SC Ventures and Yabx, a Tech Mahindra Group company, invest $10 Million to setup Furaha and expand access to purpose-driven financing in Africa

January 24, 2025

Share on

Furaha combines SC Ventures’ global expertise and risk management capability with Yabx’s future-ready tech and alternate lending platform

Furaha offers purpose-driven loans centred around education, gender and other responsible lending pillars for African markets 

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and Yabx Technologies (Netherlands) B.V., a company of Tech Mahindra (NSE: TECHM) group (http://apo-opa.co/42pTSb4), a leading global provider of technology consulting and digital solutions to enterprises across industries, have signed a set of shareholder and technology collaboration agreements to formalise their joint investment in Furaha (www.FurahaFinancial.com). SC Ventures has invested $ 7 million, while Yabx BV has contributed through technology transfer, resulting in a combined investment of $10 million in Furaha. Incubated by SC Ventures, and co-founded by Yustus Aribariho and Ian Fernandes, Furaha is a purpose-driven lending platform aiming to make finance accessible across sub-Saharan Africa, with its first offering being in the education financing space. Furaha is headquartered in UAE’s Dubai International Financial Centre (DIFC) and extending its offerings to local operating markets in Africa, starting with Uganda as its first market.

Continue Reading

Subscribe to our Newsletter

Subscribe to our Newsletter and get first hand to all information pertaining Furaha, our products and our reach. You surely don’t want to miss any of this.