Goodwell Investments

Goodwell Investments is an impact investment firm that provides early-stage to growth capital along with hands-on support to inclusive businesses in Africa and India. It targets sectors including financial services, energy, health, mobility, education, agriculture, water and sanitation, and other basic services that improve livelihoods. The firm seeks minority stakes and offers board representation and advisory services to help portfolio companies scale sustainably. Based in the Netherlands with offices in Amsterdam and Cape Town, it pursues a long-term investment horizon of approximately five to ten years and aims to generate solid financial returns alongside social impact.

Wim van der Beek

Founder and Managing Partner

Wim van der Beek

Founder and Managing Partner

Nico Blaauw Ph.D

Partner, Investor Relations, Marketing and Communications

Els Boerhof

Managing Partner

Nathan Cheruiyot

Investment Associate

Judith Ngonyo

Investment Manager

Anne Ngugi

Senior Investment Manager

Lilian Oyando

Associate Partner

41 past transactions

OmniRetail

Series A in 2025
OmniRetail is a B2B e-commerce platform founded in 2019, headquartered in Lagos, Nigeria. It aims to digitize the consumer goods supply chain from manufacturers through distributors to retailers, improving reliability, visibility, and financial capabilities.

Agent Banking Company

Venture Round in 2024
Agent Banking Company specializes in digital technology solutions, facilitating access to banking services through approved agents. Its platform offers a wide range of financial services, including cash deposits and withdrawals, bill payments, money transfers, merchant payments, and financial products like micro-lending, micro-savings, micro-insurance, micro-investment, and pension services. This enables commercial banks to enhance their customer experience and provide affordable financial services.

Gaea Foods

Debt Financing in 2024
Gaea Foods Limited is a Kenyan company established in 1998, specializing in the processing and supply of peeled and cut potatoes. Based in Nairobi, the company primarily serves fast food restaurants, mainstream hotels, and centralized kitchens for universities. Gaea Foods plays a vital role in connecting smallholder farmers with major business-to-business clients, facilitating a reliable supply chain for the local urban market. Through its operations, Gaea Foods contributes to the agricultural sector by ensuring that quality produce reaches its customers efficiently.

OmniRetail

Series A in 2024
OmniRetail is a B2B e-commerce platform founded in 2019, headquartered in Lagos, Nigeria. It aims to digitize the consumer goods supply chain from manufacturers through distributors to retailers, improving reliability, visibility, and financial capabilities.

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.

Good Nature Agro

Series B in 2023
Good Nature Agro is a social enterprise based in Chipata, Zambia, focused on empowering small-scale farmers to enhance their productivity and income. Formed in 2014, the company organizes groups of farmers who nominate a Private Extension Agent (PEA) from within their ranks. These PEAs undergo rigorous training to become community leaders and provide ongoing support and personalized recommendations to fellow farmers throughout the growing season. By promoting improved farming practices, Good Nature Agro supplies high-quality legume seeds and offers loans for additional inputs, helping farmers transition from traditional crops to more lucrative options. The company also guarantees a market for the certified legume seeds harvested by the farmers, effectively enabling them to significantly increase their income and achieve lasting financial stability.

Inclusivity Solutions

Series A in 2023
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

Complete Farmer

Seed Round in 2023
Founded in 2017, Complete Farmer is a Ghana-based company that offers end-to-end digital agriculture solutions. It manages crop farms and develops IoT-based software with machine learning algorithms for farm monitoring. The platform connects global agricultural commodity buyers directly with African farmers, promoting sustainable farming practices and food security.

SOUK Farms

Venture Round in 2023
SOUK Farms is a fresh horticulture supply grower and exporter specializing in a diverse range of fruits and vegetables. The company focuses on exporting high-quality fresh produce to markets in Europe and the Middle East. It is committed to enhancing agricultural sustainability and driving economic and social development within the farming community. By providing farmers with access to advanced farming technology and ensuring compliance with international quality standards, SOUK Farms supports them in meeting market demands. Additionally, the company offers valuable market insights and assistance to aid farmers in optimizing their production capabilities.

onafriq

Series C in 2022
MFS Africa Limited is a leading provider of mobile money interoperability in Africa, facilitating seamless money transfers and payments across the continent. Established in 2009 and headquartered in Accra, Ghana, the company connects mobile network operators through a unified API, enabling a range of services including remittances, merchant and bulk payments, as well as bank-to-wallet transfers. MFS Africa serves various stakeholders, including money transfer operators, banks, and mobile money operators, by offering alternatives for remittances, micro-lending, micro-insurance, and micro-savings. With additional offices in key African cities and London, MFS Africa plays a crucial role in enhancing financial connectivity and promoting financial inclusion across the region.

