Tagaddod B.V.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Tagaddod B.V. is an Egyptian start-up that collects and filters used cooking oil from restaurants, households, and factories through a fully digitized process and supplies it to global sustainable fuel producers.
What is our funding objective?
An equity investment is contemplated that will support the Company’s operational expenses during its expansion across Egypt and the MENA region.
Why do we fund this investment?
The investment will enable the Company to further expand their digitized sourcing process for Used Cooking Oil and other Waste Oils. Ultimately, this will support reducing and recycling waste products for a more sustainable fuel production (potentially applicable to the FMO Green label), whilst providing additional revenue for restaurants, households and aggregators (potentially applicable to the Reducing Inequalities label).
What is the Environmental and Social categorization rationale?
This is a Category B project on Environmental and Social Sustainability due to limited environmental and social (E&S) risks and impacts associated with the activities concerning the collection, filtering and handling of Used Cooking Oil. The E&S risks are envisaged to be sufficiently mitigatable / avoidable by adherence to recognized E&S performance standards.
- Website customer/investment
- https://www.tagaddod.com/
- Region
- Africa
- Country
- Egypt
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 6/10/2024
- Effective date
- 7/22/2024
- Total FMO financing
- USD 1.30 MLN
- Funding
- Venture Capital 002
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B