Africa-focused and early-stage venture capital firm GOODsoil VC announces it is investing nine hundred and forty thousand US dollars as seed capital in Ghanaian fintech company Zeepay.
This part of the company’s mission to drive financial inclusion across the African continent.
Firstly, by leading the global surge of investments into Africa’s fintech market. Secondly, by being an example and offering investors a case study of real ROI through their investments.
GOODsoil VC also intents on becoming a catalyst of economic growth for minority founders across Africa. Noting there is a level of disparity in global funding for African startups.
“There are clear barriers to entry for tech startups to scale” shares Charmaine Hayden, Managing Partner and Co-founder. “Our vision is to level the playing field” she continues.
Charmaine explains the deal not only highlights the levelling of disparity in global funding for African startups. But also the challenges inherent in various levels of funding.
“Whilst the growth of seed investment in Africa is incontestable, it does not reflect the same volume of exits that is able to attract mass investors to the market.
Charmaine Hayden
In order to sustain real growth, we believe there needs to be an increase in trade sales (exits); real tangible successes that can have a light cast on them to increase investors appetite into the continent.”
Zeepay, used in more than 20 African markets focuses on digital rails to connect digital assets.
Through this investment, Zeepay will continue to scale and roll out its services across the continent. It will also help in Zeepay’s plans to extend its global reach with plans to launch in the UK in 2021.
“We are delighted to have GOODsoil on board,” says Zeepay co-founder and managing director Andrew Takyi-Appiah.
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