KFW DEG

KFW DEG offers financing, advice and support to private sector enterprises operating in developing and emerging-market countries. Their customers can rely on their expertise: They can benefit from their market knowledge, their 21 locations worldwide, and their international network. For entrepreneurial success and development.

Ingo Schulz

Vice President

Gunnar Stork

Senior Director

99 past transactions

Oze

Venture Round in 2025
Oze empowers African small businesses by digitizing their operations. Its app enables tracking of sales, expenses, and customer data, with analysis providing tailored recommendations and business education. Users can access Oze Coaches for additional support. With over 150,000 registered users, Oze is West Africa's largest online SME community, with a proven track record of driving business growth.

JK Tyre & Industries

Post in 2025
JK Tyre & Industries is a prominent tyre manufacturer based in India, specializing in the development, production, marketing, and distribution of a wide range of automotive tyres and related products. The company offers an extensive portfolio that includes truck and bus radial and bias tyres, passenger car radials, and tyres for two- and three-wheelers, light commercial vehicles, and specialty applications such as racing and military. Additionally, JK Tyre produces off-highway tyres for industrial and agricultural use. Operating in India, Mexico, and other international markets, the company generates the majority of its revenue from its domestic operations, leveraging well-known brands such as JK Tyre, Vikrant, and Tornel.

Acciona

Post in 2025
Acciona is a leading Spanish corporation specializing in sustainable solutions for infrastructure and renewable energy projects. Established over a century ago, it employs more than 30,000 people and operates in over 30 countries across five continents. The company is structured into two main divisions: energy and infrastructure. The energy division emphasizes renewable technologies, focusing on wind, solar, hydro, and biomass, while the infrastructure division includes construction, water treatment, and various service lines. Acciona undertakes projects through government concessions or independent opportunities, ensuring a commitment to sustainability through its Sustainability Master Plan, which aims to facilitate the transition to a low-carbon economy by optimizing resource use and minimizing environmental impact.

ACWA Power

Post in 2024
Founded in 2004, ACWA Power develops, invests in, co-owns, and operates a diverse portfolio of power generation plants, including thermal, solar PV, solar CSP, wind, and desalinated water production facilities. It also provides operations and maintenance services for these industries across Saudi Arabia, the Middle East, Africa, Turkey, Vietnam, and other regions.

CreditAccess Grameen

Post in 2024
CreditAccess Grameen is a microfinance company based in India that specializes in providing financial products and services primarily to women from rural and low-income households. The company offers a range of microcredit loans designed for various purposes, including income generation, family welfare, home improvement, and emergencies. In addition to lending, CreditAccess Grameen provides micro insurance services that encompass life and health insurance, as well as access to a national pension scheme. The company also emphasizes non-financial support through services such as enterprise development, financial literacy promotion, basic health and nutrition education, and training focused on women's rights and gender issues. Operating solely within India, CreditAccess Grameen serves its clients through a structure of Joint Liability Groups, fostering community support and empowerment among women.

Gulf

Post in 2024
Gulf Energy Development Public Company is an energy producers in Thailand, producing safe, reliable energy now and for the future. Their success is driven by their people and their commitment to achieving results – by using state-of-the art technology to maximize power efficiency, responsible operating standards, and securing new opportunities for profitable growth.

AXIAN

Debt Financing in 2024
Axian Group, a family office established 150 years ago in Madagascar, focuses on fostering social and economic development in emerging economies. Its investment unit, created in 2015 and based in Antananarivo, aims to support the infrastructure sector in Madagascar. By providing financial assistance to small and medium enterprises, Axian Group facilitates their growth and expansion. The organization also seeks opportunities in emerging markets to diversify its core operations, underscoring its commitment to sustainable development and economic progress in the region.

Khan Bank

Debt Financing in 2024
Khan Bank is a universal bank based in Mongolia, providing a wide range of banking and financial services to consumers, small and medium enterprises, and corporate clients. The bank offers various products including consumer loans, mortgage loans, herd loans, and business loans. In addition to traditional lending, Khan Bank provides internet and telephone banking services, banking card services, and facilitates foreign payments. The institution also engages in insurance brokerage services, aiming to support customers in their financial growth and contribute positively to societal well-being.

Ronesans Holding

Debt Financing in 2024
Ronesans Holding AS is a diversified company based in Ankara, Turkey, that specializes in construction, real estate development, energy, and health infrastructure activities. Founded in 1993, the company undertakes a wide range of projects, including shopping malls, offices, hotels, residential buildings, heavy industry plants, and various infrastructure projects such as railroad tunnels and bridges. Ronesans Holding is also involved in land development and investment activities. In the energy sector, the company operates ten hydroelectric power plants and engages in electricity trading. Its operations extend beyond Turkey, with a presence in multiple countries including Russia, Turkmenistan, Kazakhstan, and several others across Europe, Africa, and Asia.

Win

Private Equity Round in 2024
Win is an internet service provider-based company. That provides fiber-optic channeling, growing in Lima and Callao, and thanks to this wide coverage it can optimally satisfy condominiums in different districts, without worrying about cuts or saturation of the service. It is currently deploying fiber through the districts of Lima.

Sonargaon Seeds Crushing Mills

Debt Financing in 2024
Sonargaon Seeds Crushing Mills is one of the seeds crushing plants in Bangladesh and produces Soya Meal, Rape Seed Cake, extruded full fat (Soya), and Soya Hulls.

Fourth Partner Energy

Private Equity Round in 2024
Fourth Partner Energy is a Hyderabad-based company specializing in turnkey rooftop solar energy solutions for customers in India. Founded in 2010, it focuses on manufacturing solar energy applications, including solar lanterns, home lighting systems, solar street lights, and photovoltaic panels. The company aims to build, develop, and manage a significant portfolio of decentralized solar power assets, positioning itself as a leading provider of renewable energy services in the region. In addition to its product offerings, Fourth Partner Energy provides financial structuring, design, turnkey execution, and panel cleaning services, ensuring customers have access to efficient power generation and maintenance solutions. As an MNRE empanelled Channel Partner and an ISO 9001:2008 certified company, it collaborates with various state bodies to promote sustainable energy initiatives.

