MICROCAPITAL BRIEF: Abler Nordic Leads $10m Equity, Debt Investment Round for Ergos, Agtech Offering Crop Storage in India

Abler Nordic, a public-private partnership whose investors include the Danish and Norwegian governments, recently led the Series B fundraising round of Indian agricultural technology (agtech) company Ergos, which offers crop storage and a digital platform linking farmers to markets. The funding round comprised

MICROCAPITAL BRIEF: Peruvian Fintech Lender Prestamype Concludes $5m Equity Funding Round Led by Acumen Subsidiary ALIVE Ventures, Oikocredit

The Peruvian lender Prestamype recently raised USD 5 million in equity in a pre-Series A funding round. The investment package was led by

MICROCAPITAL BRIEF: First Consult, Mastercard Foundation, Seek to Create 400k Jobs in Ethiopia via Access to Finance, Wraparound Support for MSMEs, Entrepreneurs

Ethiopia’s First Consult and the Canada-based Mastercard Foundation recently launched a programme intended to increase financial inclusion and support 72,000 micro-, small and medium-sized enterprises (MSMEs) in Ethiopia to

MICROCAPITAL BRIEF: Accion, Sturgeon Lead $6.4m Equity Round for Trukkr, Fintech Serving Trucking SMEs in Pakistan

Trukkr, a Pakistan-based financial technology (fintech) firm, recently obtained USD 6.4 million in a funding round led by two impact investors, US-based Accion Venture Lab and UK-based Sturgeon Capital, with placements also made by Al Zayani Venture Capital, Haitou Global and Peter Findley. The breakdown

MICROCAPITAL BRIEF: R5 Raises $7m in Equity Investment Round Led By Global Founders for Vehicle-related Fintech, Insurtech in Colombia

R5, a Colombian provider of financial technology (fintech) and insurance technology (insurtech) services, recently raised USD 7 million in an investment round led by Germany-based Global Founders Capital. Also participating were US-based Accion Venture Lab, Costa Rica-based Carao Ventures, US-based Endeavor Catalyst and Chile-based Magma Partners. Neither the

MICROCAPITAL BRIEF: Bankingly of Uruguay Raises $11m in Equity Round Led by Dalus Capital to Help Financial Institutions Boost Digital Inclusion in Africa, Asia, Latin America

Uruguay’s Bankingly recently secured an investment package totalling USD 11 million, which it plans to use to expand in Latin America and Africa as well as enter Southeast Asia. Bankingly provides financial institutions with software-as-a-service (SaaS) that helps them serve customers via websites, mobile apps, chatbots and other tools, thus “facilitating the financial inclusion of millions of people…”. Bankingly CEO and Founder, Martin Naor, expressed the hope that

MICROCAPITAL BRIEF: Khazna of Egypt Raises $38m in Series A Round Led by Quona, 3 More Fintechs Join in Netting Investments from Nclude Fund

Nclude Fund, which was launched in 2022 primarily to focus on financial technology (fintech) in Egypt, has invested unspecified amounts of funding in four startups: (1) Khazna, a financial services app targeting the underbanked; (2) Lucky, an app offering consumer loans and loyalty rewards; (3) Mozare3, which helps small-scale farmers and food processors find funding; and (4) Paymob, an online payment platform that operates in the Middle East and Africa. Khazna also raised funding from

MICROCAPITAL BRIEF: Fintech Flutterwave Raises $250m in Equity Round Led by B Capital, Eyes Expansion Beyond Africa

Flutterwave, a US-based financial technology (fintech) firm active in 34 African countries, recently raised USD 250 million in a Series D equity round, giving it a valuation of USD 3 billion. The funding round was led by US-based investment firm B Capital Group, with three other US-based investors also buying into the company for the first time: Alta Park Capital, Lux Capital and Whale Rock Capital. Other participants in the round were previous investors in the firm,

MICROCAPITAL BRIEF: Fintech Finclusion Assembles $20m in Equity, Debt Investment Round for Transformation into Bank, Expansion to Mozambique, Uganda

