Goodwell Investments

Invest with Impact

Goodwell Investments is a pioneering investment firm focused on financial inclusion, fintech and inclusive growth in sectors providing basic goods and services and income generation opportunities to the underserved.

Since 2006 Goodwell has raised 5 funds with over $ 100 mln in capital. Goodwell has invested equity in early stage businesses in financial services and technology companies in India and Africa, ranging from classical microfinance to mobile payments, rural banking, affordable housing finance to merchant payment networks and public transport technology.

Goodwell’s 25 portfolio companies have reached over 12 million households with more than USD 1.7 billion in financial products and services, and employ more than 30,000 employees. African portfolio companies in the fintech field include Paga (Nigeria), Nomanini (South Africa) and Musoni Systems (pan-African), and in mobility tech WhereIsMyTransport (pan-African).

Goodwell manages its funds with teams on the ground that have become local leaders in the impact investment sector. Partners are located in India (Aavishkaar), Nigeria (Alitheia), Ghana (JCS), Kenya (Voxtra) and South Africa (Goodwell South Africa).

Goodwell has recently launched uMunthu, a new EUR 100m fund for Sub Sahara Africa, that will invest in financial inclusion, agribusiness and other inclusive growth sectors with a heavy focus on the digital economy. 

uMunthu Inclusive Growth Investment Fund aims to broaden access to financial services and other basic goods and services for un(der) served populations in Sub-Saharan Africa. uMunhtu’s goal is to fuel the growth and improve the outreach of inclusive businesses involved in water and sanitation, agriculture, energy, or health. It is founded on the principal belief that broadening access to basic goods and services such as financial services, energy, housing, healthcare, education, clean drinking water or sanitation facilities for un(der)served groups in society contributes to long-term, sustainable development. The company will provide patient risk capital and active guidance and support enhancing the development and scale up of investees.

80% of the fund’s investments will focus on the countries where Goodwell has a presence. Half of the fund investments will be in the financial inclusion sector whilst the other half will be in SME’s providing basic products and services.


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Location Herengracht 201, 1016 BE Amsterdam, Netherlands
Angola, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Congo, Democratic Republic of the, Côte d'Ivoire, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, United Republic of, Togo, Uganda, Zambia, Zimbabwe
Agribusiness, Clean technology, Computer software, Construction, Consumer durables, Consumer non-durables, Diversified services, EdTech, Education, Financial services, Food and beverage, Healthcare, HealthTech, Internet, Manufacturing, Mobile, Real estate, Renewable energy, Utilities, Waste management and recycling, Water, sanitation and hygiene