Georgia Global Utilities

Debt Financing in 2024
Georgia Global Utilities is a Georgia-based water utility and renewable energy holding company that distributes potable water and collects and processes wastewater. Its renewable energy division owns and operates a portfolio of assets totaling about 240 MW, including hydropower facilities and a wind power plant, contributing to electricity generation. The company is headquartered in Tbilisi, Georgia.

Co-operative Bank of Kenya

Debt Financing in 2024
Established in 1965, Co-operative Bank of Kenya offers a range of banking services including corporate and retail banking, investments, and asset management. It operates through three main segments: Retail Banking, Wholesale Banking, and Group Functions.

Indorama Fertilizers

Debt Financing in 2024
Indorama Fertilizers operates a world-class, 1.4 million metric tonnes per annum urea manufacturing facility based in Port Harcourt, Nigeria. The plant has been developed to global environmental, social and construction standards. It plays a key role in supporting the agricultural sector in Nigeria by providing a reliable supply of fertilizers for local farmers, thereby enabling import substitution and supporting the diversification needs of the Nigerian economy. Indorama Fertilizers is also advantageously located to serve neighboring West African countries and key Western hemisphere markets, including North America, South America and Europe

Avla

Venture Round in 2024
Avla is an insurance group that specializes in providing comprehensive financial solutions tailored for small and medium-sized enterprises (SMEs). The company offers a range of products, including surety, trade credit, SME credit, and mortgage credit solutions, which help connect SMEs with investors while ensuring protection for credit lines through insurance policies. In addition to facilitating access to judicial guarantees for SMEs, Avla aims to enhance the credibility of performance guarantee insurance, addressing challenges related to lengthy legal processes and the risk of non-payment of claims. The company's focus on financial guarantees, technical guarantees, and credit insurance underscores its commitment to supporting the financial needs of SMEs.

Copia Global

Series C in 2023
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

Ecobank

Post in 2023
Ecobank Transnational Incorporated, established in 1985 and headquartered in Lomé, Togo, provides a range of retail, corporate, and investment banking services across Africa and internationally. Its operations include Corporate & Investment Banking, Commercial Banking, and Consumer Banking, offering products such as current and savings accounts, loans, cards, and digital banking services. The bank serves a diverse clientele, including individuals, small and medium enterprises, multinationals, government agencies, and non-governmental organizations. With a network of 888 branches and over 2,460 ATMs, Ecobank facilitates various financial services, including treasury, cash management, remittance, and bancassurance. Subsidiaries such as Ecobank Nigeria Limited and Ecobank Zimbabwe Limited extend its services, focusing on commercial and retail banking tailored to local markets.

Banga Building Materials

Debt Financing in 2023
Banga Building Materials is a Bangladeshi importer. The company imports a variety of products such as other household article of stainless steel.

Lupiya

Series A in 2023
Lupiya is an innovative online marketplace for microloans that operates as a branch-less digital microfinance platform. By leveraging technology, it simplifies and streamlines the borrowing process, making financial services accessible to individuals and businesses, including those in rural and remote areas. The company's platform incorporates artificial intelligence to enhance its offerings, which include tailored loans for personal and business needs, as well as investments and digital payments. Lupiya aims to empower underserved communities, particularly focusing on providing opportunities for women, thereby fostering financial inclusion across the region.

PasarMikro

Venture Round in 2023
PasarMikro is a B2B digital marketplace focused on modernizing Indonesia's agricultural, fisheries, and livestock sectors. It offers features like order management, stock tracking, digital payments, and trade credit to facilitate efficient transactions, improve operational management, and enhance market reach for farmers, fishermen, and micro traders.

STIMA

Grant in 2023
Stima Mobility is a technology company specializing in sustainable solutions for the moto-taxi industry in Africa. It develops and deploys integrated battery switching technology, aiming to enhance the efficiency and lifespan of electric batteries used in moto-taxis. This technology promotes the use of renewable energy and improves the end-of-life value of batteries, thereby maximizing their utilization and ensuring safety.

BUA Cement

Post in 2023
BUA Cement Plc, established in 2018, specializes in producing and distributing CEM II type cement under the brand "BUA Cement". This product is designed to meet Nigerian Industrial Standards and caters to various construction needs across Nigeria. Its distinctive features include high early strength, rapid setting, and low heat of hydration, making it suitable for block-making, plastering, and concrete works. The company generates revenue primarily through the sale of bagged cement and bulk cement within Nigeria.

Etana

Debt Financing in 2023
Etana is a biotechnology company dedicated to the production and sale of biopharmaceuticals, particularly focusing on oncology and other life-threatening diseases. The company specializes in the development and commercialization of biological drugs, including biosimilars, aimed at serving Indonesia and other emerging markets. Etana's operations encompass research and development, manufacturing, and marketing of advanced medical treatments, such as recombinant gene technology and monoclonal antibody drugs. By prioritizing affordability, Etana strives to provide patients with access to essential medicines and vaccines.

Hayat Kimya

Debt Financing in 2023
Hayat Kimya is a consumer goods company that offers household cleaning, baby, personal, and women's care products. It is one of the main companies of Hayat Holding, a Turkish enterprise with a successful track record and consists of 41 companies that operate in various industries including FMCG, port operations, construction, wood industry, and energy. Hayat Kimya ranks 56th in the ISO 500 list of the Istanbul Chamber of Industry thanks to its environment-friendly manufacturing processes. Hayat Kimya was establihsed in Üsküdar, Istanbul, Turkey.

Thai Credit Retail Bank

Venture Round in 2023
Established in Krung Thep, Thailand in 2004 by Wanit Chaiyawan, Thai Credit Retail Bank is a commercial bank committed to sustainable banking practices. It focuses on promoting environmental sustainability, social responsibility, employee well-being, and good governance through its operations and services. The bank specializes in providing micro and small business loans, with a significant portion of its revenue generated from this segment.

Bike Bazaar

Series D in 2023
Bike Bazaar provides a platform to buy, sell, and exchange two-wheelers and offers financing for new and pre-owned bikes, insurance, and access to eco-friendly options, all via a transparent marketplace for preowned two-wheelers. Founded in 2017 and based in Pune, India.

