The Grassroots Business Fund (GBF), a global impact investing organization, announced today that it has provided NOVICA with investment capital and business advisory services to expand its global network of artisans to new countries. Recently, GBF approved a capital infusion of $1.5 million to strengthen its regional supply chain, which is key to the company’s long term growth plan.
GBF’s investment in NOVICA’s international infrastructure will allow their offices to improve the company’s operational efficiency by lowering costs and ensuring speedier and more reliable product delivery, while offering improved product quality and the ability to scale up operations.
“This investment is going to play a key role in our ability to reach and impact more artisans, and help to bring more of their products to the global market,” said Roberto Milk, CEO and co-founder of NOVICA.
“GBF has become a leader in its approach of blending investment capital with technical assistance in geographies where it is needed most,” said Iqbal Paroo, Chairman of GBF.
The Grassroots Business Fund is a non-profit investor that builds and supports high-impact enterprises that provide sustainable economic opportunities to thousands of people at the base of the economic pyramid. GBF provides investment capital and capacity building to high impact social enterprises in several developing countries across the globe.