Goodwell V

Goodwell Investments BV is a private equity and venture capital firm based in Amsterdam, Netherlands, with additional offices in Cape Town, South Africa, and Nairobi, Kenya. Established in 2005, the firm specializes in seed and early-stage investments primarily within the Fintech sector, as well as in other impact sectors such as healthcare, renewable energy, and agriculture. Goodwell targets small and medium-sized enterprises in India and Sub-Saharan Africa, with a particular focus on Ghana and Nigeria. It seeks to invest in financially sustainable and scalable companies that provide basic services, making equity investments with a minimum commitment of €250,000. The firm aims to hold its investments for five to ten years and typically takes minority stakes in its portfolio companies, seeking board representation and offering advisory services on sustainable business practices. Goodwell Investments is dedicated to generating both significant financial returns and positive social impact.

Wim Beek

Founder and Managing Partner

Nathan Cheruiyot

Investment Associate

Judith Ngonyo

Investment Manager

Anne Ngugi

Senior Investment Manager

Lilian Oyando

Associate Partner

Past deals in SADC

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.

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.

Chicoa Fish Farm

Venture Round in 2021
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, is dedicated to producing and supplying tilapia fish. The company operates as a sustainable fish farming enterprise, aiming to enhance the aquaculture industry in the region. Chicoa Fish Farm emphasizes offshore breeding and careful genetic selection, coupled with sustainable husbandry practices. These methods not only provide a nutritious and scalable protein source but also demonstrate low feed conversion ratios. This approach enables small-scale farmers to achieve cost-effective and environmentally friendly fish production, contributing to a low carbon footprint and promoting sustainable aquaculture practices in Mozambique.

Nomanini

Venture Round in 2021
Nomanini SA (Pty) Ltd operates a platform that facilitates the sale of prepaid products, such as airtime, electricity, and insurance, primarily targeting informal markets. Founded in 2010 and based in Cape Town, South Africa, the company provides terminals used by informal retailers, such as street vendors and share-taxi drivers, to sell prepaid vouchers and generate ongoing profits. Nomanini's platform connects merchants, distributors, and service providers through an interoperable merchant wallet, enabling efficient transactions and data collection. This data offers insights for loans and savings accumulation, ultimately enhancing profitability for all participants in the informal retail ecosystem. By integrating payments, working capital, and data analytics, Nomanini transforms any mobile device into a retail point-of-sale system, improving the accessibility of digital finance for informal merchants and their customers.

Chicoa Fish Farm

Series A in 2020
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, is dedicated to producing and supplying tilapia fish. The company operates as a sustainable fish farming enterprise, aiming to enhance the aquaculture industry in the region. Chicoa Fish Farm emphasizes offshore breeding and careful genetic selection, coupled with sustainable husbandry practices. These methods not only provide a nutritious and scalable protein source but also demonstrate low feed conversion ratios. This approach enables small-scale farmers to achieve cost-effective and environmentally friendly fish production, contributing to a low carbon footprint and promoting sustainable aquaculture practices in Mozambique.

Good Nature Agro

Series A in 2020
Good Nature Agro is a social enterprise based in Chipata, Zambia, dedicated to supporting small-scale farmers. Established in 2014, the company facilitates a community-driven approach by enabling groups of farmers to nominate a Private Extension Agent (PEA) from among themselves. These PEAs receive training to enhance their problem-solving skills and agronomic knowledge, allowing them to provide tailored support and training to fellow farmers during the growing season. Good Nature Agro supplies quality legume seeds and offers farmer-friendly loans to improve productivity. At harvest time, the company guarantees a market for the certified legume seeds produced by these farmers, encouraging them to focus on high-value crops, which significantly boosts their income compared to traditional cash crops like maize and cotton.

East Africa Fruits

Series A in 2020
East Africa Fruits Co. distributes fresh fruits, vegetables, and grains to retailers, wholesalers, local vendors, cafes, hotels, and exporters. The company buys fruits and vegetables from small holders farmers and process them by cleaning, sorting, packing, and marketing. It integrates sellers with buyers and supports smallholder farmers on crop planning in alignment with marketplaces. The company also provides delivery services. East Africa Fruits Co. was founded in 2013 and is based in Dar es Salaam, Tanzania.

East Africa Fruits

Series A in 2020
East Africa Fruits Co. distributes fresh fruits, vegetables, and grains to retailers, wholesalers, local vendors, cafes, hotels, and exporters. The company buys fruits and vegetables from small holders farmers and process them by cleaning, sorting, packing, and marketing. It integrates sellers with buyers and supports smallholder farmers on crop planning in alignment with marketplaces. The company also provides delivery services. East Africa Fruits Co. was founded in 2013 and is based in Dar es Salaam, Tanzania.