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.

onafriq

Series C in 2021
MFS Africa Limited is a leading provider of mobile money interoperability in Africa, facilitating seamless money transfers and payments across the continent. Established in 2009 and headquartered in Accra, Ghana, the company connects mobile network operators through a unified API, enabling a range of services including remittances, merchant and bulk payments, as well as bank-to-wallet transfers. MFS Africa serves various stakeholders, including money transfer operators, banks, and mobile money operators, by offering alternatives for remittances, micro-lending, micro-insurance, and micro-savings. With additional offices in key African cities and London, MFS Africa plays a crucial role in enhancing financial connectivity and promoting financial inclusion across the region.

Asante Financial Services Group

Series A in 2021
Asante Financial Services Group is dedicated to promoting financial independence for businesses and individuals across Africa. The company specializes in providing a comprehensive suite of financial services, including loans, payment solutions, deposits, investment products, and insurance services. By focusing on micro, small, and medium-sized enterprises (MSMEs), Asante aims to meet the diverse needs of these businesses, enabling them to access essential credit financing and asset management solutions. Through its offerings, Asante strives to support the growth and sustainability of African enterprises, facilitating their journey toward financial autonomy.

Lidya

Series B in 2021
Lidya is a financial services platform focused on small and medium enterprises in Nigeria, enabling online account opening, funds management, credit building, and access to working capital. Founded in 2016 and based in Lagos, the company uses mobile-first technology and proprietary credit scoring to help SMEs open accounts quickly, manage receivables and cash flow, and secure affordable credit with higher limits as their credit profiles improve.

Chicoa Fish Farm

Venture Round in 2021
Founded in 2017, Chicoa Fish Farm is based in Maputo, Mozambique. It specializes in the sustainable production and supply of tilapia fish, employing vertically integrated solutions and focusing on offshore breeding, genetic selection, and environmentally friendly husbandry practices.

onafriq

Venture Round in 2021
MFS Africa Limited is a leading provider of mobile money interoperability in Africa, facilitating seamless money transfers and payments across the continent. Established in 2009 and headquartered in Accra, Ghana, the company connects mobile network operators through a unified API, enabling a range of services including remittances, merchant and bulk payments, as well as bank-to-wallet transfers. MFS Africa serves various stakeholders, including money transfer operators, banks, and mobile money operators, by offering alternatives for remittances, micro-lending, micro-insurance, and micro-savings. With additional offices in key African cities and London, MFS Africa plays a crucial role in enhancing financial connectivity and promoting financial inclusion across the region.

Nomanini

Venture Round in 2021
Nomanini's platform connects informal retailers with service providers, consumer wallets, distributors, and manufacturers via an interoperable merchant wallet. This facilitates transactions that generate data for loans, savings accumulation, and business intelligence, benefiting all participants.

Chicoa Fish Farm

Series A in 2020
Founded in 2017, Chicoa Fish Farm is based in Maputo, Mozambique. It specializes in the sustainable production and supply of tilapia fish, employing vertically integrated solutions and focusing on offshore breeding, genetic selection, and environmentally friendly husbandry practices.

Good Nature Agro

Series A in 2020
Good Nature Agro is a social enterprise based in Chipata, Zambia, focused on empowering small-scale farmers to enhance their productivity and income. Formed in 2014, the company organizes groups of farmers who nominate a Private Extension Agent (PEA) from within their ranks. These PEAs undergo rigorous training to become community leaders and provide ongoing support and personalized recommendations to fellow farmers throughout the growing season. By promoting improved farming practices, Good Nature Agro supplies high-quality legume seeds and offers loans for additional inputs, helping farmers transition from traditional crops to more lucrative options. The company also guarantees a market for the certified legume seeds harvested by the farmers, effectively enabling them to significantly increase their income and achieve lasting financial stability.

SparkMeter

Series A in 2020
SparkMeter develops smart electricity metering systems and grid management software for underserved markets. Its products include residential and commercial meters, along with software solutions that enhance grid efficiency, enable prepaid billing, and facilitate remote monitoring. Founded in 2012, SparkMeter operates from Washington D.C. and Nairobi, Kenya.

