Wednesday
March 16
2022

This African Neobank Just Raised $18.5 Million to Expand Financial Access for SMEs in Kenya, Uganda

By Emmanuel Abara Benson

4G Capital, a notable African neobank with headquarters in Mauritius, announced today that it has finalised a Series C funding round of $18.5 million.

In a statement sent to Business Insider Africa, the company disclosed that the funding round was led by Lightrock, a London-based private equity fund.

The statement further explained that the funding would go a long way in aiding 4G Capital’s mission of availing financial access to more African Small and Medium Enterprises (SMEs). Specifically, the company would use the money to expand access to its products in Kenya and Uganda.

Photo courtesy of Free-Photos.

Source: Business Insider Africa (link opens in a new window)

Categories
Finance, Investing
Tags
business, financial access, impact investing, private equity, SMEs, social impact