This archive report was first published on 10 July 2019.
July 10, 2019 - Rent to Own (RTO), a Zambia-based business providing productive-use assets to rural SMEs, has secured an investment of EUR 1.0M from the Seed Capital and Business Development facility of the Dutch Good Growth Fund (DGGF) managed by Triple Jump BV.
This investment, combined with convertible notes secured from longtime partners Small Foundation and Lundin Foundation (managed by AHL Venture Partners), will be used primarily as working capital to more than double the company’s portfolio of rural Zambian entrepreneurs.
RTO provides high-impact assets to rural entrepreneurs and smallholder farmers in Zambia, offering a unique “all-in-one” package of uncollateralized financing, delivery, installation, and equipment training.
“Our purpose at RTO is to unlock the potential of rural entrepreneurs to improve the quality of life of their families and communities,” says Jeffrey Scheidegger, CEO. “We are extremely excited by the opportunity provided by DGGF to continue to focus on this mission and rapidly grow our loan book despite the tough economic conditions we are currently experiencing in Zambia.”
Founded in 2010, RTO is a for-profit, socially conscious company that provides uncollateralized finance and last-mile distribution to provide productive assets to rural businesses across Zambia.
