Uruguay’s Bankingly recently secured an investment package totalling USD 11 million, which it plans to use to expand in Latin America and Africa as well as enter Southeast Asia. Bankingly provides financial institutions with software-as-a-service (SaaS) that helps them serve customers via websites, mobile apps, chatbots and other tools, thus “facilitating the financial inclusion of millions of people…”. Bankingly CEO and Founder, Martin Naor, expressed the hope that
Tag: investment
MICROCAPITAL BRIEF: BlueOrchard Executes IIF Equity Buy into Forte Insurance to Boost Agricultural Microinsurance in Cambodia
Switzerland’s BlueOrchard Finance recently disbursed an equity placement of undisclosed size from the InsuResilience Investment Fund (IIF), a Luxembourg-domiciled public-private partnership, for IIF to buy a minority stake in Cambodia’s Forte Insurance Group. BlueOrchard’s investment director for the continent, Thibaud Ponchon, expressed confidence that the placement will “drive the penetration of
MICROCAPITAL BRIEF: Aavishkaar India Fund VI Nets $130m for MSMEs Addressing Climate Change, Agtech, Fintech – Anchored by Public Funding from Domestic, European Sources
Aavishkaar Capital, a subsidiary of India’s Aavishkaar Group, recently completed the first close of its Aavishkaar India Fund VI with commitments totaling INR 10 billion (USD 130 million) to invest mainly in micro-, small and medium-sized enterprises (MSMEs). In particular, Sushma Kaushik, a partner at Aavishkaar Capital, said that the fund aims to
MICROCAPITAL BRIEF: Kinara Capital Raises $50m in Equity from Nuveen, ASN Microkredietfonds to Boost Lending to MSMEs in India
India’s Kinara Capital recently raised INR 3.8 billion (USD 50 million) in equity from the Global Impact Fund of US-based Nuveen, which led the investment round, and ASN Microkredietfonds, which is advised by the Netherlands’ Triple Jump, to boost Kinara’s lending to micro-, small and medium-sized enterprises (MSMEs) in India. According to Kinara Founder and CEO Hardika Shah
MICROCAPITAL BRIEF: Impact Asset Management Loans $11m from Dual Return Microfinance Funds to MFIs in East Timor, Ecuador, Kosovo, Nicaragua
Impact Asset Management (I-AM), a member of the Austria-based C-Quadrat Investment Group, recently disbursed loans from Vision Microfinance and Vision Microfinance Local Currency, the two sub-funds of the Dual Return Fund family, that total the equivalent of
MICROCAPITAL BRIEF: SIG Venture Capital Leads $210m Investment in Fintech Voyager of the Philippines
Voyager Innovations, a Philippine provider of digital financial services tools such as Fintq, PayMaya and Smart Padala, recently secured an investment package totaling USD 210 million. The fresh capital is slated for developing the company’s “digital banking venture and other services like cryptocurrency and micro-investments.” Voyager was established in
MICROCAPITAL BRIEF: Bix, FMO Lending $10m to C-Quest Capital to Expand Usage of Clean Cookstoves in Sub-Saharan Africa
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, is lending USD 6.4 million to C-Quest Capital, a US-based investor in projects that reduce the environmental impacts of energy production and usage in low- and middle-income countries. At the same time, Bix Capital, a Dutch provider of debt financing to small and medium-sized enterprises (SMEs) to boost
MICROCAPITAL BRIEF: Avla Raising $20m in Equity Round to Be Led by US-based Creation Investments to Expand B2B Insurance Offerings in Chile, Mexico, Peru
US-based Creation Investments Capital Management recently announced it is leading an equity investment of USD 20 million in Avla, a Chile-based business-to-business provider of insurance, surety bonds and collections services in Chile, Mexico and Peru. The firm’s insurance products include coverage for
MICROCAPITAL BRIEF: IFC Invests $24m in Evolving Europe Principal Investments Fund (EEPIF) to Boost SME Finance
The International Finance Corporation (IFC), a member of the World Bank Group, recently invested EUR 20 million (USD 24.2 million) in the Evolving Europe Principal Investments Fund (EEPIF), which is managed by UK-based private equity firm Integral Venture Partners, with the goal of improving the financial inclusion of small and medium-sized enterprises (SMEs) in 14 countries. Among the countries to receive investment are
MICROCAPITAL BRIEF: Nordic Microfinance Initiative Raises $5m from Lauritzen Fonden to Invest in Women in Africa, Asia
Denmark-based Lauritzen Fonden recently invested USD 5 million in “Fund IV” of the Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that invests in microfinance institutions and agricultural initiatives in developing countries. The new investment is specific to microfinance, mainly for women in Africa and Asia.
