Dealflow | December 5, 2023

FINCA Ventures invests in health access and financial inclusion startups

Lucy Ngige
Guest Author

Lucy Ngige

ImpactAlpha, December 5 – The impact investing arm of microfinance company FINCA backed Berlin-based Euclid, which connects smallholder farmers in Africa and Latin America to healthcare services. Large companies that source goods from the farmers cover the healthcare costs. The company secures funding from companies then connects farmers to health providers. It in turn feeds human wellness data back to companies.

Euclid markets the service to companies as a way of managing “reputational risk” in their supply chains. It is working with farmers in Ghana, Madagascar, Venezuela and Ecuador and aims to reach 500,000 farmers by 2025.

FINCA Ventures backed the company alongside IBB Ventures’ impact fund, Elea Foundation, Katapult Africa Seed Fund and other investors.

Its latest round of checks also supported Lapaire, which offers affordable eye care in seven countries. Bankingly provides digital financial infrastructure to enable small and mid-sized financial institutions to reach underserved customers. The fintech venture is also backed by impact investors Oikocredit, Elevar Equity and Sonen Capital.

FINCA Ventures has backed two dozen early-stage impact ventures enabling access to finance and other essential services for low-income communities in emerging markets.