Project detail - NOMANINI HOLDINGS PROPRIETARY LTD.

NOMANINI HOLDINGS PROPRIETARY LTD.

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Who is our client

With headquarters in South Africa, Nomanini Holdings Proprietary Ltd. (Nomanini) offers technological solutions for informal retailers across Africa, allowing them to access financial services and improve access to working capital within the FMCG value chain.

Funding objective

Nomanini is raising a pre-Series B bridge round for existing and new investors to expand the team and execute on-going and new projects in the pipeline. FMO participates with a USD 500,000 convertible loan from the government fund MASSIF.

Why we fund this project

Nomanini focuses on unbanked vendors, kiosk- and shop holders, while its strategic partnerships allow the FinTech platform to be one of the ‘winning’ models. This fits with MASSIF’s objective to support end-beneficiaries through financing local financial intermediaries and institutions.

Environmental and social rationale

Nomanini acts as a SAAS company by offering its FinTech platform and white-label solutions to banks, MFIs and FMCG manufacturers and distributors. It is classified as a E&S C risk category.

Region
Africa
Country
South Africa
Sector
Financial Institutions
Signing date
12/14/2020
Total FMO financing
USD 0.50 MLN
Fund
MASSIF
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
C