
Senegalese Startup Kwely Secures Funding to Expand Made-in-Africa Products Globally
Senegalese startup Kwely has secured funding from Fuzé, a venture capital arm of leading investment group Digital Africa.
DEG, the German development finance institution, has increased its investment in Mediterrania Capital IV Mid-Cap by an additional €15 million.
This move strengthens its long-standing partnership with Mediterrania Capital Partners and reaffirms its commitment to promoting sustainable private sector growth across North and West Africa.
Mediterrania Capital IV focuses on supporting mid-sized, high-potential companies across key sectors such as healthcare, education, and consumer goods.
With this increased backing from DEG, the fund is expected to enhance its impact by driving job creation, improving local business performance, and contributing to long-term economic stability in the region.
So far, it has helped create over 1,500 new jobs, contributing to the UN’s Sustainable Development Goal on Decent Work and Economic Growth.
Beyond capital investment, DEG is also actively involved in providing advisory support to Mediterrania and its portfolio companies.
Through its subsidiary, DEG Impulse, the institution delivers customized Business Support Services (BSS).
These services help businesses lower their CO₂ emissions, boost energy efficiency, and adopt renewable energy solutions.
The goal is to strengthen the climate resilience of local companies and promote environmentally responsible growth.
Mediterrania Capital IV also qualifies under the 2X Challenge, an international initiative that encourages investments promoting gender equality.
As part of this, the fund is implementing practical strategies to advance women’s participation and leadership within its portfolio companies.
This latest investment reflects DEG’s integrated approach—combining finance and technical assistance to build a stronger, more inclusive, and climate-conscious private sector in Africa.
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Senegalese startup Kwely has secured funding from Fuzé, a venture capital arm of leading investment group Digital Africa.
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