ImpactAlpha, July 26 – FINCA Ventures, the venture arm of the global microfinance institution FINCA, invests in early-stage social enterprises providing essential products and services for low-income people. Its latest investments include Cassvita, an agtech venture helping farmers in Cameroon grow cassava as a climate-resilient alternative to other crops.
Cassvita connects farmers to financing for inputs, buys their harvest, and processes it into flour as a wheat substitute or for making instant fufu, a popular West African dish. Cassvita says its processing prevents crop spoilage, boosting farmers’ income by as much as 400%.
FINCA Ventures also backed the Mexico-based fintech Bamba, which is facilitating access to new and flexible insurance products, and Rising Academies, which operates a network of low-cost private schools in West Africa and Rwanda.
FINCA launched its venture arm in 2018. The fund has made 25 investments, writing checks of $100,000 to $500,000.
