(Ecofin Agency) - Beyond Capital Fund, a social impact investment fund, has acquired equities in Tula, the Kenyan start-up that helps farmers save and obtain loans for inputs. The financial details of this transaction have not been disclosed yet.
Tulaa, founded in July 2017 by Hillary Miller-Wise (photo), is thus becoming the eighth company in Beyond Capital’s portfolio. The startup, which helps farmers sell their products, will fund its expansion and develop its platform.
In August 2018, it raised $627,000 in a fundraising operation led by AHL Venture Partners and in which four investors (including Beyond Capital) took part.
During an interview with a local media, Hillary Miller-Wise, while estimating African small farmers’ financing needs to about $30 billion, said that less than 4% of bank loans were dedicated to Kenya’s agricultural sector.