Dealflow | March 28, 2024

Capria Ventures backs fintechs in Nigeria and Bangladesh to expand financial services

Lucy Ngige
Guest Author

Lucy Ngige

Capria Ventures, a Seattle-based venture investor in emerging markets, continues to deploy capital from its Global South Fund II, which achieved a first close last year.

Capria led the $23 million round for Bangladeshi startup Wagely, which raised a mix of debt and equity to expand its suite of financial services, including financial literacy, and salary tracking and advances for employees. The startup has disbursed $25 million to over 500,000 users.

Separately, Capira led a $2.95 million round for BFREE, an ethical credit manager in Nigeria. GreenHouse Capital, Angaza Capital and Launch Africa also joined the round for BFREE, which leverages AI to minimize non-performing loans for lenders and structure the purchase of distressed assets.

AI + emerging markets

“Financial inclusion and wellness aren’t just about access,” Capria said in an email. “It’s about fostering trust, empowering individuals, and turning hope into tangible progress.”

AI-enabled startups in the Global South in fintech, climate tech, agtech, and other sectors are the focus of Capria’s second, $100 million target fund, which achieved a first close last April.

OIP Investment Trust, Gates Ventures and other investors joined the fund. Earlier investments from the fund include Egyptian fintech Paymob, Brazilian agtech startup Agrofy, and Nigerian health tech company Helium Health