Transaction Summary
Renew Capital Ltd (Renew Capital) has invested in Power Financial Wellness, Inc. (Power), a fintech company with customers and subsidiaries in Kenya, Uganda, Tanzania, Zambia, Rwanda, and India. Power provides a comprehensive digital financial platform that enables banks, lenders, asset managers, and insurers to seamlessly offer their services to formal and informal workers. The investment, announced on 26 December 2024, follows a $3 million seed round in 2023 led by DOB Equity, which aimed to help Power scale its operations in Zambia and expand across Africa. Renew Capital manages investments for a global network of over 200 angel investors, foundations, and family offices seeking financial returns and sustainable social impact. Its three core funds include the Renew Venture Lab Fund series, with Fund 1 launched in 2023 and Fund 2 in 2024, both focused on early-stage tech startups, while its growth-stage fund, Renew Capital Fund 1, provides follow-on investments for