Lulalend

Series B in 2023
LulaLend is more than a company. It’s a belief in the power of small business, making a difference, building a better solution and striving for excellence. We work hard to empower businesses across South Africa with the funds they need to grow, and we have a great time doing it!

BRAC Bank

Debt Financing in 2023
BRAC Bank Limited is a prominent banking institution in Bangladesh that offers a wide range of commercial banking products and services. The bank caters to various customer segments, including retail, wholesale, small and medium enterprises (SMEs), and expatriates. It provides an array of deposit products, such as current accounts, savings accounts, fixed deposits, and SME deposits. Additionally, BRAC Bank has a diverse loan portfolio that includes personal loans, auto loans, home loans, and secured loans or overdrafts. The bank also engages in non-banking services, offering guarantees and term loans, as well as brokerage services for local institutions, retail clients, and non-resident Bangladeshis. Its operations are structured into several segments, including retail, corporate, and treasury, enabling it to effectively serve its diverse clientele.

Bike Bazaar

Convertible Note in 2023
Bike Bazaar provides a platform to buy, sell, and exchange two-wheelers and offers financing for new and pre-owned bikes, insurance, and access to eco-friendly options, all via a transparent marketplace for preowned two-wheelers. Founded in 2017 and based in Pune, India.

Husk Power Systems

Debt Financing in 2023
Husk Power Systems Pvt. Ltd. is a renewable energy company based in Patna, India, that focuses on generating and distributing electricity to households, community services, small businesses, and factories. Founded in 2007, the company utilizes biomass waste—such as rice husks and other agricultural residues—to produce electricity through its proprietary technology. Husk Power Systems designs and operates mini-power plants and micro-grids, offering electricity as a pay-for-use service primarily to rural areas. This approach not only provides reliable lighting, reducing reliance on kerosene, but also fosters economic development by enabling microenterprises and the use of electricity-operated machinery. By creating a sustainable energy ecosystem at each power plant, Husk Power Systems aims to deliver shared value to its stakeholders and stimulate local economies.

Gia Lai Electricity

Post in 2022
Gia Lai Electricity is a company focused on the production, transmission, and distribution of electricity, with a particular emphasis on renewable energy sources such as solar power. It offers operational and maintenance services for solar power plants, as well as electrical testing services. Additionally, the company is involved in electromechanical construction and provides technical consulting and construction supervision services. Among its innovative products are robotic systems for cleaning solar panels and high-efficiency solar panels. Overall, Gia Lai Electricity plays a significant role in the energy sector, supporting the transition to sustainable energy solutions.

Binh Duong Water

Debt Financing in 2022
Binh Duong Water is a company specializing in water supply services. It engages in the exploitation, treatment, and distribution of clean water.

Hayat Kimya

Debt Financing in 2022
Hayat Kimya is a consumer goods company that offers household cleaning, baby, personal, and women's care products. It is one of the main companies of Hayat Holding, a Turkish enterprise with a successful track record and consists of 41 companies that operate in various industries including FMCG, port operations, construction, wood industry, and energy. Hayat Kimya ranks 56th in the ISO 500 list of the Istanbul Chamber of Industry thanks to its environment-friendly manufacturing processes. Hayat Kimya was establihsed in Üsküdar, Istanbul, Turkey.

Flamingoo Foods

Grant in 2022
Flamingoo Foods is a food manufacturing company specializing in the production and distribution of staple foods, primarily rice, maize, and beans. Utilizing advanced technology, the company forecasts food shortages and surpluses, enabling it to source products from smallholder farmers in surplus regions. After processing and storing the food, Flamingoo Foods efficiently distributes it to areas facing food insecurity. This approach not only addresses hunger and malnutrition but also connects surplus food supplies with regions in need, promoting food security and supporting local agricultural communities.

Simusolar

Grant in 2022
SimuSolar is dedicated to enhancing rural prosperity in Sub-Saharan Africa by providing and financing productive equipment for farmers and small businesses. The company specializes in energy-efficient, solar-powered solutions tailored for off-grid operations, including solar lights, irrigation systems, cold storage, and other tools that support agricultural and fishing activities. By offering innovative financing options, SimuSolar enables access to these essential technologies through flexible monthly payment plans, often facilitated by mobile money applications. This approach not only meets the specific needs of rural smallholders but also fosters sustainable economic growth in the region.

agriBORA

Grant in 2022
agriBORA operates a technology-driven platform focused on enhancing smallholder farming in Africa. The company integrates farming inputs, financial services, and output markets to create an end-to-end ecosystem for farmers. By combining data-driven services and digital tools with human touch, agriBORA aims to reduce risks associated with smallholder agriculture systems, improve farm productivity, and facilitate efficient trading within the sector.

Kiri EV

Grant in 2022
Kiri EV is a manufacturer of electric vehicles and charging systems focused on the Kenyan and East African markets. The company offers a range of products, including electric scooters, motorcycles, auto rickshaws, and carriers, featuring advanced technologies such as direct current motors, antilock braking systems, customizable options, removable batteries, and silent operation. Kiri EV aims to challenge the conventional automotive industry in Africa by demonstrating the potential of electric vehicles to transform transportation across the continent. Through their innovative offerings, the company seeks to make electric mobility accessible and affordable for customers, thus playing a significant role in the future of transportation in the region.

HelloDuty

Grant in 2022
HelloDuty is a technology company specializing in Lead to Cash automation for small to medium-sized businesses. It offers a customer management system that facilitates the collection, analysis, and interpretation of customer data. The platform integrates with popular social media channels such as Facebook, WhatsApp, Instagram, and TikTok, enabling businesses to funnel leads directly into its customer relationship management (CRM) system. Through the use of automated bots and agents, HelloDuty engages with potential customers, converting leads into orders efficiently. The system also includes features like automatic interactive voice response and unstructured supplementary service data, enhancing the overall customer engagement and analysis process.

Zuri Health

Grant in 2022
Founded in 2020, Zuri Health is a Kenyan telemedicine company offering affordable healthcare solutions via apps, websites, and SMS. It facilitates lab tests, doctor consultations, medication delivery, and home visits.

liwwa

Series B in 2022
liwwa, Inc. is a peer lending platform based in Amman, Jordan, established in 2013. The company connects small and medium-sized enterprises (SMEs) seeking capital with individual and institutional investors looking to diversify their investment portfolios. Through its platform, liwwa enables borrowers to apply for small business loans, facilitating access to necessary funds while allowing investors to earn regular monthly returns. The company conducts in-house evaluations of borrowers' creditworthiness and employs a lease-to-own model that provides interest-free returns for investors. By focusing on the MENA region, liwwa aims to enhance capital access for small businesses and create investment opportunities for individuals and institutions.

