VestedWorld, a traditional venture capital fund has announced the closing of Pre-Series A round to Kasha, a Rwandan based non-profit organisation that focuses on women’s health products and information serving women across all socioeconomic levels in urban and rural areas.
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A report indicates that the funds will enable the company scale up services in Kenya and provide an additional 120 mn women access to voluntary, quality contraception by 2020.
VestedWorld in a blogpost on Medium reveals that they have watched Kasha grow over the past two years adding and they are excited about the investment. Kasha is an e-commerce platform for women’s health products and information serving women across all socioeconomic levels in urban and rural areas.
VestedWorld pointed out that the reason they invested in Kasha is beacuse of its offerings for low-income earners in developing countries. The
They also acknowledged the presence of personal and health products in the market noting that most of them can be a trusted brand. VestedWorld further stated that, “Kasha is uniquely targeting women across income segments and reaching them where they are at. For low income communities, they are using a sales agent model along with USSD ordering, which doesn’t require smartphone access. These agents are trusted within their communities and are usually enterprising women themselves who are looking to improve their families’ lives.”
Another key reason why they settled to invest in the Rwandan e-commerce platform is that it caters to a variety of customers, including students, young professionals, low-income women, and new mothers. That means there’s a possibility of retaining a customer for life, from adolescence through adulthood.
Lavanya Anand, Vice President of VestedWorld said, “We are extremely excited to be joining Kasha’s team and congratulate them on all their hard work in reaching this stage and for putting up with our extensive due diligence requests. The fun is just beginning as this year will be spent scaling the business in Kenya. We are confident in this team to take advantage of all opportunities and tackle any obstacles that come their way.”
Featured Image Courtesy: Kasha