Deal Street

African Startup Funding Tracker


*Data updated daily at 18:00 EAT

Renew Capital Invests In Mozambique’s Roscas
Renew Capital Invests In Mozambique’s Roscas

Renew Capital is happy to announce its first investment in Mozambique. The Africa-focused impact investment firm that backs innovative companies with high-growth potential invested in Roscas, a fintech startup that aims to digitize traditional savings groups by integrating digital tools and financial products tailored to the informal sector’s needs.

The Mozambican fintech’s ultimate goal is to provide underserved individuals and MSMEs with the tools and resources they need to build a better future for themselves and their families. With a robust multichannel strategy embracing platforms such as WhatsApp, USSD, and mobile applications, Roscas aims to ensure its suite of financial products reaches its target audience with unparalleled ease.

The decision to invest in Roscas underscores the increasing acknowledgment of the role innovative financial technology solutions play in fostering economic growth. We are delighted to support the team in achieving their goal, enhancing their services, and broadening their impact,” says Licinio Chissano, investment and project manager at Renew Capital.