Goodwell invests in FinTech startup, Nomanini
South African-based enterprise payments platform provider, Nomanini, has raised an undisclosed round of funding from impact investment firm, Goodwell Investments.
Nomanini CEO, Vahid Monadjem (pictured), is reportedly very pleased about the venture.
"The funds and relationship with Goodwell will be used to build towards a larger funding round to fuel the company's explosive growth."
- Read more about Nomanini and Vahid Monadjem here.
Goodwell has a proven track record investing in innovative financial services companies, as well as experience supporting fast-scaling teams, and deep networks in the FinTech sector.
According to Wim van der Beek, managing partner at Goodwell Investments, the impact-investing firm (which already has three funds fully invested) is targeting start-ups at the early-growth stage with high scalability promoting financial inclusion by utilising technology. This explains its interest in Nomanini.
Van der Beek said:
"We expect a lot from their platform and their team. We only invest in companies and teams that have demonstrated a strong capability and growth potential. That is the case with Nomanini."
The investment in Nomanini is the second on-the-ground investment made by Goodwell Investments in South Africa from its EURO50-million uMunthu fund, which is targeting start-ups and high-growth companies in the financial inclusion and FinTech space in Sub-Saharan Africa.