The African firm Verdant Capital recently opened a revolving credit facility of USD 2.5 million for South Africa’s Enable Capital, which funds small and medium-sized enterprises (SMEs) that build fiber telecommunications infrastructure, especially outside of wealthy areas.
Tag: Verdant Capital
MICROCAPITAL BRIEF: Lipa Later, Mastercard Partner on Buy Now / Pay Later Services in Africa
Lipa Later, a Kenyan financial technology (fintech) firm active in four countries, has partnered with US-based Mastercard to expand its merchant network and technological infrastructure in support of the “buy now-pay later” options that it offers online and in-store consumers. According to
MICROCAPITAL BRIEF: Patasente Agricultural Trading Platform Accesses Credit Line Via Verdant Capital for Onlending, Invoice Discounting in Uganda
Mauritius-based Verdant Capital, a corporate finance firm, recently facilitated a revolving credit account for Patasente, a Ugandan firm operating a digital trading platform for actors in agricultural value chains. The new facility will fund
MICROCAPITAL BRIEF: Mogo Kenya Borrowing $7m from Verdant Capital Hybrid Fund to Boost Vehicle Ownership
Mauritius-based Verdant Capital recently announced that it will lend USD 7 million from its Verdant Capital Hybrid Fund to Mogo Kenya, a subsidiary of Latvia-based Eleving Group, to fund two-, three- and four-wheeled vehicles – some powered by electricity – for self-employed taxi and delivery drivers. The loan is structured in two tranches,
MICROCAPITAL BRIEF: Fintech Zeepay Nets $10m in Debt Financing, Expanding Digital Wallet Services in Africa, Latin America
Verdant Capital, an African corporate finance firm, recently announced it has raised USD 10 million in “medium-term” debt funding for Zeepay, a financial technology (fintech) company serving 20 countries in Africa as well as – via partners – markets in the Americas and Europe. Zeepay, which has offices in Ghana and the UK, plans to use the funding to expand:
MICROCAPITAL BRIEF: Planet42 of South Africa Raises $3.4m in Equity from Naspers, Expanding into Mexico
Planet42, a financier of vehicles that is based in South Africa, recently acquired USD 3.4 million in equity funding from Naspers Foundry, a unit of the global technology investor Naspers, which is also based in South Africa. Meanwhile, Planet42 is establishing its operations in
MICROCAPITAL BRIEF: Retail Capital Borrowing $10m from Triodos Investment Management for Advances to SMEs in South Africa
Retail Capital, a South African lender to small and medium-sized enterprises (SMEs), recently raised ZAR 150 million (USD 10 million) in debt capital from Triodos Investment Management, a Dutch impact investor. Retail Capital issues collateral-free loans to retailers, in amounts based on their monthly cash flow. Since it was established in 2011, Retail Capital has served
MICROCAPITAL BRIEF: Bridge Taxi Finance of South Africa Borrows $20m to Boost Leasing Services
Bridge Taxi Finance, which is based in South Africa, recently borrowed ZAR 300 million (USD 20 million) from a group of unidentified “international impact investors” to expand its leasing of minibus taxis with vehicles that are safer and less polluting. In addition to leasing vehicles, the firm provides
MICROCAPITAL BRIEF: MFS Africa Acquiring Baxi to Expand Digital Payment Network for SMEs into Nigeria
Mobile Financial Solutions (MFS) Africa, a digital payments network based in South Africa, recently announced it will acquire Baxi, a platform facilitating online payments for small and medium-sized enterprises (SMEs) in underserved communities in Nigeria. Verdant Capital, a corporate finance firm that specializes in mergers and acquisitions,
MICROCAPITAL BRIEF: Alpha Direct of Botswana Expands Insurance Service to Zambia, Plans Equity Raise
Botswana-based insurance underwriter Alpha Direct recently expanded its operations to Zambia under the name Alpha Insurtech Zambia. Alpha Insurtech is partnering with Zambia-based General Alliance Insurance to
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: Tugende Expands Leasing Products to Finance Boat Engines for Fishing in Uganda
Tugende, a technology-driven, lease-to-own firm, recently expanded its product portfolio to finance boat engines for informal workers in the fishing industry in Uganda. The company provides “financing for income-generating assets,” such as motorcycle taxis; associated resources, such as insurance and training; and digital profiles demonstrating
MICROCAPITAL BRIEF: Rent-to-Own Car Financier Planet42 of South Africa Secures Final Tranche of $13m Debt, Equity Package
Planet42, a car financier in South Africa, recently secured the closing portion of a funding package arranged by Verdant Capital, an African financial advisory firm, totaling USD 13 million in debt and equity. The names of
MICROCAPITAL BRIEF: Motorcycle Leasing Company Tugende Raises $10m in Debt, Equity for Growth in Uganda, Kenya
Tugende, a company specializing in leases for motorcycle taxis known as boda-bodas, recently raised USD 10 million in debt and equity capital from a group of investors, bringing the size of the firm’s balance sheet to USD 30 million. The one investor that has been identified is Mobility 54,