Village Capital and Standard Chartered Bank Propel Women-Led Startups with $150,000 Investment

Kenyan e-health startup Benacare and Zambian fintech Mighty Finance have secured funding through a newly established female-focused financing initiative facilitated by Village Capital and Standard Chartered Bank.

Village Capital has collaborated with Standard Chartered Bank to launch a financing facility dedicated to investing in the bank's Women in Tech program.

The initiative aims to fill the gender financing gap prevalent in the entrepreneurial ecosystem, with a particular emphasis on supporting early-stage, impact-driven startups led by women founders.

The Kenyan startup, Benacare, specializes in providing affordable clinical and supportive care to patients with life-limiting illnesses in the comfort of their homes.

Meanwhile, Mighty Finance in Zambia focuses on offering access to capital primarily for women-led businesses.

Both companies have successfully raised $75,000 each from this groundbreaking facility.

Heather Matranga, Vice President for Impact Investments at Village Capital, expressed enthusiasm about the partnership with Standard Chartered Bank, emphasizing their commitment to supporting women founders in their vision to increase global female participation by channeling more investment capital into impact-driven ventures.

Joyce Kibe, Head of Corporate Affairs, Brand, and Marketing at Standard Chartered, highlighted the excitement of partnering with Village Capital to strengthen the Women in Tech program.

This program has already provided critical support to over 70 women-led businesses, aiding them in scaling their operations to international standards.

Kibe emphasized the belief that supporting more women in business not only stimulates robust and resilient economic activity but also provides crucial assistance for overlooked inputs in startup businesses.

The pilot facility aims to provide innovative and catalytic financing tailored to meet the diverse needs of women entrepreneurs across various business models and markets.

Source: Tom Jackson / Disrupt Africa