Tugende

Grant in 2022
Founded in 2012, Tugende is a Ugandan company that provides finance and business assets to informal sector entrepreneurs and micro, medium, and small-sized enterprises. It offers lease-to-own financing for income-generating assets such as motorcycles (bodas), taxis, matatus, boat engines, and other equipment like smartphones, salon gear, shop fridges, and sewing machines. Tugende also provides value-added services including insurance, safety training, GPS tracking, and genuine parts.

Arth

Seed Round in 2022
Arth is an impact-led micro MSME fintech company that delivers access to financial services and livelihood support to microentrepreneurs. They offer services and financial inclusion initiatives to support new and growing businesses.

Massive Bio

Series A in 2022
Massive Bio is an AI-powered platform and advisory services company that connects cancer patients and their oncologists with diagnostic and treatment options, including access to clinical trials. It operates a dual platform strategy: a B2C on-demand service for patients and their oncologists offering testing guidance, treatment recommendations, trial information, and reimbursement support; and a B2B enterprise platform for hospitals and insurers to streamline oncology decision-making. The company features the MB-POA Personalized Oncology Advisor to help integrate cancer genomics, targeted therapies, and outcomes tracking into daily practice. It combines healthcare informatics, oncology expertise, patient identification, pre-screening, and concierge enrollment to address enrollment bottlenecks, facilitating faster trial matching and access to therapies, while compiling real-world data to support drug development and care decisions.

Zuoli Kechuang Micro-Finance Company

Post in 2022
Zuoli Kechuang Micro-Finance Company specializes in offering a diverse range of financing solutions tailored to support commercial and agricultural activities. The company provides various loan products, including unsecured, guaranteed, collateralized, and pledged loans, as well as specific options for agricultural businesses and individual entrepreneurs. Targeting customers engaged in rural development and residing in rural areas, the firm also serves small and medium-sized enterprises and microenterprises across different industries. Additionally, it caters to online retailers dealing in lifestyle, agricultural, cultural, and industrial products. Revenue is primarily generated through interest on these loans.

KELIX Bio

Venture Round in 2022
KELIX Bio is a biopharmaceutical company that specializes in the development and distribution of high-complexity generic medicines, targeting underserved populations in emerging markets, particularly in Egypt and North Africa. The company focuses on differentiated therapeutic areas, including oncology, and aims to enhance the availability and affordability of essential pharmaceuticals in these regions. By leveraging innovation and cost leadership, KELIX Bio seeks to address the challenges faced by healthcare systems in providing access to critical medications, ultimately improving health outcomes for patients in its markets.

Pezesha

Grant in 2022
Pezesha is a digital financial marketplace based in Nairobi, Kenya, founded in 2016. The company focuses on connecting small and medium-sized businesses (SMBs) to various financial resources, including working capital, float financing, and LPO financing. By leveraging credit and data analytics, Pezesha facilitates affordable credit options for underserved micro-businesses, enabling them to access the formal financial system. The platform serves as a bridge between lenders and low-income borrowers, promoting a shared economy and broadening financial access for SMBs. Through its innovative approach, Pezesha aims to be a leading player in Africa's digital financial landscape, enhancing the growth potential of small businesses across the region.

Shamba Pride

Grant in 2022
Shamba Pride is a technology company that connects smallholder farmers in Africa with essential agricultural products, services, and information via its online-to-offline platform. It empowers agro input distributors with tools to enhance service quality, offering upscaling programs, financial management assistance, soil testing, and logistics support.

Banco Pan

Post in 2022
Banco Pan S.A. is a medium-sized financial institution based in São Paulo, Brazil, primarily engaged in providing a range of financial services. Its offerings include payroll loans, vehicle financing, consumer lending, and credit cards, as well as insurance services. The company also facilitates consortiums and securitization of real estate and agribusiness receivables. Additionally, Banco Pan provides investment products such as bank deposit certificates and real estate letters of credit. The institution distributes its services through various channels, including correspondent banks, authorized dealerships, and real estate partners. Banco Pan is jointly controlled by Banco BTG Pactual and Caixa Econômica Federal, and it was formerly known as Banco Panamericano S.A. before rebranding in August 2014.

HDBank

Post in 2022
HDBank, founded in 1990, is one of Vietnam’s earliest joint‑stock commercial banks. With over three decades of operation, it has become a leading financial institution in the country, offering a broad spectrum of services to individuals, businesses, and investors. The bank leverages modern technology and strong financial fundamentals to support domestic and international growth.

Copia Global

Series C in 2022
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

HDBank

Post in 2022
HDBank, founded in 1990, is one of Vietnam’s earliest joint‑stock commercial banks. With over three decades of operation, it has become a leading financial institution in the country, offering a broad spectrum of services to individuals, businesses, and investors. The bank leverages modern technology and strong financial fundamentals to support domestic and international growth.

Briisk

Grant in 2021
Briisk is a late-stage InsurTech company established in 2016, specializing in emerging markets. Headquartered in London with teams across Cape Town, Bangalore, Istanbul, Munich, and Nairobi, Briisk focuses on automating insurance processes, digitizing products, and exploring new distribution channels to reduce costs and enhance revenue for its clients while improving customer value. Its vision is to connect insurers with uninsured and underinsured mass-market customers in Africa and India through fully digital, scalable platforms.

Annapurna Finance

Private Equity Round in 2021
Annapurna Finance is a microfinance company dedicated to the financial and economic upliftment of underserved women and economically backward clients. The firm focuses on expanding microfinance operations in areas that remain outside the formal financial system, providing essential financial and technical support to help clients develop entrepreneurial skills and engage in business activities. Annapurna Finance offers a range of services, including micro-loans for clean water, sanitation, home improvement, support for widowed families, and small businesses. Additionally, the company provides customized insurance plans tailored to the specific needs of its clients, ensuring that they receive the financial assistance necessary for economic empowerment throughout various stages of their lives.

