Participated · Series B · Dec 2023

HAKKI AFRICA develops an algorithmic credit-scoring system and supplies used-vehicle loans targeted at taxi drivers who lack access to traditional banking. Since its founding in March 2019 and headquartered in Minato-ku, Tokyo, the company has financed more than 2,000 taxi drivers, helping them secure vehicles and stable incomes. Its core product is a machine-driven credit-scoring and lending platform offered to drivers and to microfinance/small financial institutions. The firm says this approach reduces lending risk and contributes to local economic development. HAKKI AFRICA plans geographic expansion to South Africa and India beginning in 2025 and will continue scaling its Kenya used-car loan operations. The company’s stated mission is to increase access to credit and create new credit histories for the financially excluded in emerging markets. HAKKI AFRICA builds algorithmic credit-scoring systems and supplies microfinance products aimed at enabling taxi drivers in Kenya to buy vehicles despite lacking traditional bank credit profiles or down payments. The company applies alternative and previously unused data to mechanize credit decisions and reduce lending risk. Its core product is vehicle-purchase finance secured by used cars, offered through its Kenyan subsidiary. HAKKI frames its mission around expanding financial inclusion for the estimated 1.8 billion people in emerging markets who face barriers to access. Financially, the firm reports strong topline growth while its Kenya subsidiary has posted operating and recurring-profit profitability for three consecutive periods, and consolidated recurring profit for two consecutive periods. The company is Tokyo-based and was founded in March 2019, and it plans to continue growth while maintaining profitability.

Led · Seed · Sep 2021

Releaf combines proprietary hardware and software — including the Kraken palm-nut de-sheller, the SALT sourcing and logistics application, and the Site geospatial mapping tool — to localize processing and connect smallholder farmers to FMCG manufacturers. The company is focused initially on Nigeria's oil palm industry, placing processing capacity closer to farms to increase quality and reduce logistics costs. Kraken delivers 27–30% higher extraction yields and enables production of palm oil with about 95% purity versus an industry standard of 88%. Since launching its first Kraken prototype in January 2021, Releaf has processed more than 10,000 tons of palm nuts, grown monthly revenue at an average rate of 25%, and secured over $75 million in bookings. Releaf works with leading FMCG manufacturers including Presco and PZ Cussons and provides farmers with training and support on sustainable land management via SALT. The company aims to scale operations and expand into other crops to support climate-adaptive supply chains across Africa. Releaf builds proprietary hardware and software to decentralize food processing for smallholder palm-oil farmers, including Kraken, a patent-pending nut-cracking machine. The company buys palm kernel nuts from farmers, uses Kraken to crack and crush kernels into vegetable oil, and sells finished oil to FMCG processors and local manufacturers in Nigeria’s South South region. Releaf’s software platform connects to over 2,000 smallholder farmers who have supplied more than 10 million kilograms of palm kernel nuts, and Kraken has processed roughly 500 tonnes of palm nuts to date. The startup says its oil yields a lower free fatty acid (FFA) level—about 3.5% versus an industry standard near 5%—which it expects to monetize over time to improve margins. Releaf plans geographic expansion across West Africa rather than broad crop diversification, though it may consider intercropping or adjacent oilseed crops like soybeans or groundnuts. The company will use the seed capital to develop and deploy technology to farmers, while grant funding will provide working capital financing; internal trials reportedly increased smallholder incomes three- to fivefold.