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. Founded in 2005, the firm focuses on seed and early-stage investments in small and medium-sized enterprises in impact sectors, particularly in financial services, agriculture, health, logistics, and mobility. Goodwell aims to support companies that provide essential goods and services in Sub-Saharan Africa and India, with a particular interest in microfinance, mobile payments, affordable housing finance, and renewable energy. The firm typically invests a minimum of €250,000 and prefers to hold its investments for five to ten years while taking minority stakes. In addition to financial backing, Goodwell offers advisory services to its portfolio companies, emphasizing sustainable business practices and social impact.

Wim Beek

Founder and Managing Partner

Nico Blaauw

Marketing and Communications Director

Berg De Bleecker

Investor Relations Director

Els Boerhof

Managing Partner

Danai Musandu

Investment Associate

Judith Ngonyo

Senior Investment Associate

Bitta Wycliffe

Investment Associate

Mercy Zulu

Investment Associate and SEMS Officer

Past deals in Sub Saharan Africa

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 is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

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 is a company that focuses on facilitating financial independence for businesses and individuals. Their products and services is designed to include loans, payments, deposits, investment and insurance-related products, and asset management products and services, to cater to the needs of African businesses and individuals.

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.

SparkMeter

Series A in 2020
SparkMeter, Inc. specializes in developing electricity metering systems tailored for rural and central utilities in developing markets. The company offers a range of products, including the SM16R for residential customers, the SM60R for larger residential needs, the SM60RP for medium commercial or industrial clients, and the SM200E for post-paid metering of large customers. In addition to hardware, SparkMeter provides software solutions designed to improve grid efficiency and asset performance for microgrids and distribution utilities in remote areas. Their offerings facilitate prepaid billing, enhance customer communication, and enable remote monitoring and control. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, SparkMeter aims to increase access to electricity in underserved markets and hard-to-reach locations.

Tomato Jos

Series A in 2020
Tomato Jos not only produces the best quality tomato products but they also leave a foot print in the lives of those they encounter every day. At Tomato Jos they understand the importance of the combination of both quality agricultural inputs and an expert team to educate the farmers on the application of these inputs.

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.

Copia Global

Series B in 2019
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

Sendy

Series B in 2019
Sendy Ltd. operates a logistics platform designed for businesses, providing on-demand door-to-door delivery services for e-commerce and facilitating logistics optimization for manufacturers and distributors. Founded in 2014 and headquartered in Nairobi, Kenya, Sendy's user-friendly web platform allows businesses of all sizes to schedule, track, and manage payments for their deliveries efficiently. By connecting users with multiple transporters, Sendy enhances the logistics process and supports the growing demand for reliable delivery solutions in the region.

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.

MAX

Venture Round in 2019
Metro Africa Xpress, also known as MAX.ng, is a Lagos-based company that specializes in on-demand package pickup and delivery services. Incorporated in 2015, MAX.ng offers various delivery options including same day, three-hour, and next day services. The company addresses last-mile delivery challenges by utilizing mobile and web platforms to connect consumers, retail businesses, and independent drivers in real-time. By streamlining logistics and leveraging technology, MAX.ng aims to enhance the capabilities of retail businesses in Africa, facilitating growth and improving service delivery in the region. Additionally, the company provides a mobile application that integrates delivery services with ride-hailing options, further enhancing convenience for its users.

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.

Copia Global

Venture Round in 2019
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

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.

Paga

Series B in 2018
Paga is a mobile payment company focused on creating a digital ecosystem that facilitates the sending and receiving of money. It aims to provide simple financial access to a broad user base, with a mission to enable one billion people to effectively manage their finances. Operating primarily in Nigeria, Paga has established itself as the leading mobile payment provider in the region. Its application allows users to transfer money to anyone with a mobile phone, as well as purchase and send airtime credits, make bill payments, and conduct retail transactions. By addressing the challenges associated with payment options, Paga is committed to enhancing financial service accessibility for its users.

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.

Paga

Series B in 2015
Paga is a mobile payment company focused on creating a digital ecosystem that facilitates the sending and receiving of money. It aims to provide simple financial access to a broad user base, with a mission to enable one billion people to effectively manage their finances. Operating primarily in Nigeria, Paga has established itself as the leading mobile payment provider in the region. Its application allows users to transfer money to anyone with a mobile phone, as well as purchase and send airtime credits, make bill payments, and conduct retail transactions. By addressing the challenges associated with payment options, Paga is committed to enhancing financial service accessibility for its users.

Paga

Series A in 2012
Paga is a mobile payment company focused on creating a digital ecosystem that facilitates the sending and receiving of money. It aims to provide simple financial access to a broad user base, with a mission to enable one billion people to effectively manage their finances. Operating primarily in Nigeria, Paga has established itself as the leading mobile payment provider in the region. Its application allows users to transfer money to anyone with a mobile phone, as well as purchase and send airtime credits, make bill payments, and conduct retail transactions. By addressing the challenges associated with payment options, Paga is committed to enhancing financial service accessibility for its users.