Tomato Jos

Series A in 2020
Tomato Jos is a Nigerian company founded in 2014, based in Keffi, that specializes in the production and distribution of tomato paste. In addition to its core business, the company offers consultancy services aimed at educating farmers on best practices for tomato cultivation. By providing quality agricultural inputs and expert guidance, Tomato Jos assists smallholder farmers in improving their growing techniques to better serve local markets. The company's commitment extends beyond product quality, as it seeks to positively impact the lives of farmers and enhance the agricultural landscape in Nigeria.

East Africa Fruits

Series A in 2020
East Africa Fruits Co. is a prominent distributor of fresh fruits, vegetables, and grains, serving a diverse clientele that includes retailers, wholesalers, local vendors, cafes, hotels, and exporters. Founded in 2013 and based in Dar es Salaam, Tanzania, the company sources its produce from smallholder farmers, providing essential services such as cleaning, sorting, packing, and marketing. By facilitating connections between sellers and buyers, East Africa Fruits Co. supports smallholder farmers with crop planning tailored to market demands. The company is dedicated to increasing the availability of fresh produce to meet growing consumer demand both locally and internationally. In its pursuit of growth, East Africa Fruits Co. aims to become a leading producer and exporter of fruits and vegetables, with plans for significant expansion in the coming years.

Inclusivity Solutions

Series A in 2020
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

WhereIsMyTransport

Series A in 2020
WhereIsMyTransport Ltd is an urban transportation technology company based in London, United Kingdom, with a presence in Cape Town, South Africa. The company specializes in providing comprehensive public transport data for emerging-market megacities, focusing on regions in Africa, Latin America, Southeast Europe, and South and Southeast Asia. By digitalizing network information from various modes of public transport, WhereIsMyTransport ensures data accuracy amidst the dynamic changes of these systems. Their platform offers a data collection framework for mapping both formal and informal transport networks, equipping businesses, municipalities, and citizens with essential information to enhance infrastructure and navigate urban environments effectively. Through its innovative products and data services, WhereIsMyTransport aims to improve the public transport experience for users and support industry stakeholders in their operational needs.

Copia Global

Series B in 2019
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.

Sendy

Series B in 2019
Sendy operates a logistics platform that simplifies delivery processes for businesses. Founded in 2014, it offers door-to-door delivery services for e-commerce, optimizes logistics for manufacturers and distributors, and provides access to multiple transporters.

Nomanini

Series D in 2019
Nomanini's platform connects informal retailers with service providers, consumer wallets, distributors, and manufacturers via an interoperable merchant wallet. This facilitates transactions that generate data for loans, savings accumulation, and business intelligence, benefiting all participants.

MAX

Venture Round in 2019
MAX is a company that specializes in providing motorcycle taxi and transport services, focusing on the last-mile delivery and online retail challenges in Africa. By utilizing mobile and web platforms, MAX connects consumers, retail businesses, and independent drivers in real-time, effectively removing logistical and technological barriers that have hindered retail growth on the continent. Additionally, MAX offers electric and low-emission vehicle subscription services tailored for commercial drivers, promoting financial freedom and wealth creation through vehicle ownership. The company aims to ensure that independent drivers have access to safe, reliable, and sustainable mobility solutions, thereby enhancing the overall transport landscape in Africa.

Inclusivity Solutions

Series A in 2019
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

Copia Global

Venture Round in 2019
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.

WhereIsMyTransport

Series A in 2019
WhereIsMyTransport Ltd is an urban transportation technology company based in London, United Kingdom, with a presence in Cape Town, South Africa. The company specializes in providing comprehensive public transport data for emerging-market megacities, focusing on regions in Africa, Latin America, Southeast Europe, and South and Southeast Asia. By digitalizing network information from various modes of public transport, WhereIsMyTransport ensures data accuracy amidst the dynamic changes of these systems. Their platform offers a data collection framework for mapping both formal and informal transport networks, equipping businesses, municipalities, and citizens with essential information to enhance infrastructure and navigate urban environments effectively. Through its innovative products and data services, WhereIsMyTransport aims to improve the public transport experience for users and support industry stakeholders in their operational needs.

onafriq

Series B in 2018
MFS Africa Limited is a leading provider of mobile money interoperability in Africa, facilitating seamless money transfers and payments across the continent. Established in 2009 and headquartered in Accra, Ghana, the company connects mobile network operators through a unified API, enabling a range of services including remittances, merchant and bulk payments, as well as bank-to-wallet transfers. MFS Africa serves various stakeholders, including money transfer operators, banks, and mobile money operators, by offering alternatives for remittances, micro-lending, micro-insurance, and micro-savings. With additional offices in key African cities and London, MFS Africa plays a crucial role in enhancing financial connectivity and promoting financial inclusion across the region.

