Last month Goodwell Investments raised 20 million euro from over 30 investors for investments in Sub-Saharan Africa.
What is Goodwell Investments?
Goodwell Investments is an investment firm focused on financial inclusion, fintech, and inclusive growth in sectors providing goods and services along with income generating opportunities to the underserved. Their target is to provide capital and management support to companies that focus on fintech, inclusive growth in sectors providing basic goods and services and income generation opportunities to the underserved.
Since 2006 they have raised 5 funds with over $100 million in capital. Goodwell has invested equity in early-stage businesses in financial services and technology companies in India and Africa. They have invested in classical microfinance to mobile payments, rural banking, affordable housing finance to merchant payment networks and public transport technology.
Who can get funding?
The startups that receive investment from Goodwell Investments normally have to give up an equity stake that is dependant on the particular role Goodwell Investments will take as an investor. They do tend to acquire minority stakes as their intention is NOT to ‘take the role of the entrepreneur.’ However, exceptions can be made depending on the development stage and financial position of a startup.
Half of the 20 million they plan to invest will be used to fund in fintech(financial technology). The rest will be allocated to agriculture, health, and sanitation, energy, transport, and education.
The marketing and communications director, Nico Blaauw told Ventureburn that they:
“currently cover Western Africa with teams in Ghana and Nigeria, Southern Africa with a team in Cape Town and we are close to having our dedicated team for Eastern Africa in Nairobi, Kenya.”
How to apply for investment
For a startup to be considered for funding they have to fill a form on Goodwell’s site. The form asks questions related to the startup such as
How YOUR business models fit with the investor’s mandate,
The startups current traction.
Amount of funding raised.
There does not seem to be a deadline for these applications but keep in mind the early bird gets the worm.