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IMFact

Overview

About

ImFact is an expanding fintech company that is pioneering a new, technology-driven approach to receivable financing in order to avail working capital to MSMEs. As a “pooled receivables” factoring business, ImFact purchases bulk invoices from MSMEs for a mix of upfront cash and deferred payments, allowing for faster cash-conversion cycles.

Investment Details

Name

IMFact

Tagline

Smart finance for SMEs in the supply chain

Sector

Whole-sale Receivable Financing

Location

Kenya

In portfolio since

2021

Our role

  • FSDAi invested in ImFact to encourage the development of technology-enabled wholesale receivable financing as a new venue for SMEs to access working capital across the continent.
  • FSDAi’s equity investment was critical as Covid-19 placed undue pressure on MSMEs in many sectors. ImFact’s innovative solution will release additional cashflow which previously was locked up as well as providing faster access to working capital.
  • FSD Africa’s grant to ImFact will build the capacity of SMEs on their management of credit and cashflow and to foster a better understanding of technology-enabled wholesale receivable financing.

Our investment

Committed capital:£2.59 million

Instrument:  Equity

* £2.49mn Grant of £0.08mn

Purpose and target market

Through ImFact we seek to:
  • Reduce the financing loops that will allow for greater volumes of trade, better financial viability of MSMEs, therefore stronger MSMEs producing quality jobs.
  • Test and drive the replicability of technology driven supply chain finance solutions in other sectors and geographical markets.
  • Eventually deepen capital markets products using asset-backed securities

Impact to date

Projected impact

5600 Number of jobs expected to be created/retained as a result of the investment

$600m Value of receivables expected to be purchased

400 Number of SMEs expected to benefit from ImFact’s product

5 Number of countries that ImFact is expected to replicate its model

Investee contacts

Shiriki House Office Community (Westside), Nairobi, Kenya
contact@imfact.ke

FSD Africa contact

Riverside Green Suites (Palm Suite), Riverside Drive, Nairobi
FSDAi-info@fsdafrica.org

Updated: October, 2022