AHL Venture Partners has finalized a $7 million strategic debt facility for Watu, an asset-financing company operating in Africa and Latin America. The investment, announced this week, is intended to support the company’s working capital needs and the expansion of its asset portfolio in select African markets.
The facility builds on a financing relationship between the two entities that dates back to 2022. According to AHL, the investment reflects a continued focus on responsible asset finance and expanding access to mobility and connectivity assets.
Watu, founded in 2015, operates two primary business lines. Its mobility division finances motorcycles and three-wheelers, while its connectivity arm, Watu Simu, finances smartphones. The company has recently begun expanding its financing of electric motorcycles in certain African markets.
The company reports it has originated more than 7 million loans since its inception. Its operating model relies on streamlined onboarding processes, flexible repayment structures, and local market expertise — a framework designed to maintain consistency and scale across different products and geographic regions.
Rosanne Whalley, CEO of AHL Venture Partners, commented on the transaction, stating that the partnership is aimed at supporting Watu’s growth trajectory. “Watu’s asset-backed model is expanding financial inclusion and clean mobility for millions of underserved customers,” Whalley said, noting that the investment aligns with AHL’s priorities regarding measurable social and economic impact.
Andris Kaneps, Founder of Watu, noted the role of the funding in the company’s operational capacity. “This facility strengthens our working-capital base and gives us additional capacity to expand our mobility and smartphone-financing portfolios,” Kaneps said, adding that the company remains focused on serving customers consistently and responsibly.
Watu is an asset-financing company focused on mobility and connectivity. It finances motorcycles, three-wheelers, and smartphones used for work and everyday connectivity. The company maintains operations in Kenya, Tanzania, Uganda, Rwanda, the Democratic Republic of Congo, Nigeria, Sierra Leone, South Africa, Mexico, and Brazil.
The facility for Watu follows AHL Venture Partners’ recent announcement regarding the second close of its AHL Africa Credit Fund I (ACF). The fund has raised $45.5 million from family offices and foundations, moving toward a target of $70 million.
The latest close includes a $15 million senior facility, with Ceniarth providing $5 million and a co-investor providing the remaining $10 million. Anchored by the AHL Foundation, the fund is structured to attract private capital from high-net-worth individuals, family offices, local asset managers, and foundations seeking exposure to African credit markets.
The fund provides senior secured, mezzanine, and bridge loans ranging from $2 million to $10 million to high-growth, profitable businesses across East, West, and Southern Africa.
Whalley addressed the broader strategy behind the fund, noting the structural challenges in mobilizing capital. “There are brilliant, high-growth businesses across the continent solving real problems… But, there is a matching problem in finding a structure that works for both,” she said. “Our aim at AHL is to partner with capital allocators to get more capital consistently flowing into African private markets.”
The debt facility to Watu is not dilutive to the company’s equity and serves as a direct injection of capital to support its balance sheet as it scales its lending operations.