Kasha Global Inc, an e-commerce company that provides women’s health and personal care products to customers in Rwanda and Kenya, has roped in another international development finance institution to expand its business.
The US International Development Finance Corporation (DFC) has invested $1 million as equity in Kasha, adding to previous commitments by European peers Finnfund and Swedfund.
Led by founder and CEO Joanna Bichsel, Kasha offers health and personal care products for women. It is active in Rwanda and Kenya and allows users to buy the products either by dialling a number or through an internet platform.
The company was started in 2016. It claims to have delivered over 1 million product units to over 130,000 unique customers. Of those, 63% are low-income customers in Rwanda and Kenya.
The fresh funding adds to money committed by other investors.
Last march, Finnish DFI Finnfund committed $1 million for Kasha. In October, Sweden’s Swedfund provided $1 million to Kasha to accelerate growth and impact across Kenya and Rwanda, improve its platform and support its expansion into other African countries.
Kasha also counts over half a dozen other backers such as impact investment fund Beyond Capital, which is active in early-stage social enterprises throughout India, Kenya, Tanzania, Rwanda, and Uganda.
PG Impact, an employees’ foundation of alternative investor Partners Group; East Africa Investments, a regional impact investor; Sunu Capital and Sorensen Impact are among Kasha’s other investors.