Lauritzen describes itself as a “commercial foundation.” It earns income from shipping concerns and investments in real estate, technology, software and equipment and then disburses approximately DKK 40 million (USD 6 million) per year to support youth and
MICROCAPITAL BRIEF: Invest In Visions’ IIV Mikrofinanzfonds Lends $3m to Armeconom Bank to Support Microfinance in Armenia
Germany-based Invest in Visions (IIV) recently announced that it has loaned USD 3 million to Armeconom Bank of Armenia from IIV Mikrofinanzfonds, a microfinance investment vehicle that lends to financial institutions in developing countries. Launched in 1991, Armeconom offers loans, credit lines, deposit services, payment cards, transfers and other services to individuals and businesses. It accepts deposits in four currencies, with rates ranging from 0.2 percent to 10 percent per year. Its lending products include
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $100m to Equity Bank to Support SMEs, Renewable Energy in Kenya
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned KES 10 billion (USD 100 million) to the Kenyan member of the Equity Bank Group, a provider of microfinance and conventional financial services in six countries, to: (1) increase its lending to small and medium-sized enterprises (MSMEs); (2) enhance its regulatory capital; and (3) finance renewable energy projects. IFC also will provide Equity Bank Kenya with advisory support related to the subordinated loan, the cost of which has not been revealed. The IFC-funded loans will range in size from KES 1 million (USD 10,000) to KES 200 million (USD 2 million) to benefit firms that fit at least one of the following criteria:
MICROCAPITAL BRIEF: Green for Growth Fund (GGF) Loans $1.1m to Microcredit Foundation Lider to Reduce Energy Costs, Carbon Emissions in Bosnia and Herzegovina
The Green for Growth Fund (GGF), a Luxembourg-based public-private partnership, recently loaned EUR 1 million (USD 1.14 million) to Lider, a microcredit foundation based in Sarajevo, to reduce emissions of carbon dioxide in rural regions of Bosnia and Herzegovina. Lider will on-lend the funds to households and small-scale farmers to
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $5m to Al Majmoua for Enterprise, Housing Microfinance in Lebanon
Sanad Fund for MSME, a Luxembourg-based investor in lenders to micro-, small and medium enterprises (MSMEs), recently loaned USD 5 million to Al Majmoua, a provider of financial and business development services to underserved groups in Lebanon. The funds are to be on-lent to low-income individuals for housing improvements and to very small enterprises for business needs.
MICROFINANCE EVENT: Impact Investing Summit; December 6 – 7, 2018; London, United Kingdom
This Impact Investing Summit aims to create dialogue among current and potential impact investors regarding the future of international impact investing. The term refers to
MICROCAPITAL BRIEF: CreditAccess Grameen IPO Raises $164m on Bombay Stock Exchange, National Stock Exchange of India
CreditAccess Grameen Limited, the Indian subsidiary of CreditAccess Asia, recently held its initial public offering (IPO) on India’s Bombay Stock Exchange and the National Stock Exchange of India. CreditAccess Grameen raised
MICROCAPITAL BRIEF: IFC Issues $2b in Bonds for Climate-focused, Infrastructure, Women-entrepreneurship Projects in Developing Countries
The World Bank Group’s International Finance Corporation (IFC) recently raised USD 2 billion via a bond issue to finance projects in developing countries that are focused on mitigating climate change, developing infrastructure, increasing opportunities for women entrepreneurs, and expanding financial resources
MICROCAPITAL BRIEF: Invest in Visions’ IIV Mikrofinanzfonds Lends $4.7m to Microfinance Institution ASA Pakistan
Germany-based Invest in Visions (IIV) recently announced that it loaned USD 4.7 million in July to ASA Pakistan, a microfinance institution (MFI) in Pakistan. IIV disbursed the loan from its microfinance investment vehicle, IIV Mikrofinanzfonds, which lends to MFIs in developing countries.