DrugStoc

Series A in 2021
DrugStoc operates a pharmaceutical product procurement platform that connects pharmacies, hospitals, healthcare professionals, and government facilities with safe, quality medications and consumables. The company provides an end-to-end procurement solution that simplifies purchasing, ensures access to verified products, and helps providers obtain medicines at affordable prices. By improving supply chain efficiency and reducing the risk of counterfeit drugs, DrugStoc supports healthcare customers in delivering reliable care across Africa. The service enables medical professionals and institutions to source essential medications and consumables quickly and securely, while focusing on quality, affordability, and timely delivery. DrugStoc's approach emphasizes transparency, product safety, and streamlined procurement to enhance access to critical pharmaceutical products for a healthier Africa.

BCP Bank Mauritius

Debt Financing in 2021
BCP Bank Mauritius is a full-service bank in Mauritius offering a broad range of retail and corporate financial services. It serves individuals, professionals, small and medium-sized enterprises, and international clients, delivering products and services such as savings and current accounts, deposits, various loan facilities, and financing options including term loans, working capital, trade finance, and syndicated lending. The bank provides payments and cash management, treasury services, letters of credit and documentary remittance, foreign exchange, and private banking, along with related offerings like bank guarantees, debit cards, and insurance products. With a nationwide branch network, the bank operates in domestic and international markets and emphasizes trade, treasury, and financing solutions for businesses and individuals.

Khan Bank

Debt Financing in 2021
Khan Bank is a universal bank based in Mongolia, providing a wide range of banking and financial services to consumers, small and medium enterprises, and corporate clients. The bank offers various products including consumer loans, mortgage loans, herd loans, and business loans. In addition to traditional lending, Khan Bank provides internet and telephone banking services, banking card services, and facilitates foreign payments. The institution also engages in insurance brokerage services, aiming to support customers in their financial growth and contribute positively to societal well-being.

Eranove

Venture Round in 2021
Eranove SA is a prominent player in public service management, focusing on electricity and drinking water production in West Africa. The company generates electricity through hydro-electric dams, thermal power stations, and independent electricity production using combustion turbines. It manages the transmission and distribution of electricity, providing customer services through call centers and commercial channels, while also exporting electricity to neighboring countries such as Ghana, Togo, Benin, Burkina Faso, and Mali on behalf of the Ivorian government. In addition to its electricity operations, Eranove is involved in the production and distribution of potable water in Côte d’Ivoire and Senegal, maintaining water treatment facilities and transport networks. The company also addresses sewage and drainage services and supports remote villages with man-powered pumps. Founded in 2003 and based in Paris, Eranove has undergone a name change from Finagestion SA in 2014, reflecting its commitment to providing sustainable access to essential services in the region.

Africa Mobile Networks

Private Equity Round in 2021
Africa Mobile Networks is a company that finances, builds, and operates mobile network base stations in Sub-Saharan Africa to connect rural, previously unconnected populations. It combines low-power base transceiver station transmitters with VSAT satellite technology and powers the systems with solar panels, directing traffic onto existing networks. The company engages in end-to-end network deployment activities, including identifying opportunities in each country, developing business plans, engaging with customers and subcontractors, raising funding for network builds, and establishing local operating entities with key management and technical staff, enabling mobile network operators to add subscribers and revenue with a CAPEX-free model. It was founded in 2013 and is based in Milton Keynes, United Kingdom.

Daystar Power

Debt Financing in 2021
Daystar Power specializes in delivering solar power solutions and energy efficiency services to businesses across commercial, industrial, and agricultural sectors. Their offerings significantly reduce power costs, diesel consumption, and pollution.

Turnkey Lender

Venture Round in 2021
Turnkey Lender provides cloud-based lending automation software for non-bank lenders and microfinance institutions. The platform covers end-to-end lending processes from origination, underwriting, and loan servicing to debt collection and reporting, including risk management, collateral management, and regulatory compliance. It supports a wide range of credit products, including consumer lending, microfinance, payday loans, auto loans, mortgages, SME loans, equipment leasing, telecom lending, POS financing, direct lending, and medical financing. It is a no-code SaaS platform powered by AI that enables innovators in 50+ countries to automate the entire lending process across various sectors.

Solarworx

Seed Round in 2021
Solarworx, established in 2017 with its headquarters in Berlin, Germany, specializes in developing smart solar solutions for off-grid households and businesses. The company manufactures modular, grid-based solar systems designed to meet both current and future electricity demands efficiently and cost-effectively. These systems enable energy consumers to harness solar power independently.

Sicepat Express

Series B in 2021
PT. SiCepat Ekspres Indonesia is a logistics company established in 2004 and headquartered in Jakarta Pusat, Indonesia. The company specializes in courier delivery services throughout Indonesia, providing a range of logistics and shipping solutions. Its offerings include freight forwarding, warehousing, parcel courier, consignment, and delivery services. SiCepat Ekspres aims to facilitate trade in emerging markets by ensuring the timely movement of shipments, thereby supporting businesses in their growth and operational efficiency.

Liquid Intelligent Technologies

Debt Financing in 2021
Liquid Intelligent Technologies is a provider of digital infrastructure in Africa, delivering data, voice, and IP services through a nationwide fiber and satellite network. It operates an extensive fiber backbone spanning about 18,000 kilometers across Uganda, Kenya, Rwanda, Zambia, Zimbabwe, Botswana, the Democratic Republic of the Congo, Lesotho, and South Africa, enabling high-speed internet access for public and private sector enterprises and supporting the digital journey. Founded in 2004 and headquartered in Ebène, Mauritius, the company serves as a key connectivity partner across the continent.

Avaada

Venture Round in 2020
Avaada is a renewable energy company that develops and operates solar and wind power projects and is expanding into advanced clean energy solutions, including electrolyzer manufacturing and the development of green hydrogen and ammonia. It pursues environmental sustainability and social responsibility, integrating community development with its business goals to deliver long-term value. The company also works on sustainable aviation fuel and green methanol to support global decarbonization and help reduce emissions in India. Through its projects and manufacturing capabilities, Avaada aims to uplift local communities and contribute to energy access while scaling renewable generation and green fuels.

