MICROCAPITAL BRIEF: SEAF Invests Equity in CloudCfo, Provider of Business Services to SMEs in the Philippines, via Women’s Opportunity Fund

The Small Enterprise Assistance Fund (SEAF), a US-based “impact investing” fund manager, recently announced its disbursement of an undisclosed amount of capital to Philippines-based startup CloudCfo. The firm will use the proceeds to boost its growth across its online accounting, bookkeeping and financial-reporting business areas as well as to invest in technology and in-house expertise. Manila-based CloudCfo was founded in 2016 and offers a variety of cloud services to small and medium-sized enterprises in the Philippines.

Jennifer Buckley, the Managing Director of SEAF, noted, “We are impressed by the strong expansion of [CloudCfo’s] customer base, particularly among women entrepreneurs, while exhibiting solid retention metrics.”

SEAF issued the investment from the Women’s Opportunity Fund, which is backed by the Australian government. Founded in 2017, the fund invests up to USD 2 million per transaction. Its focus is firms led by women in Indonesia, the Philippines and Vietnam.

SEAF focuses on “providing small and medium-sized enterprises in emerging markets with the capital, knowledge, and resources necessary to grow their business and impact their local communities.” SEAF has experience managing 38 funds and employs approximately 100 professionals in 33 countries.

By the MicroCapital Team

Sources and Additional Resources

SEAF press release
https://www.seaf.com/seaf-invests-in-cloudcfo-a-technology-driven-accounting-and-finance-service-provider-for-startups-and-smes-in-the-philippines/

CloudCfo home page
https://cloudcfo.ph/

SEAF homepage
https://www.seaf.com/

SEAF Women’s Opportunity Fund home page
https://www.seaf.com/investing/asia/seaf-womens-opportunity-fund/

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