Stanchart Women in Tech

Stanchart partners with Village Capital to finance Women in Tech program alumni

Standard Chartered Bank (Stanchart) has partnered with Village Capital to pilot a financing facility aimed at investing in the Bank’s Women in Tech program alumni.

The initiative will be focused on early-stage, impact-focused start-ups led by women founders. This is expected to address the gender financing gap that persists in the entrepreneurial ecosystem. With a key objective of providing much-needed catalytic capital, empowering women entrepreneurs to overcome the challenges they face in accessing investment and financing opportunities compared to their male counterparts.

As part of the partnership, Village Capital has invested in two women-led start-ups: Bena Care, a Kenyan start-up delivering affordable clinical and supportive care to patients with life-limiting illnesses in the comfort of own homes, and Mighty Finance, a Zambian fintech start-up with a compelling mission to provide access to capital for primarily women-led businesses.

Benacare will receive USD 75,000, while Mighty Finance will receive USD 75,000, bringing the cumulative investment to $150,000.

“We are excited to be able to partner with Village Capital to bolster our successful Women in Tech program, which has trained more than 70 women-led businesses by providing them with critical support to help scale their businesses to international standards,” said Joyce Kibe, Head, Corporate Affairs, Brand and Marketing, Standard Chartered.

“We believe by supporting more women in business, we are stimulating more robust and resilient economic activity, while providing support for inputs that are often neglected for start-up businesses,” said Ms. Kibe.

Since its inception, Standard Chartered’s Women in Tech program has successfully completed six cohorts where 64 women led businesses have participated in the programme. Thirty-two of the businesses have been awarded grants totalling KES44 million.

The new partnership showcases Standard Chartered and Village Capital’s shared commitment to fostering diversity, equity, and inclusion in impact investing.

By leveraging Village Capital’s extensive experience unlocking capital for impact-driven start-ups operating in underserved markets and Standard Chartered Bank’s dedication to empowering women entrepreneurs, this collaboration is poised to make a meaningful and lasting impact on the global entrepreneurial landscape.