# Incofin Investment Management

> Incofin Investment Management is a VC fund backing Financial Services. See 39 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Antwerp, Belgium
- Total investments: 39
- Last investment: Nov 2025
- Lead investor: 46%
- Fund size: $42M
- Last fund: Mar 2023
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/incofin-investment-management
- Website: http://incofin.com
- Facebook: http://www.facebook.com/pages/Incofin-cvso/193747530747802

Incofin Investment Management is a VC fund in Antwerp focused on Financial Services and Finance. Incofin Investment Management (Incofin IM) manages funds that invest in microfinance institutions (MFIs) in developing countries. MFIs provide financial services, such as credits, savings and insurances, to people who cannot have recourse to regular banks. As a specialist in rural microfinancing, Incofin IM’s main goal is to reach out to people wholive in more secluded rural areas and/or who are active in the agricultural sector.

## Contacts

5 contacts available for Incofin Investment Management. Shizune tracks 5 team members at Incofin Investment Management. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/incofin-investment-management?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $4M–$8.1M |
| Series B | $3.5M–$46M |
| Debt Financing | $3M–$10M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 16 | 41% |
| Finance | 9 | 23% |
| Banking | 6 | 15% |
| FinTech | 6 | 15% |
| Agriculture | 4 | 10% |

38 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 10 | 26% |
| Series B | 9 | 23% |
| Debt Financing | 5 | 13% |
| Venture - Series Unknown | 4 | 10% |
| Private Equity | 3 | 8% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 20 | 51% |
| Kenya | 1 | 3% |
| Rwanda | 1 | 3% |
| Uganda | 1 | 3% |
| Myanmar | 1 | 3% |

8 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Aditya Bhandari | Partner & Co Regional Director - Asia | 8 | https://shizune.co/investors/profile/aditya-bhandari-874c |
| Bharat Banka | Independent IC Member | 2 | https://shizune.co/investors/profile/bharat-banka |
| Loïc De Cannière | Managing Partner and Founder | 0 | https://shizune.co/investors/profile/lo%C3%AFc-de-canni%C3%A8re |
| Michaël Blockx | Director Private Equity Operations | 3 | https://shizune.co/investors/profile/micha%C3%ABl-blockx |
| Salome Ndunda | Investment Manager | 0 | https://shizune.co/investors/profile/salome-ndunda |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Ace International | ACE International manufactures and distributes dairy powders, milk proteins, and other food grade components. | $34.1M | Private Equity | Nov 27, 2025 |  |
| SuperZop | SuperZop is an Agri-commerce platform for Kirana stores that is transforming the unorganized retail sector with the use of disruptive technologies and process innovations. The platform also specializes in distribution, retail, technology, supply chain, B2B. It also has the goods delivered at his shop in quick time and easy to use vernacularinterface the retailer can order all his grocery demands with a click of a button.SuperZop was founded in 2016 and is headquartered in Ahmedabad, Gujarat, India. | $12.6M | Series B | Jul 07, 2025 |  |
| Ficohsa | Ficohsa is a bank that provides financial products and services. They specialize in personal banking, corporate banking, entrepreneurial banking, mortgage banking, credit cards, and more. | $10M | Debt Financing | Mar 07, 2025 |  |
| Sahyadri Farms | Sahyadri Farms is a farmer producer and agricultural company. | $45.9M | Series B | Dec 20, 2024 |  |
| Couvoir Amar | Couvoir Amar focuses on growing local chicken production to make it more affordable for lower-income populations while also addressing Senegal's food security and nutritional needs. |  | Debt Financing | Dec 13, 2024 |  |
| Truk Rwanda | Truk Rwanda provides cold storage and transportation solutions for fresh fruits and vegetables, allowing farmers in central Rwanda to extend the shelf life of their produce. |  | Debt Financing | Dec 11, 2024 |  |
| Spouts of Water | Spouts of Water is manufacturing water purification filters for households to ensure that they have constant access to clean drinking water. | $3.2M | Private Equity | Nov 14, 2024 |  |
| Spouts of Water | Spouts of Water is manufacturing water purification filters for households to ensure that they have constant access to clean drinking water. | $3.2M |  | Nov 14, 2024 |  |
| Arthan Finance | Arthan Finance is an endeavours to transform small businesses with an objective to provide growth capital to self-employed micro and small enterprises in India with innovative products and services blended with local expertise while ensuring seamless and personalised delivery in a highly technology enabled environment. | $6M | Series B | Jun 10, 2024 |  |
| Saggraha Management Services | SaGgraha Management Services is a Bottom of the Pyramid financial services provider with a mission to contribute to the country's financial inclusion effort. The company is promoted by a team of professionals with banking, microfinance and financial services experience. The company believes at maintaining highest ethical and professionalstandards, governance and transparency. | $10M | Venture - Series Unknown | May 22, 2024 |  |

10 of 39 investments shown.

## Co-investors
- [Oikocredit International](https://shizune.co/investors/profile/oikocredit-international) — VC Fund, 5 deals together
- [FMO](https://shizune.co/investors/profile/fmo) — VC Fund, 3 deals together
- [Orios Venture Partners](https://shizune.co/investors/profile/orios-venture-partners) — VC Fund, 3 deals together
- [responsAbility Investments AG](https://shizune.co/investors/profile/responsability-2) — VC Fund, 3 deals together
- [British International Investment](https://shizune.co/investors/profile/british-international-investment) — VC Fund, 2 deals together
- [British International Investment](https://shizune.co/investors/profile/cdc-group) — VC Fund, 2 deals together

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## FAQ

### What does Incofin Investment Management invest in?

Incofin Investment Management invests primarily in Financial Services, Finance and Banking startups, most often at Series A and Series B stage. Most of the 39 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Incofin Investment Management's check size?

Incofin Investment Management typically joins rounds of $4M–$8.1M at Series A, $3.5M–$46M at Series B and $3M–$10M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Incofin Investment Management participates in.

### How do I contact Incofin Investment Management?

Public channels for Incofin Investment Management include LinkedIn, the website linked on this profile and Facebook. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Incofin Investment Management?

The team at Incofin Investment Management includes Aditya Bhandari (Partner & Co Regional Director - Asia), Bharat Banka (Independent IC Member) and Loïc De Cannière (Managing Partner and Founder). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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