Mobility and Smartphone Financing Platform Secures New Funding

Watu, a Kenyan asset-financing company specializing in mobility solutions and smartphones, has secured a $7 million debt facility from AHL Venture Partners. This marks an expansion of their existing relationship which began in 2022.

Founded in 2015 by Andris Kaneps, Watu provides financing for motorcycles, three-wheelers (through its mobility arm), and smartphones via Watu Simu. The company currently operates across Kenya, Tanzania, Uganda, Rwanda, the DRC, Nigeria, Sierra Leone, South Africa, Mexico, and Brazil.

Key Highlights:

• Since inception, Watu has originated over 7 million loans
• Expanding into electric motorcycle financing in select African markets
• New facility will support working capital and portfolio expansion
• AHL’s commitment now stands at $45.5 million toward a $70 million target

Watu’s focus on providing access to essential assets through flexible financing models addresses critical needs across various African markets, particularly in the informal economy where traditional banking services may be limited.