Novek

Grant in 2020
Novek is a company focused on developing Internet of Things (IoT) technology aimed at eliminating single-use plastics from fast-moving consumer goods (FMCG) supply chains. Its innovative system enables the dispensing of micro-quantities of products, enhancing efficiency and sustainability. By providing distributors with real-time visibility into retailers' inventory, Novek's technology triggers automated restocking processes. This visibility benefits manufacturers and small businesses, allowing them to optimize sales. Additionally, the platform supports mobile money payment processing for stock transactions, streamlining operations across the supply chain.

BizCapital

Series B in 2020
BizCapital is a financial services provider that specializes in offering loans to small and micro businesses that lack access to traditional banking institutions. The company employs a digital evaluation system that quickly analyzes and ranks loan requests, allowing for rapid funding decisions. By leveraging technology, BizCapital streamlines the loan application process, enabling clients to secure the necessary funds to support their business operations efficiently through an online lending platform.

Flow

Series A in 2020
Flow, founded in 2016, is a credit management company focused on transforming unsecured consumer finance in the APAC region through the use of artificial intelligence and ethical practices. Recognizing the limitations of traditional debt collection methods, Flow emphasizes personalized, digital-first experiences tailored to help consumers navigate financial challenges. The company employs data-driven strategies that have demonstrated impressive recovery rates for leading financial institutions, assisting over 2.8 million consumers in the process. Flow’s services include outsourced consumer credit management and the purchasing of unsecured non-performing loans, utilizing predictive dialing and advanced strategy differentiation to support businesses in maintaining robust balance sheets and managing nonperforming loan ratios effectively.

Hazelcast

Series D in 2020
Hazelcast, Inc. is a technology company that specializes in developing an open-source clustering and scalable data distribution platform tailored for Java applications. Founded in 2008 and headquartered in Palo Alto, California, with an additional research and development office in Istanbul, Turkey, Hazelcast offers a suite of products including an in-memory data grid solution, a stream processing engine called Hazelcast Jet, and a web-based management tool for monitoring and managing clusters. The company's platform integrates high-performance stream processing with rapid data management, enabling businesses to effectively handle transactional, operational, and analytical workloads. Organizations worldwide leverage Hazelcast's solutions to simplify real-time architectures, enhance business-critical processes, and support AI and machine learning deployments, ultimately driving efficiency and revenue while maintaining a low total cost of ownership.

Indosurya Inti Finance

Debt Financing in 2020
PT Indosurya Inti Finance is one of the financial institution entities under the auspices of Indosurya Group which is engaged in finance and property in Indonesia for more than 30 years.We are the first Multifinance Company in Indonesia that focuses on providing small and medium business (SME) financing facilities, as a form of our commitment to support economic growth, especially in the small and medium business sector which is evenly distributed to the people in Indonesia.

LivFin

Seed Round in 2019
LivFin is a non-banking financial company registered with the Reserve Bank of India, specializing in providing financial services to small and medium enterprises (SMEs). The company offers a range of products, including small business loans, supply chain finance, and working capital loans. By focusing on collateral-free credit, LivFin aims to meet the unique needs of small business owners, facilitating access to essential funding for their operations. Additionally, LivFin has developed a loan management platform that streamlines the provision of short-term financing solutions, such as purchase and sales invoice finance, thereby supporting SMEs in securing the necessary working capital to thrive in a competitive market.

Sky.Garden

Grant in 2019
Sky.Garden operates an e-commerce platform tailored for African retailers. It enables businesses of all sizes to sell a wide range of products online, with features including inventory management, automated payment reconciliation, and local shipping options.

Oriental InfraTrust

Private Equity Round in 2019
Oriental InfraTrust is a company that builds infrastructure. The company constructs highways, roads, bridges, and flyovers, as well as earthworks. It is an irrevocable trust established by the Indian Trusts Act of 1882. It is registered as an infrastructure investment trust with the Securities and Exchange Board of India under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.

BIO-LUTIONS

Series A in 2019
BIO-LUTIONS International AG, founded in 2017 and based in Hamburg, Germany, specializes in the production of sustainable packaging and disposable tableware made from agricultural residues. The company offers a range of products, including plates, bowls, compartment plates, and trays in various sizes, all designed to serve as eco-friendly alternatives to traditional petroleum-based plastics and cellulose paper. By utilizing locally sourced agricultural byproducts, BIO-LUTIONS not only reduces transport distances but also fosters local value creation. Their innovative mechanical processes allow them to produce biodegradable materials suitable for various applications, such as injection molding and blown containers. The company's commitment to sustainability aims to mitigate environmental impact while providing customers with independence from fluctuating prices of petroleum and cellulose, thus promoting a more circular economy.

Avaada

Debt Financing in 2019
Avaada is a renewable energy company that develops and operates solar and wind power projects and is expanding into advanced clean energy solutions, including electrolyzer manufacturing and the development of green hydrogen and ammonia. It pursues environmental sustainability and social responsibility, integrating community development with its business goals to deliver long-term value. The company also works on sustainable aviation fuel and green methanol to support global decarbonization and help reduce emissions in India. Through its projects and manufacturing capabilities, Avaada aims to uplift local communities and contribute to energy access while scaling renewable generation and green fuels.

Suryoday Small finance Bank

Venture Round in 2019
Suryoday Small Finance Bank Limited is a small finance bank based in Navi Mumbai, India, focused on promoting financial inclusion by serving unserved and underserved populations. Established in 2008, the bank provides a diverse range of services, including savings and current accounts, fixed deposits, and a variety of loan products such as home loans, vehicle financing, and loans for micro, small, and medium enterprises. Additionally, it offers insurance products, pension schemes, and digital banking services, including UPI payments and mobile banking. The bank operates through various segments, with retail banking being its primary revenue source. With a network of 482 banking outlets across multiple states and union territories, Suryoday Small Finance Bank aims to empower economically challenged individuals, particularly women, by facilitating access to essential financial services and contributing to poverty alleviation in its areas of operation. Formerly known as Suryoday Micro Finance Limited, it rebranded in January 2017 to reflect its broader banking capabilities.

