Goodwell Investments launches €20m fund to support financial inclusion in Africa

Goodwell Investments has launched a new €20m fund to support the financial inclusion within Sub-Saharan Africa.

This vehicle was raised following a ‘growing demand for impact investments from private investors, family offices and foundations,’ Goodwell received after the close of its previous fund earlier this year.

The firm’s predecessor fund, Goodwell III, closed on €20m at the start of the year following commitments from 30 investors.

Goodwell IV hopes to have maximum social impact and achieve high return rates for investors. To do this, the firm will support the underserved consumers in the region and help startups building a sustainable and inclusive society.

Half of the fund has been earmarked for the financial services space, as this is the key to supporting the local economies. Goodwell has a particular focus on technology-driven solutions as it ‘enables businesses to reach more consumers faster and at much lower cost,’ the company said.

The remainder of the capital will go to solutions in the agriculture, health and sanitation, energy, and transport industries.

Earlier in the year, the firm took part in the $4.5m Series B round of digital payments processor MFS Africa. The company offers a digital payments network that helps to connect more than 170 million mobile wallets and over 100 partners, including Airtel, Ecobank, MTN, Orange and Vodafone, across Africa.

Goodwell also backed micro-finance banking software developer Oradian this year, to support its growth across Africa.

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