€5M for growth: SECO Fund targets underserved post-revenue businesses

Today marks the relaunch of Switzerland’s SECO Startup Fund (SSF) with €5 million in funding and a revised investment thesis to better support entrepreneurs addressing challenges in Swiss development partner countries across Africa, Asia, Latin America, and Eastern Europe.

Originally launched in 1997, backed by the State Secretariat for Economic Affairs (SECO) and managed by iGravity and Seedstars, the SSF relaunch focuses on supporting high-impact businesses that traditional debt and equity providers often overlook. 

The relaunched vehicle targets a specific sweet spot: early-stage and/or growing innovative companies with proven business models that lack access to traditional growth financing. Unlike equity investors seeking exits, the SSF provides patient debt capital with 2-5-year terms and tailored repayment structures that align with cash flow realities in emerging markets.

While sector-agnostic, priority themes include decent work, access to critical goods and services and climate-smart capacities. Eligible companies must demonstrate concrete connections to Switzerland, ensuring alignment with the country’s dual goal of international development and economic collaboration.

While early-stage funding has often captured headlines, post-revenue businesses, the backbone of local economies, face an acute financing gap. SSF addresses this need with flexible senior secured loans ranging from €310,200 to €1,034,00, designed for innovative businesses ready to scale.

With over €47 million disbursed since inception, the SSF has backed more than 120 companies across emerging markets.

“SECO is proud to relaunch the SECO Startup Fund at a time when innovative businesses in our partner countries need it most,” said Christian Brändli, Head of Private Sector Development at SECO. 

“We believe in the power of catalytic capital to drive inclusive growth, and this vehicle helps Swiss partnerships play a meaningful role in that story.”

“This isn’t just about capital,” said Patrick Elmer, CEO of iGravity. 

“It’s about creating economic opportunity by helping businesses grow their operations and generate local employment through tailored financing mechanisms aligned with Switzerland’s global cooperation priorities.”

The SECO Startup Fund calls on entrepreneurs, ecosystem builders, embassies, and investors to join in supporting sustainable growth across developing economies.

Lead image: SECO startup fund.