NAIROBI, Kenya (PRWEB) February 25, 2019
Beyond Capital is pleased to announce its recent investment in Tulaa, a mobile commerce solution that connects agricultural-input suppliers, financial service providers, and commodity buyers to smallholder farmers.
Incubated inside of influential information and communications provider Esoko and launched in Kenya in 2017, the solution leverages mobile technology to enable farmers to save and borrow to purchase inputs, receive tailored agronomic advice, and market their crops at harvest time. With this technology-based solution, Tulaa lowers the cost and risk for input suppliers, banks, and off-takers to transact with rural customers and suppliers in Africa. A growing social enterprise, Tulaa is committed to reinvesting returns into the business, to scale quickly and maximize impact on rural communities. They aspire to become the leading virtual marketplace for rural Africa.
"Tulaa tackles the issues of financial inclusion and food security at the same time,” said Eva Yazhari, CEO of Beyond Capital Fund. “We are particularly excited about Tulaa's ability to prevent loan diversion among smallholder farmers, and ultimately, provide market linkage to improve their creditworthiness and incomes."
Beyond Capital’s initial contribution to the $627,000 seed round of investment will be disbursed to fund Tulaa’s continued expansion in Kenya and for further development of Tulaa’s digital platform. Their investment will be matched by the Eckenstein Geigy Foundation.
“We are thrilled to have Beyond Capital on board,” said Hillary Miller-Wise, Founder and CEO of Tulaa. “The consortium brings not only capital, but also a terrific mix of experience and knowledge globally as well as in the Kenyan market. Combined with the team of committed and passionate people who we have been fortunate to attract, the added experience of the investors positions us extremely well for continued growth.”
ABOUT: Beyond Capital Fund
Beyond Capital is an impact investment fund that invests in for-profit social enterprises throughout India and East Africa. We invest in businesses that are focused on greater access to health care, water, sanitation, and energy, as well as food security and financial inclusion, which can increase the quality of life and standard of living for consumers at the bottom of the pyramid. Though we seek market rate financial returns, Beyond Capital is structured as a non-profit, which permits us to emphasize fidelity to our social mission alongside our financial mandate.
For more information visit http://www.beyondcapitalfund.org.