ImFact is an expanding fintech company that is pioneering a new, technology-driven approach to receivable financing 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




Smart finance for SMEs in the supply chain


Whole-sale Receivable Financing


Kenya, Sub-Saharan Africa

In portfolio since


Our role

Committed capital: £3.04 M Instrument: 
  • Equity – £2.94 M
  • Grant of – £0.10 M

Our investment

  • We provided the early-stage risk financing to a green-field operation developing a technology-enabled wholesale receivable financing product 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 foster a better understanding of technology-enabled wholesale receivable financing.

Purpose and target market

  • The ImFact product should contribute to increased volumes of finance to SMEs and deepen capital markets products using asset-backed securities.
  • It will test and drive digital innovations for supply chain finance solutions that can be applied in other sectors and geographies.
“We are delighted to welcome FSDAi into IMFact in support of our early growth in Kenya and expansion to other African markets. We are passionate about financial services innovation and believe that IMFact will prove to be a step-change in broad access for Africa’s MSMEs to working capital. With its innovative approach in using the pooling of debtors to mitigate risk, IMFact has a very competitive product that directly addresses the barriers for Africa’s MSMEs to access formal and affordable finance.” Joost Zuidberg, Chief Executive Officer Cardano Development

Impact to date

Projected impact

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

$600 M Value of receivables expected to be purchased

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

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

Investee contacts

Shiriki House Office Community (Westside),
Nairobi, Kenya

FSD Africa contact

Riverside Green Suites (Palm Suite),
Riverside Drive,
Nairobi, Kenya

Updated: September, 2023