How Much Did Family Bank Raise? Funding & Key Investors

Date
March 31, 2025
Family Bank

Total amount raised

$49.3 Millions

Latest funding date

Family Bank

Location

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Family Bank has successfully raised significant capital through various funding rounds, including a notable KES 805,000,000 debt financing from eco.business Fund. The bank's strategic financial maneuvers have attracted a diverse group of investors, including the African Development Bank.

Keep reading to delve into the details of Family Bank's funding journey and the key investors supporting its growth.

What Is Family Bank?

Family Bank, founded in 1984 by Titus K. Muya, is a commercial bank headquartered in Nairobi, Kenya. The bank is regulated by the Central Bank of Kenya and is a member of the Deposit Protection Fund.

Family Bank offers a wide range of banking services, including personal and business accounts, loans, mortgages, and digital banking solutions. It serves over 1.7 million customers through a network of 93 branches across Kenya.

With a workforce of between 1001 and 5000 employees, Family Bank continues to innovate, being the first in Kenya to introduce paperless banking through smart card technology.

How Much Funding Has Family Bank Raised?

  1. Debt Financing
    • Amount Raised: $14.3M
    • Date: October 2010
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support the bank's growth and expansion plans.
  2. Debt Financing
    • Amount Raised: $30M
    • Date: March 2023
    • Lead Investors: African Development Bank
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To enhance financial stability and expand service offerings.
  3. Debt Financing
    • Amount Raised: $5M
    • Date: February 2024
    • Lead Investors: eco.business Fund
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To support sustainability-certified companies and small-holder farmers.

Total Amount Raised: $49.3M. Current Valuation: Not publicly disclosed.

Key Investors

  • eco.business Fund
    • Details: eco.business Fund is a specialized investment fund that supports sustainable businesses in developing countries. It aims to promote biodiversity conservation and sustainable resource use.
    • Investment Focus Areas: Sustainability-certified companies, small-holder farmers, agribusiness value chain actors.
    • Notable Investments: Family Bank, Banco Promerica, Banco de Fomento Agropecuario.
  • African Development Bank
    • Details: The African Development Bank (AfDB) is a regional multilateral development bank established to contribute to the economic development and social progress of African countries. It provides financial and technical assistance to projects that promote economic and social development.
    • Investment Focus Areas: Infrastructure, agriculture, education, health, private sector development.
    • Notable Investments: Family Bank, Dangote Group, Ethiopian Airlines.
  • Private Equity Investors
    • Details: The private equity round in October 2010 involved multiple investors whose identities are not publicly disclosed. These investors typically focus on high-growth potential companies.
    • Investment Focus Areas: Not publicly disclosed.
    • Notable Investments: Not publicly disclosed.

What's Next for Family Bank?

Family Bank's recent Kshs 805 million loan from the eco.business Fund opens up significant opportunities to support sustainability-certified companies and small-holder farmers. This partnership aims to enhance the competitiveness of agribusinesses through eco-friendly and climate-smart approaches, aligning with the growing emphasis on sustainable agricultural practices in Kenya.

Looking ahead, Family Bank is well-positioned to scale up its lending to agribusinesses, potentially attracting further investments to bolster its financial stability. However, the bank may face challenges in ensuring loan repayment from smallholder farmers and implementing climate-smart technologies, which require substantial resources and effort.

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