Renew Capital has broadened its impact investment footprint in Africa with recently strategic backing for two startups driving innovation in fintech and e-mobility: Tunisia’s Konnect and Kenya’s STIMA.
In its first foray into Tunisia, Renew Capital has invested in Konnect, a payment gateway at the forefront of digital payment solutions in North Africa. Recognized by the Central Bank of Tunisia, Konnect offers a secure, scalable platform designed to simplify online transactions for businesses of all sizes.
With tools such as payment links, e-commerce plugins, and a robust API, Konnect aims to promote financial inclusion and accelerate the adoption of digital payments. The company is also addressing barriers to financial access for the unbanked, leveraging partnerships, including one with VISA, to extend secure payment services to underserved communities.
“We’ve built Konnect to make digital payments more accessible, secure, and user-friendly,” said Amin Ben Abderrahman, Konnect’s founder. “Our platform enables businesses and individuals to manage their payments seamlessly, supporting both financial growth and digital transformation across the region.”
Konnect’s platform integrates advanced fraud detection and remote onboarding technologies, playing a pivotal role in modernizing North Africa’s financial ecosystem. Karim Ben Fadhel, Renew Capital’s investment ecosystem development manager, described the company as “setting a new standard for digital payments” by combining innovation with a commitment to financial inclusion.
Kenya’s STIMA: Pioneering Battery Intelligence for the EV Industry
In Kenya, Renew Capital has invested in STIMA, a company revolutionizing battery management for electric vehicles (EVs). STIMA’s smart platform enables efficient battery fleet monitoring, predictive maintenance, and lifecycle optimization. This data-driven solution supports businesses in reducing costs, extending battery lifespan, and mitigating investment risks in e-mobility.
“STIMA provides actionable insights that empower e-mobility businesses to enhance their operations and maximize returns,” said Jason Gras, co-founder of STIMA. The platform’s ability to analyze real-time data ensures streamlined operations, safer deployments, and a stronger case for large-scale financing in the EV sector.
STIMA has collaborated with key players in Africa’s EV market, including Bboxx, Greenwheels, Roam, and MAX, to scale battery-swapping infrastructure. With Africa’s EV industry expanding, the demand for efficient battery management solutions is critical. Esther Mwikali, a senior investment manager at Renew Capital, noted that “STIMA’s platform addresses a pressing market need, enabling businesses to manage their battery fleets effectively while contributing to the growth of sustainable mobility.”
Renew Capital, an Africa-focused impact investment firm, continues to prioritize scalable solutions that drive financial inclusion and economic growth. By backing companies like Konnect and STIMA, Renew Capital reaffirms its mission to support entrepreneurs offering transformative technologies in emerging sectors.
Both investments are supported in partnership with Global Affairs Canada, emphasizing Renew Capital’s collaborative approach to fostering sustainable development across the continent.