Kountable Nominated for the Doing Business in Africa Award

The Netherlands-African Business Council (NABC) announced last week that voting for this year’s Doing Business in Africa Award has officially closed. Of the four companies nominated, now only three are in the running and will present their business success story at the annual African Ambassadors’ Dinner, where the recipient of the award will be announced.

Kountable along with the other final nominees Delft Imaging Systems and JobnetAfrica were selected based on the criteria of innovation, sustainability and profitability in African markets. Each company offers a unique product or service to consumers in Africa.

Delft Imaging Systems provides diagnostic imaging devices that can run without an internet connection, helping to diagnose TB in its early stage and in remote locations. JobnetAfrica is an employment platform for both international candidates interested in working in Africa and African companies looking to recruit expat employees. Kountable is a global trade network that connects small businesses with global suppliers to help in the fulfillment of large government, NGO or corporate contracts, which improve infrastructures, local economies and access to technology.

The recipient of the Doing Business in Africa Award will be selected by popular vote from the event attendees and members of the NABC. Established in 1946, NABC is a robust organization of 350 Dutch companies of varied sizes and collaborates with both the private and public sector: the Dutch government, institutions, NGOs and African embassies. This year marks a decade of honoring outstanding companies doing business on the continent and will take place November 30, 2018 at the Rabobank Headquarters in Utrecht of the Netherlands.

Winners of the award from previous years are the following: Safi Sana (2017), FORM International (2016), Bejo Zaden (2015), Waka Waka (2014), Portside (2013), Kroftman Structures B.V. (2012), Remco Afrique (2011), Intercommerce 2010), BIG Machinery (2009).

Read about the 2018 winners.

Kountable Secures $150 Million Funding from Leading Alternative Asset Manager

By Chris Hale, Kountable CEO

Kountable, which provides trade-finance to SMEs in growing economies around the world, announced today it will receive up to $150 million in funding from an asset manager focused on private credit.

As a pioneer and leader in the platform investment space, this firm has been an early partner for many growing, innovative fintech platforms. Trade finance is a multi-billion dollar market with the opportunity to create high-yield, short-term assets within the global supply chain.

“Trade finance is the lifeblood of the global economy but is ripe for disruption by a fintech platform such as Kountable. It took the vision of a team like theirs to see how the Kountable platform unlocks this market by using social connectivity, mobile technology and big data to further de-risk these transactions,” said Chris Hale, Founder and CEO of Kountable. “We’re extremely excited that they’ve chosen to become our first institutional partner.”

The infusion of up to $150M by this expert in alternative assets will further catalyze Kountable as a significant player in this market and bring increased capabilities to critical participants across the globe.

“The proliferation of mobile has made it possible to identify and engage tens of thousands of previously invisible entrepreneurs and SMEs that play a critical role in the global supply chain,” said Hale. “Our technology platform makes it possible to provide trade finance, accountability, and growth opportunities for what they do every day to improve healthcare, IT, education, and hospitality systems globally.”

By networking this previously isolated group of talented entrepreneurs and SMEs, Kountable is able to map, strengthen and discover new international trade pathways to provide faster, safer, more efficient and transparent global supply chains for the Fortune 500 and beyond.

In addition to this line of credit, Kountable has raised $6 million in early stage financing. This funding investment has been used by Kountable to hire development talent, scale channel capabilities, and increase its global footprint through deepening its enterprise partnerships.