Tugende, a financial technology (fintech) firm specializing in vehicle finance in Uganda and Kenya, recently raised USD 17 million in debt funding. The firm plans to use USD 12 million of the fresh cash to support growth in
Category: Deals
MICROCAPITAL BRIEF: Bank of Georgia Borrowing $200m from ADB, JICA for MSMEs, Especially Those Owned by Women
The Bank of Georgia (BOG), a UK-based institution active in Georgia, recently obtained a loan of GEL 617 million (USD 200 million) to on-lend micro-, small, and medium-sized enterprises (MSMEs), especially those owned by women. Half of the loan is from the Asian Development Bank (ADB), a development finance institution active in Asia and the Pacific, and the other half is funded by
MICROCAPITAL BRIEF: Fintech Mambu Secures $265m in Equity Funding Round Led by EQT to Expand Core Banking Platform for Microfinance, Other Institutions
Mambu, a German software-as-a-service (SaaS) banking platform founded in 2011, recently raised EUR 235 million (USD 265 million) in Series E funding, valuing the firm at EUR 4.9 billion (USD 5.5 billion). EQT Growth, a Sweden-based private equity investor, led the funding round. EQT Growth is a first-time investor in Mambu and is joined by
MICROCAPITAL BRIEF: Agents for Impact Loans $3m from Invest in Visions to Imon International for Microfinance in Tajikistan
Two German impact investment firms, Agents for Impact (AFI) and Invest in Visions (IIV) recently collaborated to disburse USD 3 million in loan funds to Imon International, a microfinance institution (MFI) in Tajikistan. Imon offers individuals as well as small and medium-sized enterprises loans, savings, internet banking and
MICROCAPITAL BRIEF: Retail Capital Borrowing $10m from Triodos Investment Management for Advances to SMEs in South Africa
Retail Capital, a South African lender to small and medium-sized enterprises (SMEs), recently raised ZAR 150 million (USD 10 million) in debt capital from Triodos Investment Management, a Dutch impact investor. Retail Capital issues collateral-free loans to retailers, in amounts based on their monthly cash flow. Since it was established in 2011, Retail Capital has served
MEDIA OF THE MONTH: 170k Women in Mexico, Peru Leveraging $70m in Microfinance via Banco Compartamos, Citi, DFC, JICA
This 4-minute video describes a partnership among the Mexican microfinance institution Banco Compartamos, Citi, the Japan International Cooperation Agency and the US International Development Corporation to fund 170,000 female entrepreneurs in Mexico and Peru.
This post is part of an occasional series from MicroCapital pointing you to great media on microfinance and other forms of impact investing. Enjoy!
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
MICROCAPITAL BRIEF: Oikocredit Lends $5.6m to Union des Caisses de Credit Mutuel du Sénégal (CMS) to Promote Rural Financial Inclusion
Union des Caisses de Credit Mutuel du Sénégal (CMS), a microfinance institution (MFI) in Senegal, recently borrowed EUR 5 million (USD 5.6 million) from Oikocredit, a cooperative based in the Netherlands. With this funding, CMS aims to
MICROCAPITAL BRIEF: DAI Buys Microfinance Investor MicroVest
Two US-based firms involved in international development announced yesterday that they have agreed to become one organization. Employee-owned DAI is paying an undisclosed sum to acquire MicroVest Capital Management, which was founded in 2003 and specializes in channeling loans to funders of micro-, small and medium-sized enterprises in low- and middle-income countries. MicroVest manages a portfolio valued at
MICROCAPITAL BRIEF: Northern Arc Capital to Provide Research, Modeling, Reporting Services to Nasira, FMO Program that Guarantees MSME Lending to Youth, Women, Migrants
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently finalized an agreement with Northern Arc Capital, an Indian financial firm, to support Nasira, a risk-sharing program through which FMO encourages retail financial institutions to lend to entrepreneurs in Africa and parts of Asia. In particular, Nasira guarantees lending to micro-, small and medium-sized enterprises whose owners fall into one or more of the following
