Goodwell Investments

Goodwell Investments, established in 2005, is a private equity and venture capital firm headquartered in Amsterdam, the Netherlands, with additional offices in Cape Town, South Africa, and Nairobi, Kenya. The company specializes in early-stage, growth capital investments in the Fintech sector, focusing on small and medium-sized enterprises in impact sectors such as microfinance, mobile payments, affordable housing finance, and renewable energy. Goodwell primarily invests in India, Sub-Saharan, and West Africa, with a focus on Ghana and Nigeria. It seeks to make risk capital or equity investments, typically committing a minimum of €2.5 million, and aims to hold these investments for five to ten years. The firm also provides advisory services to its portfolio companies and seeks board representation. Goodwell only takes minority stakes, less than 50%, in its investments.

Wim van der Beek

Founder and Managing Partner

Wim van der Beek

Founder and Managing Partner

Els Boerhof

Managing Partner

Nathan Cheruiyot

Investment Associate

Judith Ngonyo

Investment Manager

Anne Ngugi

Senior Investment Manager

Lilian Oyando

Associate Partner

Past deals in Africa and Middle East

Omnibiz

Series A in 2025
Omnibiz is a B2B e-commerce platform based in Lagos, Nigeria, founded in 2019. It specializes in serving FMCG manufacturers, distributors, and retailers by digitizing the supply chain to enhance operational efficiency. The platform offers tools that improve reliability, visibility, and financial capability for local businesses. Its software features order tracking and integrated payment options, enabling seamless transactions and helping businesses navigate the complexities of the modern market. Omnibiz is dedicated to supporting local enterprises in achieving their goals through an optimized supply chain framework.

Gaea Foods

Debt Financing in 2024
Gaea Foods Limited is a Kenyan company established in 1998, specializing in the processing and supply of peeled and cut potatoes. Based in Nairobi, the company primarily serves fast food restaurants, mainstream hotels, and centralized kitchens for universities. Gaea Foods plays a vital role in connecting smallholder farmers with major business-to-business clients, facilitating a reliable supply chain for the local urban market. Through its operations, Gaea Foods contributes to the agricultural sector by ensuring that quality produce reaches its customers efficiently.

Omnibiz

Series A in 2024
Omnibiz is a B2B e-commerce platform based in Lagos, Nigeria, founded in 2019. It specializes in serving FMCG manufacturers, distributors, and retailers by digitizing the supply chain to enhance operational efficiency. The platform offers tools that improve reliability, visibility, and financial capability for local businesses. Its software features order tracking and integrated payment options, enabling seamless transactions and helping businesses navigate the complexities of the modern market. Omnibiz is dedicated to supporting local enterprises in achieving their goals through an optimized supply chain framework.

Copia Global

Series C in 2023
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

Good Nature Agro

Series B in 2023
Good Nature Agro is a social enterprise based in Chipata, Zambia, focused on empowering small-scale farmers to enhance their productivity and income. Formed in 2014, the company organizes groups of farmers who nominate a Private Extension Agent (PEA) from within their ranks. These PEAs undergo rigorous training to become community leaders and provide ongoing support and personalized recommendations to fellow farmers throughout the growing season. By promoting improved farming practices, Good Nature Agro supplies high-quality legume seeds and offers loans for additional inputs, helping farmers transition from traditional crops to more lucrative options. The company also guarantees a market for the certified legume seeds harvested by the farmers, effectively enabling them to significantly increase their income and achieve lasting financial stability.

Inclusivity Solutions

Series A in 2023
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

Copia Global

Series C in 2022
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

Lidya

Series B in 2021
Lidya is a financial services platform based in Lagos, Nigeria, founded in 2016, that aims to enhance access to credit and finance for small and medium enterprises. The company offers a mobile-first platform that allows businesses to open accounts, manage funds, and build credit profiles efficiently, often within 15 minutes. Utilizing proprietary credit scoring algorithms, Lidya enables business owners to access essential credit and working capital, including invoice financing, to support their growth and financial planning. Additionally, the platform includes tools and dashboards designed to help businesses manage their receivables and cash flow, thereby improving their credit scores and unlocking higher credit limits at more affordable rates.

Chicoa Fish Farm

Venture Round in 2021
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, specializes in the production and supply of tilapia fish. The company is committed to promoting sustainable aquaculture practices and operates a vertically integrated model to support the freshwater fish farming industry. By focusing on offshore breeding, careful genetic selection, and sustainable husbandry methods, Chicoa Fish Farm aims to provide a nutritious and scalable protein source. The company is dedicated to enabling small-scale farmers to achieve cost-effective and environmentally friendly fish production, characterized by low feed conversion ratios and a reduced carbon footprint.

Chicoa Fish Farm

Series A in 2020
Chicoa Fish Farm, established in 2017 and located in Maputo, Mozambique, specializes in the production and supply of tilapia fish. The company is committed to promoting sustainable aquaculture practices and operates a vertically integrated model to support the freshwater fish farming industry. By focusing on offshore breeding, careful genetic selection, and sustainable husbandry methods, Chicoa Fish Farm aims to provide a nutritious and scalable protein source. The company is dedicated to enabling small-scale farmers to achieve cost-effective and environmentally friendly fish production, characterized by low feed conversion ratios and a reduced carbon footprint.

