youth and women entrepreneurs who are often excluded from traditional financial services and affected by climate shocks.

Vision: To financially resilient and empowered Somali Businesses where individuals, communities, and entrepreneurs have direct access to the resources they need to build sustainable livelihoods and recover effectively from shocks, reducing dependency on traditional aid.

Mission:  Bridging the financial inclusion gap in Somalia by leveraging innovative technology through the Tarmiye Crowdfunding Platform, connecting Somali individuals, businesses, Somali Diaspora communities with diverse funding sources and tailored financial tools.

Tarmiye Fund Vision & Mission

Tarmiye Impact

462

BUSINESSES INVESTED

648

JOBS CREATED

2,116

CONTRIBUTORS

$313,545

TOTAL RAISDED TO DATE

$1,074,200M

TOTAL DISBURSED TO DATE

Tarmiye Crowdfunding

Tarmiye Crowdfunding Platform empowers individuals to support projects they believe in and enables entrepreneurs to raise funds for their ventures. Users can post project details, and with contributions from the crowd, they can unlock Tarmiye Fund and partner bank matching funds.

Leveraging local mobile money services, Tarmiye facilitates financial support for innovative projects, fostering community-driven entrepreneurship and innovation.

Tarmiye Platform vision is to establish a reliable payment gateway that supports both local and international payment gateways to empowers local businesses to sell their products globally.

Why Do We Offer Crowdfunding for Startups?

Crowdfunding is more efficient than traditional fundraising

  • Crowdfunding generates traction, social proof, and validation

  • It’s an opportunity for crowdsourced brainstorming to refine ideas

  • Crowdfunding helps innovators to gain early adopters and advocates

  • Crowdfunding doubles as a marketing tool and provides business exposure

Tarmiye Solves Unique Local Challenges

The unique benefits of crowdfunding and equity financing are leveraged through Tarmiye, ensuring that entrepreneurs who are unable to access traditional funds have the support and access they need to get their business off the ground.

  • Challenges Faced by Young Entrepreneurs

    • Difficulty in accessing suitable loans

    • Short term repayment periods if loans are secured

    • Collateral requirement by financial institutions, especially for startups

    • Limited alternative financing

    • Youth Startups are mostly affected

    • No special fund or consideration for youth exists

  • How We're Different

    • Limiting risk to encourage investment

    • No collateral is required for loans below $5,000 USD

    • Incread duration of payback

    • Increased grace period of 90 days

    • Alternative funding options (including crowdfunding)

    • Special considerations for low income families and internally migrated communities

    • Direct business through equity financing

  • Who Will Benefit?

    • Youth between the ages of 15-35 years of age

    • Those who have a viable business idea to invest in

    • Those who are ready to build their skills

    • Entrepreneurs and innovators who can raise the required matching funding for their business