GreenPath Food

Venture Round in 2019
GreenPath Food specializes in organic fruit and vegetable production, focusing on sustainable farming practices. Based in Ethiopia, the company cultivates crops such as avocados, moringa, and lemongrass without machinery, promoting environmental sustainability and improved nutrition for both consumers and farmers.

Rent 2 Own(Myanmar)

Series A in 2018
Rent 2 Own (Myanmar) Ltd, established in 2015 and located in Yangon, specializes in motorcycle rental services designed to assist prospective buyers in acquiring assets. The company primarily targets entrepreneurs, particularly farmers, who may not have the financial means to make a full purchase. Rent 2 Own offers flexible rental contracts that include maintenance and insurance, allowing clients to adapt their agreements as their circumstances change. Key features of their service include the option to upgrade motorcycles and the possibility of purchasing the bike at any point during the contract. Once all payments are completed, ownership of the motorcycle is transferred to the client. By improving access to transportation, Rent 2 Own plays a crucial role in enhancing rural mobility, enabling children to attend school, helping farmers reach broader markets, and facilitating commuting for those with jobs far from home.

Essmart

Venture Round in 2018
Essmart is an essential technology distributor operating since 2011. It improves rural retail shops' access to life-enhancing technologies like solar lanterns and water filters in southern India by aggregating products, distributing them locally, and facilitating manufacturers' warranties.

Kilifi Moringa

Seed Round in 2018
Kilifi Moringa is a company dedicated to the cultivation and commercialization of products derived from the Moringa oleifera tree. It supports hundreds of smallholder women farmers by enabling them to grow Moringa and sell the seeds back to the company. Kilifi Moringa manufactures a range of products, including oil, leaf powder, and cosmetics, harnessing the rich nutritional content of Moringa. This initiative not only provides economic opportunities for rural farmers, particularly women, but also serves as a pathway out of poverty for communities reliant on subsistence farming. The company aims to leverage Moringa's potential as an oil-bearing cash crop, contributing to improved livelihoods and promoting sustainable agricultural practices while tapping into the global demand for Moringa-based personal care products.

M-Birr

Venture Round in 2018
M-BIRR Limited is a fintech company based in Dublin, Ireland, established in 2001. It provides mobile banking services primarily through its flagship platform, M-BIRR, which enables financial institutions in Ethiopia to offer a range of mobile money services. This includes domestic money transfers, cash management, loan and savings repayments, and international remittance services. M-BIRR has established itself as the leading mobile financial service in Ethiopia, known for its extensive distribution network and high transaction volumes. The platform allows users to deposit and withdraw money from mobile wallets, pay utility bills, and facilitate offline purchases, thereby enhancing financial accessibility for both urban and rural customers. Additionally, M-BIRR offers consulting services in business, marketing, and strategy.

Orb Energy

Debt Financing in 2018
Orb Energy specializes in providing affordable renewable energy solutions to off-grid households in India. It offers solar home systems priced at USD 4 per month, reaching low-income customers through a robust retail distribution network comprising 90 branches. The company aims to expand its reach by doubling its branches and employees within two years, targeting an additional 250,000 people.

Daystar Power

Seed Round in 2017
Daystar Power specializes in delivering solar power solutions and energy efficiency services to businesses across commercial, industrial, and agricultural sectors. Their offerings significantly reduce power costs, diesel consumption, and pollution.

FV Hospital

Private Equity Round in 2017
FV Hospital is a healthcare provider based in Ho Chi Minh City, Vietnam. It operates an outpatient clinic and offers specialized medical services across various departments including oncology through its Hope Cancer Center, obstetrics and gynecology, pediatrics, ophthalmology, gastroenterology and hepatology, radiology, cardiology, bone and joint care, and general surgery. The hospital is committed to delivering dedicated, caring, and compassionate treatment to its patients.

awamo

Seed Round in 2017
awamo provides a cloud-based, mobile-first microcredit and core banking platform for microfinance institutions in emerging markets, with biometric identification and digitized credit, risk, and portfolio management. The software is designed to be platform independent and supports end-to-end digitization of lending operations, enabling MFIs to issue and monitor loans, manage risk, and share credit information with partner lenders. It serves hundreds of microfinance institutions—over 300 institutions and about 450,000 clients in Uganda and Kenya—processing tens of thousands of transactions monthly and moving millions of euros through the platform. By standardizing processes and reducing manual tasks, awamo aims to lower transaction costs and default risk, expand access to affordable credit, and enable additional revenue streams through partner products and services.

BIO-LUTIONS

Venture Round in 2017
BIO-LUTIONS International AG, founded in 2017 and based in Hamburg, Germany, specializes in the production of sustainable packaging and disposable tableware made from agricultural residues. The company offers a range of products, including plates, bowls, compartment plates, and trays in various sizes, all designed to serve as eco-friendly alternatives to traditional petroleum-based plastics and cellulose paper. By utilizing locally sourced agricultural byproducts, BIO-LUTIONS not only reduces transport distances but also fosters local value creation. Their innovative mechanical processes allow them to produce biodegradable materials suitable for various applications, such as injection molding and blown containers. The company's commitment to sustainability aims to mitigate environmental impact while providing customers with independence from fluctuating prices of petroleum and cellulose, thus promoting a more circular economy.

Retailability Proprietary

Private Equity Round in 2017
Retailability Proprietary operates in the fashion apparel retail sector, based in Durban, South Africa. The company specializes in providing a range of fashionable in-house and branded clothing and accessories, catering primarily to low and lower-middle income consumers in Southern Africa. Through its retail chain of stores, Retailability enables customers to access stylish apparel at affordable prices, meeting their diverse preferences and needs.

ContourGlobal

Debt Financing in 2017
ContourGlobal is an international power generation company headquartered in London, England, founded in 2005. The company develops, acquires, operates, and manages wholesale electric power generation assets, with a diverse portfolio that includes both thermal and renewable energy sources. ContourGlobal's renewable energy segment generates electricity from hydro, solar, wind, and biogas, totaling 1,808 MW, while its thermal energy segment, utilizing gas, coal, and oil, produces 2,509 MW. Overall, the company operates approximately 4,841 MW across 107 power plants in 18 countries and three continents, employing around 2,000 individuals. By focusing on long-term contracts and a variety of fuel types, ContourGlobal aims to create economic and social value in the communities it serves.