Paga

Series B in 2018
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.

Oradian

Venture Round in 2018
Oradian is a fintech company that provides a cloud-based core banking platform designed to empower financial institutions in emerging markets to better serve rural and remote customers. By offering its services through a Software as a Service model, Oradian enables these institutions to efficiently digitize their products and operations, facilitating scalability. The company supports a diverse community of over 80 financial institutions across 12 countries, collectively serving millions of end clients. Oradian's innovative technology solutions aim to enhance financial inclusion and improve access to financial services for underserved and unbanked populations. With a dedicated team of experts from more than 20 nationalities, Oradian is committed to delivering best practices and driving change in the microfinance sector, helping institutions to manage their operations effectively and affordably.

WhereIsMyTransport

Seed Round in 2017
WhereIsMyTransport Ltd is an urban transportation technology company based in London, United Kingdom, with a presence in Cape Town, South Africa. The company specializes in providing comprehensive public transport data for emerging-market megacities, focusing on regions in Africa, Latin America, Southeast Europe, and South and Southeast Asia. By digitalizing network information from various modes of public transport, WhereIsMyTransport ensures data accuracy amidst the dynamic changes of these systems. Their platform offers a data collection framework for mapping both formal and informal transport networks, equipping businesses, municipalities, and citizens with essential information to enhance infrastructure and navigate urban environments effectively. Through its innovative products and data services, WhereIsMyTransport aims to improve the public transport experience for users and support industry stakeholders in their operational needs.

WhereIsMyTransport

Seed Round in 2016
WhereIsMyTransport Ltd is an urban transportation technology company based in London, United Kingdom, with a presence in Cape Town, South Africa. The company specializes in providing comprehensive public transport data for emerging-market megacities, focusing on regions in Africa, Latin America, Southeast Europe, and South and Southeast Asia. By digitalizing network information from various modes of public transport, WhereIsMyTransport ensures data accuracy amidst the dynamic changes of these systems. Their platform offers a data collection framework for mapping both formal and informal transport networks, equipping businesses, municipalities, and citizens with essential information to enhance infrastructure and navigate urban environments effectively. Through its innovative products and data services, WhereIsMyTransport aims to improve the public transport experience for users and support industry stakeholders in their operational needs.

Musoni System

Seed Round in 2016
Musoni Services BV is a technology company that specializes in developing cloud-based banking software tailored for microfinance institutions. Founded in 2013 and based in Amsterdam, the Netherlands, Musoni offers a comprehensive management information system (MIS) that enhances operational efficiency and reduces costs for microfinance organizations. Its platform encompasses features such as client and group management, loans and savings tracking, integrated accounting, and high-quality reporting. Additionally, it supports mobile money integration and includes an SMS module for payment reminders, as well as a tablet application to facilitate data collection in the field. By leveraging cloud technology, Musoni enables microfinance institutions to operate with greater flexibility and security while extending their outreach into rural areas, thereby promoting financial inclusion.

Musoni System

Private Equity Round in 2016
Musoni Services BV is a technology company that specializes in developing cloud-based banking software tailored for microfinance institutions. Founded in 2013 and based in Amsterdam, the Netherlands, Musoni offers a comprehensive management information system (MIS) that enhances operational efficiency and reduces costs for microfinance organizations. Its platform encompasses features such as client and group management, loans and savings tracking, integrated accounting, and high-quality reporting. Additionally, it supports mobile money integration and includes an SMS module for payment reminders, as well as a tablet application to facilitate data collection in the field. By leveraging cloud technology, Musoni enables microfinance institutions to operate with greater flexibility and security while extending their outreach into rural areas, thereby promoting financial inclusion.

Paga

Series B in 2015
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.

Paga

Series A in 2012
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.

Utkarsh Micro Finance

Series B in 2011
Utkarsh Micro Finance Private Limited is registered with Reserve Bank of India as Non Banking Finance Company (NBFC). Its registered office and corporate office is in Varanasi (Uttar Pradesh). It is started to provide financial and non financial services in its area of operations to the unbanked population who have the skill but are in need of capital. Initially it has started with credit and insurance, but eventually it will also undertake other activities to bring transformation in the lives of underprivileged.
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