Total amount raised
$49.3 Million
Latest funding date
2/1/2024
Location
Family Bank has successfully raised funding over 4 rounds, with the latest being a Debt Financing round. The bank is backed by 6 investors, including notable names like EIB Global and eco.business Fund.
Keep reading to explore the intricacies of Family Bank's fundraising journey and the investors supporting this financial institution.
What Is Family Bank?
Family Bank is a commercial bank based in Nairobi, Kenya, operating in the banking, finance, and financial services industries. The bank is regulated by the Central Bank of Kenya and is a member of the Deposit Protection Fund.
With an employee count ranging from 1001 to 5000, Family Bank offers a wide range of services, including personal and business banking solutions, loans, mortgages, and digital banking options. The bank has been acquired by the Kenya Tea Development Agency and is supported by several investors.
How Much Funding Has Family Bank Raised?
- Debt Financing
- Amount Raised: USD 30,000,000
- Date: March 2023
- Lead Investors: African Development Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support expansion efforts.
- Debt Financing
- Amount Raised: KES 805,000,000 (approx. USD 7,000,000)
- Date: February 2024
- Lead Investors: eco.business Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund loaning activities for agribusinesses.
- Debt Financing
- Amount Raised: EUR 50,000,000 (approx. USD 55,000,000)
- Date: May 2025
- Lead Investors: EIB Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expansion and liquidity management.
- Private Equity
- Amount Raised: USD 14,300,000
- Date: October 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure capital for growth and development.
Total Amount Raised: USD 106,300,000. Current Valuation: Not publicly disclosed.
Key Investors
- EIB Global
- Details: EIB Global is a major investor in Family Bank, participating in multiple debt financing rounds. It is a branch of the European Investment Bank focused on international partnerships and development finance.
- Investment Focus Areas: Infrastructure, climate action, innovation.
- Notable Investments: Family Bank, various infrastructure projects in Africa, climate action initiatives.
- eco.business Fund
- Details: eco.business Fund is a significant investor in Family Bank, known for its focus on sustainable development. It aims to promote business practices that contribute to biodiversity conservation and sustainable use of natural resources.
- Investment Focus Areas: Agribusiness, sustainable forestry, eco-tourism.
- Notable Investments: Family Bank, various sustainable agribusiness projects, eco-tourism ventures.
- African Development Bank
- Details: The African Development Bank is a key investor in Family Bank, participating in debt financing rounds. It focuses on spurring sustainable economic development and social progress in its regional member countries.
- Investment Focus Areas: Infrastructure, agriculture, private sector development.
- Notable Investments: Family Bank, various infrastructure projects across Africa, agricultural development programs.
What's Next for Family Bank?
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Given the lack of specific information from the sources, I cannot accurately write a section covering what's next for Family Bank, including opportunities, future fundraising, and challenges. Please provide more detailed and relevant sources to proceed with the request.
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