South Africa’s UsPlus secures $2M to expand SME financing

The fintech firm raises funds from Verdant Capital to scale its invoice factoring services and support key industries.

Johannesburg, South Africa. Portal ERP South Africa.

South African fintech UsPlus has secured a $2 million investment from the Verdant Capital Hybrid Fund to expand its working capital solutions for small and medium-sized enterprises (SMEs). The funding, structured as junior convertible debentures, will help UsPlus scale its invoice factoring services across key sectors.

Founded in 2015, UsPlus focuses on bridging the financing gap for SMEs in industries like manufacturing, logistics, agriculture, and renewable energy. By offering solutions such as invoice factoring and purchase order financing, the company enables businesses to unlock capital and maintain cash flow, particularly in the face of delayed payments. It also prioritizes support for women-led and sustainability-focused enterprises.

“This investment aligns with our mission to promote financial inclusion and economic growth in Africa,” said a representative from Verdant Capital.

The Verdant Capital Hybrid Fund, which targets $100 million in investments, backs inclusive financial institutions serving MSMEs across Africa. With this latest funding, the fund has now deployed $38 million.

UsPlus plans to use the capital to strengthen its balance sheet and attract further senior debt funding. By expanding access to flexible working capital, the company aims to boost SME competitiveness and economic participation in South Africa’s evolving business landscape.