Eight individual investors reportedly are among the equity participants in a recent funding package assembled by Finclusion Group, a Mauritius-based financial technology (fintech) firm serving five countries in Africa. A majority of the package, which totaled the equivalent of USD 20 million, was in the form of debt from unspecified “local-currency funds in Eswatini and South Africa.” Finclusion plans to use the fresh cash to

MICROCAPITAL BRIEF: AXA, Acumen’s KawiSafi Lead $16m Equity, Debt Investment Round in Sistema.bio, Provider of Biogas Digesters

KawiSafi Ventures, a Kenya-based fund managed by US-based Acumen Capital Partners, and AXA IM Alts, which is controlled by France’s AXA Group, recently led an investment totaling USD 15.6 million in Sistema.bio, a Mexico-based biogas company that is active on four continents. The funding package includes

MICROCAPITAL BRIEF: Fintech Mambu Secures $265m in Equity Funding Round Led by EQT to Expand Core Banking Platform for Microfinance, Other Institutions

Mambu, a German software-as-a-service (SaaS) banking platform founded in 2011, recently raised EUR 235 million (USD 265 million) in Series E funding, valuing the firm at EUR 4.9 billion (USD 5.5 billion). EQT Growth, a Sweden-based private equity investor, led the funding round. EQT Growth is a first-time investor in Mambu and is joined by

MICROCAPITAL BRIEF: CredAvenue Raises $90m in Equity Round Led by Sequoia for Platform Connecting Lenders, Borrowers in India

CredAvenue, a service that facilitates transactions between lenders and institutional borrowers in India, recently raised USD 90 million in Series A funding. Sequoia Capital India led the round of funding, with participation from

MICROCAPITAL BRIEF: Creation Investments Leads $30m Debt, Equity Funding Round for ReshaMandi, B2B App for Silk Farms, Manufacturers, Retailers in India

ReshaMandi, business-to-business (B2B) marketplace app serving 35,000 farms, manufacturing businesses and retailers active in the silk industry, recently raised USD 30 million in debt and equity. Creation Investments, a US-based alternative investment manager,

MICROCAPITAL BRIEF: Impact Platform Capshift Closes $5m Equity Funding Round for Investment Infrastructure

Capshift, a US-based facilitator of impact investments, recently closed an investment round totaling USD 5 million to expand its “technology platform, impact investment research database and advisory capabilities.” Capshift defines impact investing as that “made with the intention to generate positive, measurable, social and environmental impact alongside

MICROCAPITAL BRIEF: SoftBank Leads $400m Equity Funding Round for Fintech OPay of Nigeria as it Eyes International Expansion

The SoftBank Vision Fund 2, a vehicle of the Japanese conglomerate SoftBank, recently led an investment package totaling USD 400 million in the Nigeria-based financial technology (fintech) firm OPay, a mobile platform for sending payments. The funding round values

MICROCAPITAL BRIEF: I&P Leads $8m Debt, Equity Funding Round for Zeepay to Expand Mobile Money Services in Africa

Investisseurs & Partenaires (I&P), a France-based investor in small and medium-sized enterprises (SMEs) in sub-Saharan Africa, recently led a funding round for Zeepay, a financial technology (fintech) company with offices in Ghana and the UK, to expand Zeepay’s digital wallet services to more countries in Africa. The funding round comprises USD 3 million in equity from I&P, USD 800,000 in equity from Ark Holdings, USD 800,000 in

MICROCAPITAL BRIEF: Avla Raising $20m in Equity Round to Be Led by US-based Creation Investments to Expand B2B Insurance Offerings in Chile, Mexico, Peru

US-based Creation Investments Capital Management recently announced it is leading an equity investment of USD 20 million in Avla, a Chile-based business-to-business provider of insurance, surety bonds and collections services in Chile, Mexico and Peru. The firm’s insurance products include coverage for

MICROCAPITAL BRIEF: Amazon Leads $10m Equity Funding Round for M1xchange, Provider of Invoice Discounting for MSMEs in India

M1xchange, an India-based online exchange for receivables held by micro-, small and medium-sized enterprises (MSMEs), recently raised USD 10 million in a funding round led by US-based retailer and technology company Amazon, with participation from venture capital firms Beenext of Singapore and current US-based investor Mayfield. M1xchange’s other investor is SIDBI Venture Capital, an