GAIN is a member owned Angel Investor Network with 17 members that was setup through technical assistance from the International Trade Centre (ITC) through the European Union funded Youth Empowerment Project (YEP) and support from key local and international institutions that include the Gambia Investment and Export Promotion Agency (GIEPA), the Gambia Chamber of Commerce and Industry (GCCI) and the African Business Angel Network (ABAN).
INDIL is a start-up which looks to solve many of the issues customers and businesses face daily with growing requirements for shopping online. With consumer habits shifting there is a greater demand for products and services to be delivered direct to consumers’ doors on time and without hassle. INDIL will not only handle orders, but take care of the delivery aspect too; a full-service offering giving many benefits to both businesses & consumers. Indil aims to build not just an online shopping community and platform but a brand people can trust for quality & consistency. At the core of INDIL lies its technological expertise and unrivalled applications which will be launched to the market before the end of year across IOS and Android.
The Angels who participated in the investment round have significant investment and entrepreneurship experience. They played a key role in structuring the deal to ensure that it provided Indil with the most optimal long-term financing to support its growth, while providing value for investors. The deal terms establish a good operating benchmark that will inform future investments for GAIN and the larger investment community.
The significant jump in the funding envelope for this investment round compared to GAIN’s first investment is a testament to the Network’s growing maturity and the funding envelope that its members can bring to bear. The investment terms and the additional technical support that the Angels will provide Indil, puts the company in strong position to make a strong push in an emerging space in The Gambia and the continent at large. Indil may also benefit from a co-investment scheme that GAIN has in place with YEP geared at supporting “youth owned or youth benefitting” businesses that can potentially unlock an additional US$10,000 in grant funding for the company.
“It was a pleasure dealing with GAIN throughout this whole process. From start to finish, it was important for us to get the right investors onboard that could bring a wealth of knowledge, experience and expertise to give us the greatest chance to thrive as a start-up and go on to achieve success. Through GAIN and with the help of its management team, we were able to find the right Angels to form a collaborative partnership that is going to help us achieve both our short and long-term goals. The future of Indil is looking very exciting and this would not have been possible without GAIN’s existence and ultimately the Angels they have within their network as well as the processes they have established through their organisation.”
George El Hajj – Founder and CEO: Indil Ltd
GAIN continues to work towards creating a unique platform that will spearhead the development of The Gambia’s capital markets through its investment activities, events, capacity building programs and other support programs in the entrepreneurship ecosystem.
The Gambia Angel Investors Network (GAIN) is a “not for profit” entity set up for the purpose of organizing seed funders (“Business Angels”) to invest in Gambian businesses. GAIN is an association of committed members that provide not only early-stage seed funding but also mentoring for start-up entrepreneurs.
GAIN seeks to spearhead the development of an investment community committed to supporting the development of early-stage companies positioned to be future champions of industry in The Gambia.
Dated: November 3rd, 2021
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