Superfluid labs leaps into 2020 on strong fundraising and growth performance.

Superfluid mashup

Frankfurt, (Germany), January 2020. Superfluid LabsSuperFluid Labs is a Kenya/Ghana-based data analytics/machine learning software platform that is exemplary of the potential and innovation GreenTec Capital sees in Africa. The company finished the 2019 fiscal year on strong footing demonstrating an uptick in development and sales, as well as successfully raising funds from several investors. Superfluid has now begun 2020 with even stronger momentum following their victory at the ENGIE credit-scoring challenge in Kigali during the 2020 Africa Tech Summit.

Superfluid's team on the ATSK stage as winner
Superfluid’s team on stage at the Africa Tech Summit after winning the ENGIE Challenge in Kigali.

Since signing with GreenTec, Superfluid has focused pivoting their business from a successful consulting company to become a SaaS platform to enhance their scalability. The team focused much of their 2019 activities on business model optimization efforts and transforming their product offering to a SaaS-delivery consumer scoring solution for banks, financial institutions, and other asset finance merchant retailers. The updated strategy clearly paid off. Based on the company’s performance and rapid implementation of the SaaS solution the company underwent a funding round starting in Q3 2019. We are happy to report that Superfluid attracted investments from a consortium of investors including a Cape Town, South Africa-based angel investor; Joint Adventures LLC, a US-based PE company; and a German angel with extensive experience in private equity and alternative investment space. The raised funds will be used to further implementing their SaaS-delivery consumer scoring solution and developing sales channels. By years’ end Superfluid had doubled its client list and processed more than 250,000,000 records. With one of the company’s new clients, SuperFluid tools were used to analyze the company’s loan book and suggest customers for additional fine-tuned product up sales, improving the Customer Life-Time Value and the Portfolio value from -7 USD to +38 USD.

Superfluid Platform tools
Tools available through the Superfluid SaaS platform.

Following the strong 2019 performance, the Superfluid team delivered again being selected as the winner of the ENGIE Challenge at the Africa Tech Summit in Kigali. The victory secured Superfluid the opportunity to implement their solution in a pilot with one of Africa’s leading multi-national companies. The victory was also a marketing coup, resulting in multiple interested inquiries and the solidification of several contracts for the company’s innovative services.

The resulting success rightly belongs to the Superfluid team whose tireless efforts at perfecting their platform and service offerings with GreenTec support have paid dividends. Following the company’s pivot, they are poised for even further growth in sales and well set up for international scale.  Superfluid’s investors, GreenTec among them, are all vindicated in their choice to support the company.





Other Posts

Amitruck raises $4 million for scaling into Uganda and Tanzania

Frankfurt (Germany) and Nairobi (Kenya), February 2022. GreenTec Capital is very pleased to report that Amitruck, our Kenya-based logistics-tech portfolio company, has closed a US$4 million seed round. Amitruck will use the funds to bolster its operations, technical, and sales teams supporting its expansion in East Africa. The funding round was led by Better Tomorrow…

read more

GreenTec invests in Nigerian Mobility Solutions platform T40

Frankfurt (Germany) and Lagos (Nigeria), October 2021. GreenTec Capital is very pleased to announce our investment in T40, a Nigerian intercity transport- and logistics-tech company developing solutions to help mobility service providers offer better service to their customers and increase their revenues. The African continent is experiencing one of the highest rates of urbanization globally….

read more

Amitruck selected for Google’s Black Founders Fund

Frankfurt (Germany) and Nairobi (Kenya), October 2021. We are very pleased to report that our Kenyan logistics-tech start-up Amitruck has been selected for Google for Startups Program’s newly launched Black Founders Fund. The $US 3 million facility has selected 50 start-ups from across Africa to receive the equity-free funding as a part of Google’s racial…

read more