Luxembourg based Regmifa Secures Additional $10m Funding for Africa Startups

Luxembourg based Regmifa Secures Additional $10m Funding for Africa Startups

Luxembourg-based venture capital firm the Regmifa fund supporting African startups has announced it secured additional $10 million financial support from the Dutch development bank (FMO).

The Regmifa fund was created by FMO in 2010 in Luxembourg, but with a primary focus on African SMEs.  The FMO is a bilateral private-sector international financial institution based in Hague in the Netherlands and has been a long-standing financial partner of Regmifa since 2010.

Laure Wessemius-Chibrac the president of Regmifa speaking on the funding said that it highlights the confidence in Regmifa.

“The investment provided by FMO underlines the confidence placed in Regmifa. It will go a long way in supporting small and medium-sized enterprises.

“Regmifa is a unique blended finance structure that combines the provision of debt finance and technical assistance,” said Laure.

The recent funding will bring the total assets held by Regmifa to more than $160 million. The firm which operates in underdeveloped countries in sub-Saharan Africa, and has generated nearly $440 million since its creation, intends to use the funding for further investments in sub-Saharan Africa.

Regmifa will select more than 50 financial institutions to which it will provide long-term financing as well as subordinated loans which will then be on-lent to low-income households, as well as to African small and medium-sized enterprises (SMEs).