Inclusivity Solutions

Series A in 2020
Inclusivity Solutions designs, builds, and operates inclusive digital insurance solutions. The company offers life, health, property, agriculture, and savings products. Its solutions include strategy, product, and process design and implementation support built on scalable systems. It partners with mobile operators, insurance companies, and other distribution partners to deliver insurance solutions through digital channels. The company was founded in 2015 and is based in Cape Town, South Africa.

WhereIsMyTransport

Series A in 2020
WhereIsMyTransport Ltd is an information technology company that focuses on urban transportation solutions through its mobile application. Founded in 2015 and headquartered in London, United Kingdom, with an additional office in Cape Town, South Africa, the company specializes in collecting and providing access to public transport data across various African cities. Its big data platform enables effective data collection, access, and journey planning, assisting users in navigating public transportation systems more efficiently.

Nomanini

Series D in 2019
Nomanini SA (Pty) Ltd operates a platform that facilitates the sale of prepaid products, such as airtime, electricity, and insurance, primarily targeting informal markets. Founded in 2010 and based in Cape Town, South Africa, the company provides terminals used by informal retailers, such as street vendors and share-taxi drivers, to sell prepaid vouchers and generate ongoing profits. Nomanini's platform connects merchants, distributors, and service providers through an interoperable merchant wallet, enabling efficient transactions and data collection. This data offers insights for loans and savings accumulation, ultimately enhancing profitability for all participants in the informal retail ecosystem. By integrating payments, working capital, and data analytics, Nomanini transforms any mobile device into a retail point-of-sale system, improving the accessibility of digital finance for informal merchants and their customers.

Inclusivity Solutions

Series A in 2019
Inclusivity Solutions designs, builds, and operates inclusive digital insurance solutions. The company offers life, health, property, agriculture, and savings products. Its solutions include strategy, product, and process design and implementation support built on scalable systems. It partners with mobile operators, insurance companies, and other distribution partners to deliver insurance solutions through digital channels. The company was founded in 2015 and is based in Cape Town, South Africa.

WhereIsMyTransport

Series A in 2019
WhereIsMyTransport Ltd is an information technology company that focuses on urban transportation solutions through its mobile application. Founded in 2015 and headquartered in London, United Kingdom, with an additional office in Cape Town, South Africa, the company specializes in collecting and providing access to public transport data across various African cities. Its big data platform enables effective data collection, access, and journey planning, assisting users in navigating public transportation systems more efficiently.

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.

WhereIsMyTransport

Seed Round in 2017
WhereIsMyTransport Ltd is an information technology company that focuses on urban transportation solutions through its mobile application. Founded in 2015 and headquartered in London, United Kingdom, with an additional office in Cape Town, South Africa, the company specializes in collecting and providing access to public transport data across various African cities. Its big data platform enables effective data collection, access, and journey planning, assisting users in navigating public transportation systems more efficiently.

WhereIsMyTransport

Seed Round in 2016
WhereIsMyTransport Ltd is an information technology company that focuses on urban transportation solutions through its mobile application. Founded in 2015 and headquartered in London, United Kingdom, with an additional office in Cape Town, South Africa, the company specializes in collecting and providing access to public transport data across various African cities. Its big data platform enables effective data collection, access, and journey planning, assisting users in navigating public transportation systems more efficiently.

Musoni BV

Private Equity Round in 2016
Musoni BV came about as a result of the experience gained by members of the Musoni BV team working in the field of mobile banking and microfinance in East Africa. Prospective Client Working with existing MFIs, the team was successful in rolling out the first partnerships between mobile money transfer services and MFIs in both Kenya (2008) and Tanzania (2009). These early pilot programmes demonstrated the potential in introducing innovative new technologies to the microfinance industry, and were the inspiration behind setting up an MFI that would be completely cash-free, utilizing mobile money for all loan repayments and disbursements as well as the depositing and withdrawing of savings. In September 2009, after almost a year of preparations, Musoni BV was founded. By May 2010, Musoni Kenya had disbursed its first loan and at the end of 2011 Musoni Kenya had established five branches and successfully disbursed over 10,000 loans. In the year 2011 Musoni Kenya lent more than $2m to micro entrepreneurs. In July 2011 Musoni BV won the award for most innovative use of technology granted during the Global Microfinance achievement Awards in Geneva. Musoni BV is now looking to build upon its experience to develop and roll-out its innovative model to new markets, while continuing to provide high quality support to Musoni Kenya.
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