Seattle-based venture investor Capria Ventures is ramping up its investments in emerging markets, particularly in Nigeria and Bangladesh, through its Global South Fund II, which achieved its first close last year.
In a recent move, Capria Ventures led a $23 million funding round for Bangladeshi startup Wagely. The funding round, consisting of a mix of debt and equity, aims to support Wagely’s expansion of financial services, including initiatives focused on financial literacy and salary tracking and advances for employees. Notably, Wagely has already disbursed $25 million to over 500,000 users, indicating a strong track record in the market.
In another development, Capria Ventures spearheaded a $2.95 million investment round for BFREE, an ethical credit manager based in Nigeria. Joining Capria in the funding round were GreenHouse Capital, Angaza Capital, and Launch Africa. BFREE utilizes artificial intelligence (AI) to minimize non-performing loans for lenders and employs innovative strategies to structure the purchase of distressed assets, contributing to the development of Nigeria’s financial ecosystem.
These investments underscore Capria Ventures’ commitment to fostering financial inclusion and innovation in emerging markets. By supporting startups like Wagely and BFREE, Capria Ventures aims to catalyze the expansion of financial services and promote sustainable economic growth in Nigeria, Bangladesh, and beyond.
