Goodwell Investments

Goodwell Investments is an impact investment firm that provides early-stage to growth capital along with hands-on support to inclusive businesses in Africa and India. It targets sectors including financial services, energy, health, mobility, education, agriculture, water and sanitation, and other basic services that improve livelihoods. The firm seeks minority stakes and offers board representation and advisory services to help portfolio companies scale sustainably. Based in the Netherlands with offices in Amsterdam and Cape Town, it pursues a long-term investment horizon of approximately five to ten years and aims to generate solid financial returns alongside social impact.

Els Boerhof

Managing Partner

Nathan Cheruiyot

Investment Associate

Judith Ngonyo

Investment Manager

Anne Ngugi

Senior Investment Manager

Lilian Oyando

Associate Partner

Wim van der Beek

Founder and Managing Partner

Wim van der Beek

Founder and Managing Partner

Past deals in Nigeria

OmniRetail

Series A in 2025
OmniRetail is a B2B e-commerce platform founded in 2019, headquartered in Lagos, Nigeria. It aims to digitize the consumer goods supply chain from manufacturers through distributors to retailers, improving reliability, visibility, and financial capabilities.

OmniRetail

Series A in 2024
OmniRetail is a B2B e-commerce platform founded in 2019, headquartered in Lagos, Nigeria. It aims to digitize the consumer goods supply chain from manufacturers through distributors to retailers, improving reliability, visibility, and financial capabilities.

Lidya

Series B in 2021
Lidya is a financial services platform focused on small and medium enterprises in Nigeria, enabling online account opening, funds management, credit building, and access to working capital. Founded in 2016 and based in Lagos, the company uses mobile-first technology and proprietary credit scoring to help SMEs open accounts quickly, manage receivables and cash flow, and secure affordable credit with higher limits as their credit profiles improve.

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.

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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