GreenHouse Capital Launches GreenHouse Lab For Women In Tech

Venture Garden Group (“VGG”), a holding of financial technology entities working in the financial services, power, aviation, education, and cyber security sectors. Since the launch in 2010, the company started at $150,000 in acquiring Convergence Partners as partners who invested $US20 million in VGG to spur cross-border expansion. With their experience of the African landscape across different sectors, the founders decided to start GreenHouse Capital (“GHC”) as an independent investment holding company with the vision of building the largest Fintech investment holding company in Africa through direct investments in African technology companies that are supporting as well as disrupting the tech scene with innovative ideas.

GreenHouse Capital aims to identify, invest and incubate early-stage high-growth technology startups in Nigeria with investments and support infrastructure.

The premise behind our investments is that we think local, but it’s all about scaling globally, said founding partner Bunmi Akinyemiju of GreenHouse Capital to Disrupt-Africa

Vibranium Valley #GreenHouseCapital #GreenHouseLab

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The companies GreenHouse Capital has invested in so far are :

  • AppZone – AppZone is a home-grown banking and payment solutions provider. They supply banking software to microfinance banks and have over 200 microfinance banks on their platform. Right now, they host more than 2 million accounts and have over 75% of Nigerian banks as customers.
  • PrepClassNG – PrepClass is a platform that connects tutors with whoever might need their services. With over 18,000 tutors on their database, PrepClass has provided over 40,000 hours of tutoring and is active in Lagos, Port Harcourt and Abuja.
  • Rensource – Rensource is an energy company that’s built as a financial services business. They offer turnkey business opportunities that allow qualifying companies to sell power as a service (PaaS) to their customers.
  • Electronic Settlement Limited (ESL) – ESL is an indigenous information systems management company that focuses on payment solutions. They operate in four countries – Nigeria, Ghana, Sierra Leone and Zambia – and are the first aggregators of cash payments in Nigeria.
  • MaxNG – MaxNG is an on-demand delivery service that delivers packages 3 hours. Since their inception in 2015, they’ve completed over 20,000 deliveries for 700 businesses.
  • Riby – Riby is a finance management company with a vision to help Africans save, plan and invest. Their solutions give cooperatives, company groups, employees, individuals, associations or financial development institutions a platform to manage their financial activities.
  • TalentBase – TalentBase is a Human Resource Management Solution that helps HR managers and growing businesses organise and simplify their processes. They offer payroll integration services and have partnered with E-tranzact.
  • PlaySpread – PlaySpread is an analytics company that helps businesses optimise their advertising spending by monitoring TV, radio and social media. PlaySpread tracks billions of media signals in real-time and summarises what’s being said about brands, people and products on the Web, Print Media, Radio and TV, so industry users can make better decisions from a data standpoint.
  • Devcenter – Devcenter is a community-driven network of African software developers and designers. With more than 800 developers on their database, Devcenter connects software developers to potential clients.
  • SureBids – SureBids is a digital voucher solution for payments and financial services. They operate in 3 countries and are the owners of SureGifts, SureCredit and SureRemit.
  • Flutterwave – Flutterwave is Iyin Aboyeji’s latest venture and it’s a payments company that provides on-demand access to modern cloud-based payment technology. Operating in Nigeria and Ghana, Flutterwave has processed about $20 million in transactions in just over 4 months of operations.

GreenHouse Capital believes in the having more female-led companies across multiple sectors especially the tech scene receive only 2.2% VC funding yet produce over 30% higher Return-on-Investment. It’s commonly known that female-led companies are hardly given the breathing ground they need to expand their ideas and business. The tech scene has been a heavily male-dominated area, this is the inspiration behind the launch of GreenHouse Lab by GreenHouse Capital.

GreenHouse Lab wants to build world-class, women-led technology companies by equipping entrepreneurs with the skills, resources and support needed to rapidly grow and scale their companies in emerging African markets. They’ll help start-ups validate their ideas, bring their products to market and ultimately, attract venture capital investment with the help of GreenHouse Capital.

We’re looking for the most passionate entrepreneurs who are 100 per cent dedicated to their ideas and understand that the journey to sustainable success will require a high level of drive and commitment. Beyond this, we’re looking for early stage, investment-ready technology startups that have identified a critical need in Africa and are building an effective, sustainable and scalable solution. We’re looking for companies that have developed, at a minimum, a beta product and are in the process of refining their go-to-market strategy, building out sales channels and generating revenue, GreenHouse Capital said.

GreenHouse Lab ready to invest in technology startups that have identified a critical need in Africa and are building an effective, sustainable and scalable solution, companies that have a beta product and are in the process of refining their go-to-market strategy, building out sales channels and generating revenue. The startup applying must have at least one woman on their leadership team which should consist of at least 2 members and no more than 6 with at least one technical member. Selected startups will be required to commit full-time to the program.

According to the Director of GreenHouse Lab, Tosin Durotoye told Guardian: “To tap into the vast brainpower and opportunity for innovation necessary to propel Nigeria and Africa as a whole forward, our mission at GreenHouse Lab is to level the playing field by providing early‑stage, women-led, high‑ growth technology start‑ups with investments and support infrastructure within the range of 250, 000 USD. We also provide exceptional teams with the resources and mentorship network they need to drive growth and scale their companies both in emerging and international markets.

The three-month program will be happening in Lagos with applications for the next batch opening July 2018.

Adedayo Laketu

Adedayo Laketu is a creative inventor who's interested in curating a New Age for Africa across all mediums.

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