IDF Capital
33 Fricker Road, 2nd Floor, Illovo Boulevard, Sandton, South Africa
Overview
IDF Capital is an associate of Identity Partners, an investments holding company established and owned by black women. IDF Capital was established on 01 March 2008, to exploit the opportunity of profitably investing in the entrepreneurial SME landscape by providing appropriate financial and non-financial products and support to unlock value of the SME sector. IDF Capital aspires to be more than just another African business. It is our goal to become catalysts of economic growth across Africa by supporting people on their entrepreneurial journey. Our bespoke service offering gives entrepreneurs the boost they need to grow operationally, and become financially independent through leveraging our experience and knowledge of the African market. We are driven to provide continued sustainability of African businesses through capital and intelligent support. We believe in the power of small businesses to facilitate trade and create jobs.
- Total investments
- 2
- Lead investments
- 2
- Investments · 12mo
- 1
- Active investors
- 2
Investment portfolio
- Lupiya
Led · Series A · Feb 2026
Founded in 2016 by Evelyn Chilomo Kaingu, Lupiya offers mobile-first lending products that allow individuals and small businesses to access credit without traditional collateral requirements. The platform has broadened its services to include Lupiya Pay, a digital payments solution, and is developing embedded finance partnerships to deepen customer engagement. By leveraging technology, Lupiya targets Zambia’s sizable unbanked and underbanked segments, positioning itself as an inclusive alternative to traditional banks. The company intends to use new capital to strengthen its core technology stack, introduce additional financial products, and scale its operations into other Southern and East African markets. Although specific revenue or user figures were not disclosed, management highlights growing demand for digital credit solutions across the region. The firm’s expansion strategy centers on both product diversification and geographic growth, aiming to become a regional leader in digital financial services.
- Alma Clinics
Led · Equity · May 2024
Alma Clinics is a nurse-led, tech-enabled private primary healthcare clinic founded in July 2020 by CEO Sibongile Manganyi Rath. It operates a digital platform (Alma e-Health) and patient app that enable virtual doctor escalations, analytics-supported clinical decision making, and patient education. The chain currently runs six clinics serving more than 4,000 patients a month (32,000 annual visits in 2023) and plans to expand to 35 sites across South Africa within 1.5–3 years to reach 300,000 annual patient visits by 2028. Alma's model places nurse-led clinics in strategic shopping-centre locations offering affordable, preventative care for lower-income groups to ease pressure on public facilities. The company projects employment of at least eight staff per clinic and expects the expansion to create 232 direct permanent jobs at 29 additional clinics. Its CEO invested personal time and funds into building the business and platform, and the company is positioning itself as a model for National Health Insurance delivery.