Goodwell Investments raises USD 24.5 Mn for Impact sectors in Sub-Saharan Africa

By  |  February 9, 2018

Goodwell Investments, an Amsterdam based firm that invests in companies that offer products and services to un(der)served people to meet their increasing demand for affordable and quality basic products, has raised USD 24.5 Mn from over 30 investors.

Its African portfolio companies in the fintech field include Paga (Nigeria), Nomanini (South Africa) and Musoni Systems (pan-African), and in mobility tech WhereIsMyTransport (pan-African).

The investments will be focused on financial inclusion, fintech and inclusive growth in sectors providing basic goods and services and income generation opportunities to the underserved in Africa. As per Goodwell, it is convinced that if un(der)served consum’ers had access to these basic services, it would contribute to a more sustainable and inclusive society. This objective is best achieved by providing capital and management support to companies that deliver these products and services.The firm provides early stage equity to high growth high impact businesses, with a heavy focus on the digital economy.

Goodwell’s 25 portfolio companies have reached over 12 million households with more than USD 1.7 billion in financial products and services, and employ more than 30,000 employees. The firm has recently launched uMunthu, a new €100m fund for Sub Sahara Africa, that will invest in financial inclusion, agribusiness and other inclusive growth sectors with a heavy focus on the digital economy.

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