[Munich, Germany; Nairobi, Kenya] 

Uncap is proud to announce the establishment of Unconventional Capital, a €30 million fund dedicated to providing non-dilutive, revenue-based financing to early-stage SMEs in Africa. This new fund represents a significant expansion of Uncap's mission to support growing companies in sectors that drive economic development, particularly in agriculture, trade & logistics, climate resilience, and financial inclusion.  

Unconventional Capital will collaborate with key partners, including SAIS, an ag-tech initiative funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH), as well as O-Farms, a circular agriculture program run by Bopinc and funded by the Ikea Foundation. These partnerships will enable Unconventional Capital to harness its expertise and networks to better support SMEs in high-impact sectors. 

The fund is launching with initial support from prominent global institutions, including the Bill & Melinda Gates Foundation and the Bayer Foundation. This backing underscores confidence in Unconventional Capital's innovative approach to funding and commitment to fostering sustainable growth in Africa's underserved markets.  

With the launch of Unconventional Capital, Uncap reaffirms its commitment to advancing economic empowerment in Africa. This new initiative marks a strategic step in separating the company’s financial activities from its proprietary technology platform. The recently launched stand-alone SaaS platform, Level, will continue to provide streamlined investment management tools for funders and accelerators across the continent. 

The fund will be led by both Esther Ndet, the current Investment Principal at Uncap, and Franziska Reh, the CEO of Uncap, who will both be stepping into the roles of Managing Partners. Their combined experience and strategic vision will guide Unconventional Capital in delivering impactful financing solutions to early-stage SMEs in Africa. 

Esther Ndeti, Managing Partner, about Unconventional Capital: “Launching Unconventional Capital is a pivotal moment for us, and I'm honored to step into the role of Managing Partner. Over the past three years, we've championed innovative, alternative financing for businesses across Africa. This fund will address capital gaps for early-stage SMEs as they scale, deepening our impact. I’ve seen firsthand the tenacity and brilliance of our team, and I’m thrilled to continue this journey alongside them. As we launch the fund, we're not just aiming to support more businesses but to set new standards in the industry for innovation and inclusion. Here's to the future – one that's even brighter and bolder." 

About Uncap 

Since its inception in 2019 and official launch in 2021, Uncap has invested in several early-stage SMEs across sub-Saharan Africa. With its revenue-based financing approach, Uncap has been amongst the pioneers of alternative financing for businesses in Africa.

Contact: Esther Ndeti 
Unconventional Capital 
esther@unconventional.capital