---
title: "German Investment Corporation"
description: "German Investment Corporation, also referred to as DEG, is a German development finance institution and impact investor that finances and advises private sector enterprises in developing and emerging market countries. It is a subsidiary of KfW and is based in Germany, where it has operated for more than 60 years providing long term capital and support to businesses with sustainable development impact. Based on available transaction data, German Investment Corporation is an active equity investor in African growth companies. Between November 2019 and February 2026 it participated in 17 funding rounds totaling approximately 117.2 million US dollars, primarily at Series A, Series B and other equity stages. Its portfolio in Africa spans fintech, insurtech, legal and compliance technology, travel and mobility, health tech, agri tech, marketing and CRM, and e commerce and retail, with a geographic focus on Kenya, South Africa, Tanzania, Zambia, Mauritius and Nigeria. In Africa, German Investment Corporation often invests alongside other impact and development finance institutions and specialist funds. Co investors in its African rounds have included International Finance Corporation, Alitheia IDF, Inoks Capital, Yellowwoods, Hollard Insurance, BlueOrchard Finance, Triodos Investment Management, Lightrock, Quona Capital, Women’s World Banking, AAIC Investment and VestedWorld, reflecting a collaborative approach to scaling high impact businesses across the continent."
canonical_url: "https://liners.com/investors/german-investment-corporation"
markdown_url: "https://liners.com/investors/german-investment-corporation.md"
type: "investor"
language: "en"
image: "https://assets.liners.com/storage/v1/object/public/media/investors/german-investment-corporation/favicon.png?v=1785330042593"
updated_at: "2026-09-01T03:04:13.243Z"
---

# German Investment Corporation

German Investment Corporation, also referred to as DEG, is a German development finance institution and impact investor that finances and advises private sector enterprises in developing and emerging market countries. It is a subsidiary of KfW and is based in Germany, where it has operated for more than 60 years providing long term capital and support to businesses with sustainable development impact. Based on available transaction data, German Investment Corporation is an active equity investor in African growth companies. Between November 2019 and February 2026 it participated in 17 funding rounds totaling approximately 117.2 million US dollars, primarily at Series A, Series B and other equity stages. Its portfolio in Africa spans fintech, insurtech, legal and compliance technology, travel and mobility, health tech, agri tech, marketing and CRM, and e commerce and retail, with a geographic focus on Kenya, South Africa, Tanzania, Zambia, Mauritius and Nigeria. In Africa, German Investment Corporation often invests alongside other impact and development finance institutions and specialist funds. Co investors in its African rounds have included International Finance Corporation, Alitheia IDF, Inoks Capital, Yellowwoods, Hollard Insurance, BlueOrchard Finance, Triodos Investment Management, Lightrock, Quona Capital, Women’s World Banking, AAIC Investment and VestedWorld, reflecting a collaborative approach to scaling high impact businesses across the continent.

## Breadcrumbs

- [Investors](/investors)
- [German Investment Corporation](/investors/german-investment-corporation)

## Summary

German Investment Corporation, also referred to as DEG, is a German development finance institution and impact investor that finances and advises private sector enterprises in developing and emerging market countries. It is a subsidiary of KfW and is based in Germany, where it has operated for more than 60 years providing long term capital and support to businesses with sustainable development impact. Based on available transaction data, German Investment Corporation is an active equity investor in African growth companies. Between November 2019 and February 2026 it participated in 17 funding rounds totaling approximately 117.2 million US dollars, primarily at Series A, Series B and other equity stages. Its portfolio in Africa spans fintech, insurtech, legal and compliance technology, travel and mobility, health tech, agri tech, marketing and CRM, and e commerce and retail, with a geographic focus on Kenya, South Africa, Tanzania, Zambia, Mauritius and Nigeria. In Africa, German Investment Corporation often invests alongside other impact and development finance institutions and specialist funds. Co investors in its African rounds have included International Finance Corporation, Alitheia IDF, Inoks Capital, Yellowwoods, Hollard Insurance, BlueOrchard Finance, Triodos Investment Management, Lightrock, Quona Capital, Women’s World Banking, AAIC Investment and VestedWorld, reflecting a collaborative approach to scaling high impact businesses across the continent.

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## Recorded investments

| Product | URL | Stage | Amount | Date |
| --- | --- | --- | --- | --- |
| Lupiya | /lupiya | Series A | 11300000 | 2026-02-01T00:00:00.000Z |
| Naked Insurance | /naked-insurance | Series B | 38000000 | 2025-01-01T00:00:00.000Z |
| Simplify VFD | /simplify-vfd | Other | 110000 | 2024-09-01T00:00:00.000Z |
| eProd | /eprod | Other | 100000 | 2024-05-01T00:00:00.000Z |
| yes:id | /yes-id | Other | 100000 | 2024-05-01T00:00:00.000Z |

## Related pages

- [All investors](/investors)
- [Funding rounds](/funding)

## Access and citation

- [Canonical HTML page](https://liners.com/investors/german-investment-corporation)
- [Markdown route index](/sitemap.md)
- [Agent access guide](/llms.txt)