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Village Capital, through its Africa Ecosystem Catalysts Facility, has made its first investments in Nigeria, deploying $450k across Trade Lenda and AirSmat. The deal brings the facility’s total portfolio to seven companies across Ghana and Nigeria.
The $4 million pilot facility is managed by Village Capital and backed by FMO, the Dutch Entrepreneurial Development Bank, and the Netherlands Enterprise Agency (RVO).
“What stands out about these startups is how they’re strengthening the systems that businesses and farmers rely on to grow. Both companies are deeply rooted in the realities of their markets, and our role is to make sure they have access to the right capital to grow their impact,” said Husein Merchant, investment officer at Village Capital.
Trade Lenda, a digital financial services platform, received $300k to support its continued growth. The company expands access to finance for SMEs through digital business loans, embedded finance solutions, and Sharia-compliant financing products.
Since launch, it has supported more than 260,000 SMEs and farmers across five of Nigeria’s six geopolitical zones, with 66% of its customers being women.
“The capital has enabled us to accelerate our growth, acquire a higher licence, and attract more competitive funding. Following the investment, we secured an additional $2 million in local debt facilities at lower rates, allowing us to expand lending while reducing our cost of capital,” said Adeshina Adewumi, co-founder and CEO of Trade Lenda.
AirSmat, a climate technology company, received the remaining $150k. The company converts agricultural waste into biochar-based fertiliser, a carbon-removing solution that improves soil health, increases agricultural productivity, and creates income opportunities for farmers through carbon markets.
“Access to capital structured around the realities of building a climate-tech company has been transformative for AirSmat. The investment will be used to complete and commission our commercial biochar-based fertiliser factory, and scale our commercial operations,” said Soji Sanyaolu, founder and CEO of AirSmat.
The facility, which invests in early-stage companies advancing climate resilience and economic mobility across Ghana, Nigeria, and Tanzania, plans additional investments in Nigeria and Tanzania.
The announcement comes a couple of months after Village Capital has committed a combined $500k to three Ghanaian startups – Built Financial Technologies, GrowForMe and SAYeTECH – through its Africa Ecosystem Catalysts Facility (AECF).
