Cauris Finance, a prominent impact credit fund dedicated to Africa’s development, has successfully closed a $40 million debt facility. This funding, secured from a US-based institutional investor, aims to bolster socially impactful fintechs across the continent, empowering them to provide accessible credit to financially underserved small businesses and entrepreneurs.
With a mission to facilitate quality credit access for 10 million small enterprises, Cauris Finance focuses on accelerating economic development, fostering the rise of Africa’s middle class, and aligning with Sustainable Development Goals (SDGs). By employing advanced technology and structured underwriting, the firm offers innovative financing solutions that promise both financial returns and meaningful social impact.
Azer Songnaba, chief investment officer of Cauris Finance, shared the significance of this milestone: “Cauris is committed to unlocking Africa’s vast economic potential by enabling fintechs to deliver high-quality, accessible credit to the businesses and people who are the backbone of the continent’s economies.”
The new funding will enable Cauris to expand its reach, addressing the critical need for accessible credit among Africa’s underserved entrepreneurs. Small businesses are often referred to as the economic engines of the continent, and this facility is expected to play a pivotal role in driving sustainable growth and fostering innovation in the financial sector.
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