The firm wants to back 50 African startups by 2020
The latest €1 million ($1.2 million) in fundraising will help it reach its goal of backing 50 African startups by 2020.
GreenTec works with companies to “define clear and measurable goals that, once reached, translate into a small equity stake. We only profit if our partners profit, and we share the risks as well,” says GreenTec on its website.
The company is backed by Finance in Motion and several Europe-based angel investors. It plans to launch a full-fledged impact fund next year.