Metier invests in Watu
Watu finances income-generating assets for underserved communities across sub-Saharan Africa.
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Metier, through its Capital Growth Fund III (MCGF III), has invested in Watu, a microfinance institution focused on financing income-generating assets for underserved communities across sub-Saharan Africa.
Founded in 2015, Watu has a strong presence in Kenya, Uganda, and Tanzania, and expanding operations in Rwanda, Sierra Leone, the Democratic Republic of Congo, Nigeria, and South Africa.
The company provides financing for motorcycles – both petrol and electric – and smartphones.
Peter Rowse, principal of Metier said, “Watu represents a compelling opportunity to support a high-growth, impact-driven business that is transforming access to finance across Africa. Their tech-enabled credit model, diversified product offering, and strong execution track record aligns well with our investment philosophy. We are excited to partner with Watu’s leadership team to accelerate their growth and deepen their impact in the region.”
Andris Kaneps, founder of Watu, commented, “We are proud of the journey Watu has taken – from a single-country startup to a pan-African platform empowering over a million clients. Partnering with Metier marks a significant milestone in our growth story. Their strategic support and access to capital will help us scale our operations, strengthen governance, and unlock new opportunities to serve our communities better.”
Watu is the fifth portfolio company of MCGF III, which had its final close at over $219 million in 2024. The fund has a geographic focus on Sub-Saharan Africa and is expected to make eight to 12 equity and equity-related investments into mid-market companies.
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