Good Nature Agro

Series A in 2020
Good Nature Agro is a social enterprise based in Chipata, Zambia, focused on empowering small-scale farmers to enhance their productivity and income. Formed in 2014, the company organizes groups of farmers who nominate a Private Extension Agent (PEA) from within their ranks. These PEAs undergo rigorous training to become community leaders and provide ongoing support and personalized recommendations to fellow farmers throughout the growing season. By promoting improved farming practices, Good Nature Agro supplies high-quality legume seeds and offers loans for additional inputs, helping farmers transition from traditional crops to more lucrative options. The company also guarantees a market for the certified legume seeds harvested by the farmers, effectively enabling them to significantly increase their income and achieve lasting financial stability.

SparkMeter

Series A in 2020
SparkMeter Inc., established in 2012 with headquarters in Washington D.C. and an office in Nairobi, Kenya, specializes in developing electricity metering systems tailored for rural and central utilities in developing markets. The company offers a range of products including SM16R, SM60R, SM60RP, and SM200E meters, catering to residential, large residential, medium commercial, and post-paid customers respectively. Additionally, SparkMeter provides software solutions that enhance grid efficiency, enable microgrids, facilitate prepaid billing, improve customer communications, and allow remote monitoring and control for utilities operating in remote areas.

Tomato Jos

Series A in 2020
Tomato Jos is a Nigerian company founded in 2014, based in Keffi, that specializes in the production and distribution of tomato paste. In addition to its core business, the company offers consultancy services aimed at educating farmers on best practices for tomato cultivation. By providing quality agricultural inputs and expert guidance, Tomato Jos assists smallholder farmers in improving their growing techniques to better serve local markets. The company's commitment extends beyond product quality, as it seeks to positively impact the lives of farmers and enhance the agricultural landscape in Nigeria.

East Africa Fruits

Series A in 2020
East Africa Fruits Co. is a prominent distributor of fresh fruits, vegetables, and grains, serving a diverse clientele that includes retailers, wholesalers, local vendors, cafes, hotels, and exporters. Founded in 2013 and based in Dar es Salaam, Tanzania, the company sources its produce from smallholder farmers, providing essential services such as cleaning, sorting, packing, and marketing. By facilitating connections between sellers and buyers, East Africa Fruits Co. supports smallholder farmers with crop planning tailored to market demands. The company is dedicated to increasing the availability of fresh produce to meet growing consumer demand both locally and internationally. In its pursuit of growth, East Africa Fruits Co. aims to become a leading producer and exporter of fruits and vegetables, with plans for significant expansion in the coming years.

Inclusivity Solutions

Series A in 2020
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

Copia Global

Series B in 2019
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

Sendy

Series B in 2019
Sendy Ltd. is a logistics company based in Nairobi, Kenya, founded in 2014. It operates a comprehensive logistics platform designed to simplify and optimize delivery processes for businesses. The platform facilitates door-to-door delivery for e-commerce and assists manufacturers and distributors in managing their logistics more efficiently. Sendy connects businesses with multiple transporters, allowing them to schedule, track, and pay for deliveries seamlessly. With a focus on transparency and security, Sendy empowers thousands of companies to manage their logistics through an integrated system that also provides access to reporting tools and cashless payment options.

Inclusivity Solutions

Series A in 2019
Inclusivity Solutions is a company based in Cape Town, South Africa, that specializes in creating inclusive digital insurance markets. Founded in 2015, it designs, builds, and operates innovative digital insurance solutions, offering products in life, health, property, agriculture, and savings. The company focuses on expanding access to insurance for unserved and underserved consumers in emerging markets, addressing the significant gap where up to 98% of individuals lack protection against various risks. Inclusivity Solutions partners with mobile operators, insurance companies, and other distribution channels to deliver these solutions through digital platforms, leveraging the widespread use of mobile phones. The company provides comprehensive support, including strategy, product and process design, and implementation, to foster sustainable inclusive insurance markets that meet the needs of emerging consumers.

Copia Global

Venture Round in 2019
Copia Global Inc. is an e-commerce company based in Nairobi, Kenya, founded in 2013. It provides an innovative application that allows users to browse and order products from local shopkeepers, facilitating access to a wide range of quality goods for consumers in the developing world. The platform is designed to empower middle to low-income Africans by enabling them to make purchases without needing direct internet access. Copia Global leverages mobile technologies and a network of local agents to serve as distribution points, ensuring efficient delivery of products at consumers' convenience. The application also incorporates a mobile payment system, allowing shopkeepers to fulfill customer orders seamlessly.

Paga

Series B in 2018
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.

Paga

Series B in 2015
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.

Paga

Series A in 2012
Paga is a mobile payment company focused on creating a digital ecosystem for money transactions, primarily in Nigeria, where it is recognized as a leading provider in the sector. The company's application facilitates sending and receiving money through mobile devices, making financial services accessible to a broad audience. In addition to transferring funds, Paga's platform allows users to purchase airtime credits, pay bills, and make retail payments, addressing the growing demand for viable payment options. With an ambitious mission to simplify financial access for one billion people, Paga aims to overcome the challenges associated with traditional banking and enhance the overall financial inclusion in its target markets.
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