BluePeak Private Capital's inaugural impact-driven fund has announced an investment of $20 million in Watu Africa, marking the fourth investment for the fund. Watu is an East African asset leasing company that focuses on improving mass-market mobility and has a presence in six countries across Africa. The company has financed over 400,000 two and three-wheeler vehicles since its inception.
The investment in Watu is aimed at increasing access to financial services for underserved and unbanked individuals. As it expands across Africa, Wat will use the funding to provide financing to entrepreneurs, enabling them to acquire income-generating assets that will empower themselves and their communities.
In addition, Watu is one of the pioneers of Africa's movement towards clean and green mobility, aiming to progressively increase the availability of electric bikes to reduce the carbon footprint in African cities.