Vitas Ventures: Investing in the future of financial inclusion
Digital transformation is an increasingly important part of Vitas Group’s growth. Across our markets, as well as emerging markets elsewhere in MENA and Sub-Saharan Africa, new digital-native platforms are rising to meet the financing and service delivery needs of consumers and entrepreneurs. This new generation of financial service providers present an opportunity for Vitas to leverage our expertise and investment capital for expanded reach and impact.
In 2021, Vitas Group launched Vitas Ventures, an initiative aimed at capitalizing on identified commercial and social return opportunities via direct investment and partnership. Ventures makes debt and equity investments between $250k – $1 million in early-stage companies that further Vitas’ mission of financial inclusion and economic development.
Ventures supplements investment with advisory support and potential partnership with Vitas companies, while leveraging our network of likeminded investors and donor institutions for co-investment and follow-on funding.
Are you raising funds for your early-stage company focused on digital financial inclusion? Please contact Vitas Ventures to discuss potential investment and support.
In 2021, Vitas Group approved an allocation of $5 million to launch Vitas Ventures, an initiative aimed at capitalizing on identified commercial and social return opportunities via direct investment and partnership. Over the course of this year, the Ventures team consulted impact investment industry experts and the newly-formed Vitas Investment Committee to shape an investment mandate and thesis for Vitas Ventures to succeed and scale.
Investment Spotlight
In November 2022, Vitas Ventures finalized its first equity investment in Toters, a food and grocery delivery platform operating in Iraq and Lebanon. Vitas participated alongside IFC as lead investor, its first such venture investment in Iraq. Since Vitas’ initial investment, Toters’ average daily orders and monthly revenue have nearly tripled, and the company has secured a market-leading position in both Lebanon and Iraq. While Toters continues to scale, we Vitas piloted a retailer inventory financing product for its merchants in Lebanon, with plans to build on the partnership in Iraq.
Take the next step in investing with us – connect with Taylor Mills
Senior investment manager, Vitas Ventures.
Linkedin.com/in/taylor-mills-b0a9113a
Email: tmills@globalcommunities.org
Financials
| SUMMARY INDICATORS | JORDAN | EGYPT | EAST AFRICA |
|---|---|---|---|
| Active Banks | 7 | 2 | 2 |
| # Guarantees in quarter | 19 | 1 | 4 |
| $ of guarantees in quarter (mln) | $10.60 | $0.48 | $0.50 |
| # of guarantees since inception | 664 | 688 | 11 | 1363 |
| $ of guarantees since inception (mln) | $187 | $200.30 | $1.22 | $389 |
| Women owned SMEs % of portfolio | 16% | 7.50% | 45% | 23% |