** For the best experience, download the free Africa Private Equity News app Android | iOS **
AHL Venture Partners has closed a $7 million debt facility for Watu, an asset-financing company operating across Africa and Latin America.
The facility will support working capital and the continued growth of Watu’s portfolio across some of its African markets. This investment builds on a financing relationship between AHL and Watu dating back to 2022.
Watu provides financing for motorcycles and three-wheelers through its mobility business, and for smartphones through Watu Simu, its connectivity business. It is also expanding electric motorcycle financing in selected African markets. The company has originated more than 7 million loans since 2015.
Rosanne Whalley, CEO of AHL Venture Partners, said: “We are delighted to deepen our partnership with Watu and support its continued growth across Africa. Watu’s asset-backed model is expanding financial inclusion and clean mobility for millions of underserved customers, generating exactly the kind of measurable social and economic impact that sits at the heart of AHL’s priorities.”
Andris Kaneps, Watu founder, added: “AHL has been an important funding partner as Watu has grown across Africa. This facility strengthens our working-capital base and gives us additional capacity to expand our mobility and smartphone-financing portfolios while continuing to serve our customers consistently and responsibly.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Access the Dealmaker’s Log here
