AfroVumbua, an online professional and social network that helps connect early stage African innovators with investors and other innovators across the globe is set to identify, coach and help East African early stage businesses get funded.
The firm coaches firms to make them “Investment-Ready” then sources viable financing solutions for them. Afro stands for Africa while Vumbua is swahili for innovate .
According to Robinson Esialimba, founder and CEO, “AfroVumbua has developed a deep network within the business community and work with business associations, business and entrepreneurship schools, government agencies, investment funds and incubators to give us access to a large pool of interesting business ventures”
AfroVumba says it uses a well-developed selection criteria to filter high yield firms for funding and also regularly hold FREE “Firestorming” sessions with founders around business model development, IP rights and company valuation.
AfroVumba then connects the founders with investors seeking technology investment opportunities in Africa.
The platform warns that it is not an investment brokerage service but simply creates a platform for innovators from Africa to meet meet with investors in a move to help them raise funds or capital to tun their businesses.
Capital Not An Issue
AfroVumbua says though founders decry lack of capital the challenge facing them is the inability to present their enterprises as ventures worth investing in as there is “too much money chasing too few fundable deals”.
AfroVumbua is therefore focused on assisting small and medium-sized business owners reduce the risk profile associated with early stage businesses by helping them build and implement great business models which may help them grow and raise their own revenue or attract investors.
To achieve its objective of getting entrepreneurs ready for investment, AfroVumbua has launched an innovative, hands-on and action oriented coaching program dubbed Get Fit for Funding (G3F). G3F combines the Business Model Canvas and the Lean Launchpad Methodologies which have transformed startups into billion dollar businesses including Dropbox and Wealthfront. AfroVumbua believes founders will learn to build their businesses around the models which have already been proved successful.