General Emballage

Private Equity Round in 2016
General Emballage is a leading manufacturer and supplier of corrugated cardboard based in Bejaia, Algeria. Established in 2002, the company has experienced significant growth and now operates three production facilities located in Akbou, Setif, and Oran, employing approximately 1,000 individuals. General Emballage specializes in producing a variety of cardboard products, including double-layered and double-double-layered cardboard, as well as containers designed for diverse industries such as dairy, food, fruits and vegetables. Additionally, the company provides corrugated paper sheets suited for sectors including food processing, pharmaceuticals, cosmetics, household appliances, and electronics.

Beloxxi

Private Equity Round in 2016
Beloxxi Industries Limited is a Nigerian company that specializes in the production and supply of cream cracker biscuits. Founded in 1994 and headquartered in Agbara, Nigeria, the company operates with a focus on quality and affordability. Beloxxi's biscuits are produced using a hygienic and efficient process, utilizing high-quality raw materials without additives. The product range is designed to meet global standards while providing healthier snacking options for customers in Nigeria and West Africa. The company's distribution network ensures that its products are accessible to a wide audience, reflecting its commitment to consumer satisfaction and continuous improvement.

Helios Towers DRC

Debt Financing in 2016
Helios Towers DRC is a leading provider of telecommunications infrastructure in Africa, specializing in the construction and maintenance of telecommunications towers. As the first independent tower company on the continent, Helios Towers DRC has developed a substantial network, boasting over 6,500 towers across multiple markets. The company offers passive infrastructure services, leasing tower space to wireless telecommunications service providers, thereby facilitating improved connectivity in one of the world's fastest-growing regions. By focusing on the building and maintenance of these vital structures, Helios Towers DRC plays a crucial role in enhancing telecommunications services throughout Africa.

NSL Renewable Power

Private Equity Round in 2014
NSL Renewable Power Private Limited is a prominent renewable energy company based in Hyderabad, India, incorporated in 1985. It focuses on developing, operating, and managing a diverse portfolio of renewable energy projects, including wind, solar, biomass, hydel, and thermal power. As a subsidiary of NSL Group of Companies Pvt Ltd, the company has established itself as one of the fastest-growing independent power producers in the country. With a highly skilled workforce, NSL Renewable Power employs a unique business model across its various energy verticals, ensuring comprehensive expertise in project implementation and operation. The company's commitment to renewable energy not only aims to generate returns but also contributes positively to society and the environment.

Uttam Galva Mettalics

Venture Round in 2014
M/s. Uttam Galva Metallics Limited has set up a Steel Manufacturing Plant comprises of Blast Furnace, Sinter Plant, Coke Oven Plant, 2.5 MW Top Gas Recovery Plant & 15 MW Gas based Captive Power Plant at Villages Bhugaon, in Wardha district of Maharashtra.

Medica Superspecialty Hospital

Private Equity Round in 2013
Medica Superspecialty Hospital is a healthcare provider based in Kolkata, West Bengal, specializing in a range of medical services. The hospital offers treatments for cardiac sciences, neurological diseases, kidney diseases, orthopedic sciences, gastroenterology and GI surgery, critical care, ENT, and breast diseases. It operates a network of facilities designed to deliver critical treatments while ensuring patient care is both affordable and accessible. Medica Superspecialty Hospital is committed to providing healthcare services in a safe, comfortable environment, prioritizing transparency and ethical practices in its operations.

Ivy Health and Life Sciences

Series A in 2013
Ivy Hospital is a landmark tertiary care health destination promoted by a team of professionals. The Super-Speciality Hospital / Healthcare Institute with Modern Diagnostic Centre and a capacity of 180 beds has the state-of-the-art technology over virtually all specialties. The technology advantage is complemented by the man power excellence providing sophisticated and specialized medical care at affordable cost.

NSL Renewable Power

Venture Round in 2013
NSL Renewable Power Private Limited is a prominent renewable energy company based in Hyderabad, India, incorporated in 1985. It focuses on developing, operating, and managing a diverse portfolio of renewable energy projects, including wind, solar, biomass, hydel, and thermal power. As a subsidiary of NSL Group of Companies Pvt Ltd, the company has established itself as one of the fastest-growing independent power producers in the country. With a highly skilled workforce, NSL Renewable Power employs a unique business model across its various energy verticals, ensuring comprehensive expertise in project implementation and operation. The company's commitment to renewable energy not only aims to generate returns but also contributes positively to society and the environment.

Azure Power

Series C in 2011
Azure Power develops, constructs, owns, operates, maintains, and manages utility-scale renewable energy projects in India. It specializes in solar power generation, offering clean energy solutions to government and commercial entities through long-term contracts.

M2p-labs

Venture Round in 2008
m2p-labs GmbH is a biotechnology company specializing in micro fermentation and automated cultivation systems, founded in 2005 as a spin-off from RWTH Aachen University. Based in Baesweiler, Germany, with additional offices in New York and Shatin, the company develops advanced microbioreactor systems, including the BioLector Pro, BioLector, and RoboLector. These systems are designed for high-throughput fermentation and online monitoring of critical parameters such as biomass, pH, and oxygen levels. m2p-labs' solutions facilitate applications in synthetic biology, clone screening, media optimization, and bioprocess development. By providing quantitative micro reactor cultivation systems and automated services, the company enhances the efficiency and quality of microbial experiments across various conditions, including aerobic and anaerobic environments.

HNG Float Glass

Venture Round in 2007
HNG Float Glass Ltd. is a glass manufacturing company based in Mumbai, India, with a registered office in Kolkata and additional sales offices in Mumbai and Janak Puri. Established in 2006, the company specializes in the design, manufacture, distribution, and installation of float and safety glass products. Its diverse portfolio includes clear float glass, tinted float glass, reflective glass, mirrors, and low iron solar glass, all designed to provide uniform thickness and scratch-resistant, bubble-free quality. HNG Float Glass serves various applications, including curtain wall glazing, windows, shop fronts, structural glass, shower enclosures, furniture, and balustrades, distributing its products through a network of suppliers. As of June 2013, HNG Float Glass operates as a subsidiary of Trakya Cam Sanayii A.S.
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