Hakki Africa, a Tokyo-based microfinancing startup, has successfully raised 1.97 billion yen ($12.7 million) in a recent funding round. The company, known for extending auto loans in Kenya, plans to use this capital to expand its operations into India and South Africa. This strategic move marks a significant milestone for Hakki Africa as it ventures into new markets.
The funding round saw participation from prominent investors. SMBC Venture Capital and Global Brain played a crucial role by purchasing 800 million yen worth of new shares through a private placement. Additionally, financing from Sumitomo Mitsui Banking, Hokkoku Bank, and others contributed the remaining 1.17 billion yen, bolstering the company's financial resources for its planned expansion.
Hakki Africa's expansion into India is particularly noteworthy. The company plans to provide financial services to gig drivers seeking to purchase electric motorbikes in the country. This move aligns with the growing trend of sustainable transportation solutions and caters to the increasing demand for electric vehicles in India. By tapping into this market, Hakki Africa aims to establish a foothold in a rapidly evolving industry.
In addition to its Indian expansion, Hakki Africa will also extend its operations to South Africa. This strategic decision underscores the company's commitment to broadening its reach and offering financial support to underserved communities in emerging markets. By providing auto loans and other financial services, Hakki Africa seeks to empower individuals and promote economic growth in these regions.
The successful funding round reflects investor confidence in Hakki Africa's business model and growth prospects. With the backing of established financial institutions and venture capitalists, the company is poised to make a significant impact in its new markets. By leveraging its expertise in microfinancing, Hakki Africa aims to facilitate economic opportunities and drive positive change for individuals and communities.
Leave a Reply