BFA Asset Management has invested US$1.2 million in ANDA, an Angolan mobility startup, through the Kimbo Fund, a pioneering private credit vehicle dedicated to Angola’s small- and mid-market enterprises.
The investment, announced in March 2026, will support ANDA’s “drive-to-own” asset financing model, which provides integrated financing, professional training, and operational support to drivers of two- and three-wheeled vehicles through designated “safe stops.”
Founded in 2022, ANDA aims to formalise and professionalise Angola’s largely informal urban transport sector by offering a comprehensive ecosystem that combines asset financing with training and logistics infrastructure.
This round follows ANDA’s successful US$3.4 million seed round co-led by international venture capital firms Breega and Speedinvest.
Strategic Rationale Behind the Investment
The Kimbo Fund, managed by BFA Asset Management, focuses on deploying patient private credit in underserved segments of Angola’s economy where traditional bank financing remains limited.
ANDA’s model addresses a critical gap in the urban transport sector by transforming informal motorcycle and tricycle operators into more stable, professional service providers.
The US$1.2 million investment will be directed toward:
- Fleet expansion and modernisation, including the strategic integration of electric vehicles.
- Scaling of logistics infrastructure and “safe stop” networks.
- Development of advanced technology platforms, including artificial intelligence capabilities for customer management, route optimisation, and operational efficiency.
This capital complements ANDA’s earlier equity funding by providing flexible, longer-term debt financing suited to asset-heavy growth in the mobility sector.
This investment reflects our firm commitment to supporting key growth sectors like transport and logistics. ANDA has demonstrated operational discipline and clear potential for expansion in a vital part of the economy
Rui Oliveira, CEO of BFA Asset Management
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The investment will drive the growth of our multi-asset fleet and the development of cutting-edge technology. We plan to leverage artificial intelligence to better serve our growing customer base at scale
Co-founder Sergio Tati
Significance of the Three-Year Due Diligence Process
The transaction followed an extensive three-year due diligence process, during which BFA Asset Management leveraged its deep local market expertise to assess ANDA’s operational model, risk profile, and growth potential.
This thorough approach exemplifies the Kimbo Fund’s disciplined investment thesis: identifying intrinsic value in high-potential ventures while carefully mitigating risks in Angola’s evolving startup ecosystem.
By providing private credit rather than equity, the Kimbo Fund enables ANDA to access growth capital without significant dilution, while complementing the global perspective brought by earlier international investors such as Breega and Speedinvest.
Broader Implications for Angola’s Startup Ecosystem
This investment represents a milestone for Angola’s nascent startup ecosystem. It demonstrates the growing capacity of local institutional capital, through vehicles such as the Kimbo Fund, to support high-potential ventures in strategic sectors.
The funding contributes to the formalisation of the urban mobility sector, the introduction of cleaner transport options, and the creation of more stable earning opportunities for drivers.
In a market where informal transport dominates daily mobility, ANDA’s “drive-to-own” model has the potential to improve service quality, driver incomes, and environmental outcomes while generating sustainable commercial returns.
Looking Ahead
BFA Asset Management’s US$1.2 million investment in ANDA through the Kimbo Fund highlights the strategic role of patient private credit in scaling innovative mobility solutions in Angola.
By supporting fleet modernisation, technology development (including AI), and the integration of electric vehicles, the funding strengthens ANDA’s ability to formalise and professionalise urban transport.
The transaction, following a rigorous three-year due diligence process, underscores growing confidence in Angola’s startup ecosystem and the increasing participation of local institutional investors in high-impact sectors.
This partnership positions ANDA for sustainable expansion while contributing to the broader development of Angola’s transport and logistics industry.
For the most current details on the company’s growth initiatives, refer to official announcements from ANDA or BFA Asset Management.
Anda Overview
Anda Angola / Anda Africa / Anda Mobility refer to Anda, a digital mobility system in Angola that integrates public transport payments through smart cards and mobile solutions.
BFA Asset Management (linked to Banco de Fomento Angola) manages investment funds and financial products in the country.
The Kimbo Fund is one of the local investment funds managed in Angola, focused on providing diversified investment opportunities within the domestic financial market.
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