MICROCAPITAL BRIEF: Sanad, Aavishkaar, Uncovered Participate in $4m Equity Raise by Sky.Garden of Kenya to Expand Its Digital Marketplace to Middle East, North Africa
The Luxembourg-domiciled Sanad Fund for MSME recently led a Series A investment in Sky.Garden, a Kenya-based e-commerce platform serving 15,000 micro-, small and medium-sized enterprises (MSMEs). Sky.Garden plans to use the fresh USD 4 million to expand into the Middle East and North Africa (MENA), especially Egypt. Sanad, which means “support” in Arabic, was founded in 2011 by German development bank Kreditanstalt für Wiederaufbau (KfW). Sanad invests across the Middle East and North Africa with an emphasis on Egypt and Tunisia. By Sophie Fiala, Research AssociateSources and Additional ResourcesSanad press releasehttps://sanad.lu/latest-updates/sanad-helps-african-entrepreneurs-go-online-with-investment-of-usd-2-million-into-tech-startup-skygardenSky.Garden homepagehttps://sky.garden/Aavishkaar Capital homepagehttps://aavishkaarcapital.in/Uncovered Fund homepagehttps://en.uncoveredfund.com/Previous MicroCapital article on SANADhttps://www.microcapital.org/microcapital-brief-amen-bank-of-tunisia-borrows-17m-from-sanad-for-on-lending-to-msmes-adjusting-to-covid-19-pandemic/Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month?
Source: The North Africa Journal June 22, 2021 04:52 UTC
