Participated · Series A · Apr 2025

OmniRetail digitizes order management for FMCG manufacturers, distributors and informal retailers across Nigeria, Ghana and Ivory Coast. It serves 145 manufacturers, more than 5,800 distributors and over 150,000 retailers across 12 cities, supported by a third-party logistics network of 1,100+ vehicles and 85 local logistics partners. The company embeds finance via Omnipay, which processed over ₦1.3 trillion in transactions last year and disbursed ₦19 billion monthly in inventory credit with near-zero defaults. OmniRetail pursues an asset-light "network of networks" model that delivered profitability: it was EBITDA positive in 2023 and net profitable in 2024. The 2024 acquisition of Traction Apps added full-stack payment capabilities, POS terminals, PSSP and Super Agent licenses and retailer-level sales data. With new capital the company plans to deepen embedded finance products, expand its retailer base and product categories (personal care, home care, cold storage), upgrade infrastructure, enhance credit underwriting and strengthen partnerships with domestic debt providers while pursuing a local debt raise to scale its loan book.

Participated · Series B · Jan 2024

Good Nature Agro is a for-profit social enterprise founded in 2014 that works with small-scale farmers across southern Africa. It supplies high-quality legume seed and commodities and provides finance and training to help farmers increase incomes and transition from poverty toward the middle class. The company describes itself as tech-enabled while valuing personal, face-to-face relationships in the fields and factories. Good Nature engages the full value chain—connecting growers, aggregators, processors and consumers—to keep farmers at the center of agricultural supply chains. It closed an $8.5 million Series B equity financing to support growth and deepen farmer engagement. The company plans to use the capital to reintegrate whole farm income, develop genetic solutions for greater yields and resilience, and pursue farmer-centric innovations. Good Nature Agro Products (GNA) works with approximately 30,000 smallholders to produce seeds for replanting and commodities for consumption or processing across four legumes: groundnut, cowpea, soybean, and beans. The company focuses on open-pollinated varieties and seed research to adapt varieties to local terroirs and smallholder needs. GNA’s activities aim to improve soil fertility through legume cultivation and increase access to nutritious, protein-rich foods. The enterprise plans to expand processing capacity by building a new factory in Lusaka while strengthening seed production and R&D at its historical headquarters in Chipata, Eastern Zambia. The expansion is intended to stabilize domestic supply, open export markets, create jobs, and reinforce the local value chain. GNA was founded in 2014 and positions legume value chains as a pathway to higher-value, export-driven agriculture for Zambian farmers. Good Nature Agro is a Zambian agritech social enterprise that develops and supplies legume seed varieties and provides full-farm services to smallholder farmers. The company uses a 'Source' model that supplies high-quality seeds on loan, deploys Private Extension Agents (PEAs), offers customised input packages, guaranteed offtake contracts, and financial planning. GNA aims to support 15,000 small-scale farmers and reports participating growers earn three to four times more than when farming maize, with claims it can triple incomes within 24 months. The startup plans to use new capital to build value-add processing infrastructure in central and eastern Zambia, expand full-farm extension services, connect farmers to large agribusinesses and food processors, and advance its seed breeding program. Its model emphasizes improved land health via legumes, increased soil fertility, and predictable, well-documented cash flows for farmers while maintaining personalised advisory services as it scales.

Led · Series A · Dec 2023

Inclusivity Solutions, founded in 2015, builds, develops and manages inclusive embedded digital insurance solutions and distributes them through mobile operators, insurance providers, and other digital partners. Its core product includes an open-API, no-code platform that lets insurers and distribution partners launch a wide range of insurance products in a few hours. The company focuses on providing straightforward, affordable insurance via mobile phones to underserved populations. It currently serves over two million customers across eight African markets. The business plans pan-African expansion and aims to operate in at least 12 African markets by the end of 2024. The recent funding will be used to support that expansion and continued investment in its platform. Inclusivity Solutions designs, builds and operates inclusive digital insurance solutions and a backbone technology platform called ASPin that underpins three existing products. The company partners with banks, mobile operators, insurance companies and other distribution partners to deliver insurance through digital channels. It has launched initiatives in Cote d’Ivoire, Rwanda and Kenya in partnership with Orange, Airtel and Equity Bank’s Equitel. Its hospital cash and life products have provided protection to more than 700,000 people. The company recently completed the second tranche of its Series A, bringing the round to a total of US$2.6m. The funding will be used to deepen presence in existing markets, support further international expansion and accelerate innovation in ASPin. Inclusivity Solutions, founded in 2015 by CEO Jeremy Leach, designs, builds and operates inclusive digital insurance solutions delivered through partnerships with mobile operators, insurance companies and other distribution partners. Its products have launched in Ivory Coast, Rwanda and Kenya via partners including Orange, Tigo, Airtel and Equitel. The startup says its partnerships have provided cover to more than 530,000 people to date. Management plans to deepen its footprint across East and West Africa and to pursue opportunities in the Middle East and Asia Pacific over the next five years. The company focuses on simple, affordable products accessible on basic mobile phones to reach under-served consumers.

