Summary:
USD 150,000 investment in women-led startups Rhea and Regxta
Rhea focuses on affordable soil testing in Kenya
Regxta enhances financial inclusion for women-owned businesses in Nigeria
Investment supports Standard Chartered’s Women in Tech Financing Facility
Aims to address gender disparities in access to funding
Village Capital has made a significant move by investing USD 150,000 in two women-led startups, Rhea and Regxta, aiming to foster innovation in agritech and financial inclusion across Africa.
Investment Details
Village Capital's investment, facilitated through Standard Chartered’s Women in Tech Financing Facility, supports the Futuremakers program. This funding aims to empower women entrepreneurs in overcoming the unique challenges they face in the business landscape.
About Rhea
Rhea is making waves in Kenya's agriculture sector by offering affordable soil testing solutions to smallholder farmers. Their mission is to enhance crop yields and promote soil health, which is crucial for sustainable agriculture.
About Regxta
Operating in Nigeria, Regxta is dedicated to advancing financial inclusion. They provide tailored services to micro, small, and medium-sized enterprises (MSMEs), focusing particularly on women-owned businesses.
Priscilla Wakarera, Founder of Rhea, states:
"Building a science-driven hardware-software business in Africa’s agritech sector is challenging... Village Capital’s investment will help us finalize the production of our Agripad devices and expand our agent network."
Rukayat Bello, Founder of Regxta, shares:
"Village Capital’s investment arrived at a crucial time, enabling us to expand our reach and secure a microfinance banking license."
Addressing Gender Disparities
The Women in Tech Financing Facility reflects the commitment of Village Capital and Standard Chartered to tackle gender disparities in funding access. By providing catalytic capital, they empower women entrepreneurs in underserved regions, facilitating meaningful change in their communities.
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