4G Capital has secured a US$2 million investment from GIF Growth as the East African fintech moves to scale lending to micro- and small-business owners across the region.
- •The new funding will support the company’s push to expand its loan book and invest in digital infrastructure while deepening its presence in Kenya and Uganda.
- •Founded in 2013, 4G Capital focuses on providing working-capital loans and financial training to small merchants who often lack traditional credit histories.
- •The company says it is on track to surpass US$1 billion in cumulative lending this year, in over 6.8 million individual loans to over 755,000 customers.
“This investment provides us with the right kind of capital to scale our model sustainably and expand access to working capital and training for underserved entrepreneurs, particularly women and youth led businesses,” 4G Capital founder and executive chairman Wayne Hennessy-Barrett said.
GIF Growth is the growth-stage financing arm of the Global Innovation Fund, which backs early-stage and scaling businesses in Africa and Asia. The fund channels capital from development finance institutions supported by governments including the U.S., the U.K. and Canada, alongside corporate partners such as Unilever.