Participated · Series C · Dec 2023

Copia Global is a decade-old Kenyan e-commerce and fintech platform targeting mid- and low-income consumers in rural areas using a network of local agents and logistics. The company operates a network of over 50,000 agents who are small business owners and has served over 2 million consumers, with most orders placed offline via agents, USSD, or phone. Copia has digitized its agent network, increasing agent app usage from 5% to 80% in a year, and plans to further digitize its millions of consumers, including exploring smartphone financing models. The company has experienced roughly 100% annual growth in recent years and expects annual revenue to exceed $60 million by the end of 2023. Facing tighter capital markets, Copia cut at least 700 roles, reduced Kenyan headcount by 25%, and closed its Uganda business as it shifts from expansion to achieving profitability in Kenya. To date it has raised over $120 million, including a $50 million Series C in January, and maintains pan-African expansion plans to enter 14 additional countries after reaching profitability in Kenya. Copia Global operates a B2C e-commerce service built to reach middle- and low-income African consumers using mobile technologies, a network of local agents, and proprietary Copia Logistics. The company recruits and trains small business owners as branded agents who act as local sales points and aggregated delivery locations. That agent network comprises roughly 30,000 agents (77% women) and enables deliveries in 24–48 hours without charging customers a delivery fee. Copia reports about 1.4 million unique customers, roughly doubling year-over-year, and has fulfilled more than 10 million orders to date. The model is designed for profitability in rural and hard-to-reach markets by aggregating orders and streamlining supplier relationships. Copia plans to scale further across East Africa (Kenya, Uganda, and later Rwanda and Tanzania) and is evaluating expansion into additional African markets. Copia is a Nairobi-based e-commerce catalogue and delivery service founded in 2013 by Tracey Turner and Jonathan Lewis. The company uses mobile technology and a network of over 5,000 local agents and shopkeepers to deliver consumer goods and services to underserved rural customers. Copia emphasizes trust via reliable delivery, quality products, low prices and strong customer service as the basis of its model. To date the firm has fulfilled more than three million orders. The company plans to use new funding to expand across Kenya and into other African markets. Recent governance additions include appointments of Isaac Awuondo and Bettry Mwangi to the board. Copia is a consumer-goods catalogue and delivery service that uses technology and a network of over 3,000 local agents to reach underserved rural customers. The firm serves about 40,000 consumers and executes over 80,000 orders a month, with prepaid orders typically delivered in two to three days. Copia says customers save up to $1.50 per order in transport costs and an hour of travel time versus travelling to a major city. The company has invested in logistics infrastructure, including a 4,500 sqm central distribution centre in Nairobi. Management plans to use new capital to expand the company’s geographical footprint within Kenya and eventually into other countries. Crunchbase estimates Copia had raised roughly $4 million prior to this deal.

Led · Series C · Nov 2021

MFS Africa, founded in 2009 by Dare Okoudjou, operates a pan‑African payments gateway that merges fragmented payment schemes to enable peer-to-peer and business transactions across borders. The platform supports a broad range of financial services including bank accounts, prepaid cards and virtual debit cards. It connects more than 320 million mobile money wallets across 35+ African countries and 700 corridors. The company has pursued inorganic growth via acquisitions such as Beyonic and the pending acquisition of Baxi, which provides access to over 90,000 agents in Nigeria. MFS plans to double down on regional expansion, open more offices across the continent and in the U.S. and China, and is working on interoperability between African and Chinese payment networks starting from Nigeria. It has moved its headquarters from Mauritius to London and intends to strengthen GRC, treasury and liquidity pools, hire more talent and continue investing in other African tech startups. MFS Africa is a Johannesburg-based mobile payments services provider founded in 2009 by Dare Okoudjou. The company has grown its network into a full‑range provider for digital payments across Africa, aiming to open financial services to those excluded from traditional banking. Its core product is mobile payments and digital-payments infrastructure that connects financial services players across the continent. The firm said the new investment will help better connect MFS Africa with opportunities and financial services players in Asia and boost cross‑border trade. Partners such as Equator Capital Partners and FSD Africa are expected to deepen links to global and regional financial institutions and support regulator and policymaker engagement. MFS Africa frames its work around a mission of financial inclusion for underserved customers. MFS Africa operates a digital payments network that provides a single access point for global organizations to reach and transact with millions of African consumers and businesses across networks, borders and currencies. Led by founder and CEO Dare Okoudjou, the company connects over 170 million mobile wallets through 100+ partners, including Airtel, Ecobank, MTN, Orange and Vodafone across 55 markets. The company has offices in Port Louis (Mauritius), Accra (Ghana), Douala (Cameroon), Lagos (Nigeria), London (United Kingdom) and Johannesburg (South Africa). MFS Africa raised $4.5m in a Series B round led by LUN Partners Group, with participation from Goodwell Investments and several angel investors. It intends to use the funds to accelerate the expansion of its network in Africa. As part of the deal, MFS Africa will work with LUN Partners Group, its portfolio companies, and investor base to boost financial inclusion in countries targeted by China’s ‘Belt and Road’ initiative.