MICROCAPITAL BRIEF: Co-operative Bank of Kenya, European Investment Bank Announce $56m Investment for SMEs Impacted by COVID-19 Pandemic
The EU’s European Investment Bank (EIB) and the Co-operative Bank of Kenya, a publicly traded commercial and investment bank, recently partnered to channel EUR 50 million (USD 56 million) to Kenyan “companies active in sectors most challenged by the COVID-19 pandemic.” In particular, the line of credit from EIB will enable firms with up to 250 employees to access
MICROCAPITAL BRIEF: Bridge Taxi Finance of South Africa Borrows $20m to Boost Leasing Services
Bridge Taxi Finance, which is based in South Africa, recently borrowed ZAR 300 million (USD 20 million) from a group of unidentified “international impact investors” to expand its leasing of minibus taxis with vehicles that are safer and less polluting. In addition to leasing vehicles, the firm provides
MICROCAPITAL BRIEF: ACBA, Symbiotics Partnering on $6.7m Bond Issue for MSMEs, Green Lending in Armenia
The Agricultural Cooperative Bank of Armenia (ACBA), a commercial and investment bank, and Symbiotics, a Switzerland-based impact investing firm, recently partnered to raise USD 6.75 million for onlending in Armenia. Symbiotics will list a sustainability bond on the
SPECIAL REPORT: Sidian Bank Lends $4.5m for Water, Sanitation, Hygiene (WASH) to MSMEs in Kenya with Support from Aqua for All
During today’s case study presentation on Water, Sanitation and Hygiene (WASH), Loise Mwangi of Kenya’s Sidian Bank shared her institution’s success in providing pandemic-relief loans for WASH equipment. Sidian lent about half of the funds, which total the equivalent of USD 4.7 million, to small and medium-sized WASH re-sellers, and the other half to
MICROCAPITAL BRIEF: MFS Africa Acquiring Baxi to Expand Digital Payment Network for SMEs into Nigeria
Mobile Financial Solutions (MFS) Africa, a digital payments network based in South Africa, recently announced it will acquire Baxi, a platform facilitating online payments for small and medium-sized enterprises (SMEs) in underserved communities in Nigeria. Verdant Capital, a corporate finance firm that specializes in mergers and acquisitions,
MICROCAPITAL BRIEF: HDFC Bank to Lend $100m to Micro-, Small, Medium-sized Enterprises (MSMEs) in India – Half Led by Women – with Support from DFC, Mastercard, USAID
HDFC Bank, an affiliate of India’s Housing Development Finance Corporation, recently agreed to lend USD 100 million to micro-, small and medium-sized enterprises (MSMEs) in India to support their usage of digital payments, including to adjust to the COVID-19 pandemic. Half of the credit facility is
MICROCAPITAL BRIEF: Deetken Impact Acquires 40% Equity Stake in Asset Manager Adobe Capital, Seeking to Boost Social, Environmental Returns in Latin America
Deetken Impact, a Canada-based asset manager, recently paid an undisclosed sum to acquire 40 percent of the shares of Adobe Capital, a Mexico-based manager of investments intended to create positive social and environmental impact. The goal of the partnership is to increase the availability of
MICROCAPITAL BRIEF: Agents for Impact Disburses $1.5m from IIV to FINCA Bank Kyrgyzstan for Microfinance
Agents for Impact (AFI), a Germany-based impact investing company, recently informed MicroCapital that it has issued USD 1.5 million to FINCA Bank Kyrgyzstan, a unit of US-based FINCA Impact Finance, on behalf of Germany-based Invest in Visions (IIV). FINCA Kyrgyzstan serves 155,000 customers – half women – with
MICROCAPITAL BRIEF: Oikocredit, Opportunity International Commit $100m to Education Finance in Low-income Countries
Opportunity International, a US-based nonprofit providing microfinance and other services in 30 countries, and Oikocredit, a Netherlands-based impact investor, recently announced a three-year partnership valued at USD 100 million. Through increased funding of financial institutions partnered with Opportunity International’s EduFinance program, Opportunity International and Oikocredit aim to