Watu Secures $7 Million Strategic Debt Facility from AHL Venture Partners to Drive African Expansion
The asset-financing platform has closed a fresh debt facility to bolster working capital and scale its mobility and connectivity portfolios across emerging African markets.
NAIROBI / LONDON — Watu has secured a $7 million strategic debt facility from AHL Venture Partners to support working capital and the continued growth of its portfolio across its African markets. The investment builds upon an ongoing financing relationship between the two firms that dates back to 2022.
Founded in 2015, Watu provides asset financing for motorcycles and three-wheelers through its core mobility business, smartphones via its Watu Simu connectivity division, and a growing fleet of electric motorcycles in select markets. Utilizing streamlined onboarding, flexible repayment structures, and localized expertise, the company has successfully originated more than 7 million loans across Kenya, Tanzania, Uganda, Rwanda, the Democratic Republic of Congo, Nigeria, Sierra Leone, South Africa, Mexico, and Brazil.
The new capital injection provides Watu with additional capacity to expand its mobility and smartphone-financing portfolios while ensuring reliable service for customers.
“AHL has been an important funding partner as Watu has grown across Africa. This facility strengthens our working-capital base and gives us additional capacity to expand our mobility and smartphone-financing portfolios while continuing to serve our customers consistently and responsibly,” stated Andris Kaneps, Watu Founder.
AHL Venture Partners emphasized that the transaction reflects its ongoing commitment to backing responsible asset finance and expanding access to essential mobility tools.
“We are delighted to deepen our partnership with Watu and support its continued growth across Africa. Watu's asset-backed model is expanding financial inclusion and clean mobility for millions of underserved customers, generating exactly the kind of measurable social and economic impact that sits at the heart of AHL's priorities,” noted Rosanne Whalley, CEO of AHL Venture Partners.
Rosanne Whalley
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