Finnish development financier Finnfund has invested Ksh 100 million (USD 1 million) in e-commerce start-up Kasha to help in its expansion in Kenya and Rwanda.
Kasha sells menstrual care products, contraceptives, pharmaceuticals and a range of beauty products via its platform.
Kasha was founded in Rwanda in 2016 by two former Microsoft employees, Joanna Bichsel and Amanda Arch.
“What drives us is that we can change the way women in emerging markets get their health products. Partnering with Finnfund, we look forward to growing our presence in Rwanda and Kenya as well as expanding to other countries in Africa – and eventually to other parts of the world,” says Kasha’s CEO Joanna Bichsel.
Finnfund started negotiations with Kasha in February 2020.
“We were convinced by their strong mission and at the same time, we see that e-commerce is rapidly growing its share of consumer spending”, says Finnfund’s Investment Manager Johanna Raehalme.
Finnfund is committed to investing 105 million euros in businesses that advance gender equality during 2019-2021.
The investment in Kasha promotes gender equality by creating access to health-related products as well as creating employment and leadership opportunities for women.
