Impact-focused equity crowdfunding portal Malaik has launched a call for applications to African entrepreneurs with impact focused businesses, aiming to help connect businesses with investors.
Disrupt Africa reported in December on the launch of Malaik, which bids to help small and medium enterprises (SMEs) on the continent overcome challenges when it comes to accessing funding. It offers clear and well-documented opportunities for high impact investing in African businesses.
Since its launch, Malaik has fully funded its first company – i-Drop Water – to the tune of over US$250,000, and has been chosen to demo its innovation on stage at European finance conference FinovateEurope 2016 in London. It is now calling on impact-focused African entrepreneurs to apply to be listed on the platform.
“Africa is brimming with entrepreneurs with growing high impact businesses that could not only positively impact Africa, but the world,” said Neku Atawodi, founder and chief executive officer (CEO) of Malaik.
“Access to finance has always been a tough challenge to overcome and people have typically not wanted to invest in African businesses as they have historically been considered too risky. However, the African narrative is changing for the better and the continent’s exponential growth in the last decade shows that an investment in impact focused African businesses can yield high returns.”
Atawodi said young companies all over Africa face a scarcity of funds to fuel their growth.
“Apart from banks and occasional angel investors, there is often nowhere to turn. Malaik is turning this crisis into an opportunity for start-ups and investors alike by offering stakes in young African companies to the crowd. Our unique impact tracker means that investors can track their investments’ impact on the platform,” she said.