October 21

Asante Closes First Tranche of $7.5 Million Series a Funding to Bridge the Gap in MSMEe Lending in Africa

Asante Financial Services Group (“Asante”) announces $7.5 million Series A investment anchored by Goodwell Investments with participation by other investors including Sorenson Impact Foundation and Forsage Holdings.

Asante is a high-impact fintech focused on supporting the growth of African Micro, Small and Medium Enterprises (MSMEs). The Series A investment enables Asante to scale its credit offerings to the underserved segment of MSMEs in Kenya and Uganda, and expand to Nigeria and Rwanda.

“We are delighted to welcome our new investors including Goodwell, Sorenson and Forsage in our inaugural institutional fundraise. Together, we will advance access to finance, and financial independence and wellbeing for the millions of small businesses on the continent,” said Chidi Okpala, Founding CEO of Asante.

Photo courtesy of Pete Linforth.

Source: Finextra (link opens in a new window)

financial inclusion, fintech, MSMEs, scale