Licify, a Colombian company offering construction procurement and related digital financial services, recently secured an investment package totaling USD 3.4 million. The group of investors includes
Tag: Mexico
MICROFINANCE EVENT: Fintech Summit Latam; August 31 – September 1, 2023; Mexico City, Mexico
This event will focus on trends and solutions relating to banks and mobile operators providing digital financial services. This can range from becoming a virtual bank to offering a new service, such as
MICROCAPITAL BRIEF: Beneficial Returns Invests in Grupo Murlota to Expand Training, Incubation Capacity for Women Raising Chickens, Selling Organic Eggs in Rural Mexico
Grupo Murlota, a woman-owned provider of chickens and related supplies, financing and training in Mexico, recently borrowed an undisclosed sum from Beneficial Returns, a US-based lender to social enterprises in Latin America and Southeast Asia. The loan will help fund a new building at which Murlota will
MICROCAPITAL BRIEF: Huruma Fund Expands Impact to Mexico, Lending $15m to Mega, ProCredito for Agricultural SMEs
Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s first investments in Mexico, lending EUR 12 million (USD 12 million) to Mega and EUR 3.6 million (USD 3.6 million) to ProCredito, financial services providers whose clients include many agricultural small and medium-sized enterprises (SMEs). Both investees are active in lending intended to minimize the effects of
MICROCAPITAL BRIEF: Inmobiliaria Ruba Borrowing Up to $75m from IDB Invest to Increase Access to, Affordability of Housing in Mexico
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, recently agreed to lend MXN 1.5 billion (USD 75 million) to Mexico-based housing developer Inmobiliaria Ruba to expand access to low- and middle-income housing in Mexico. Along with the funding, IDB Invest will assist Ruba in: (1) becoming less impactful on the environment; and (2) strengthening its relationships with smaller suppliers by providing them with short-term finance via “reverse factoring.” One third of the funding from IDB Invest is for
MICROCAPITAL BRIEF: C-Quadrat Impact Asset Management (I-AM) Loans $20m from Dual Return Vision Microfinance Funds to MFIs in 8 Countries
Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, recently announced it lent a total of USD 20 million to microfinance institutions (MFIs) in China, Mexico, Mongolia, Nepal, Peru and three other countries through its Dual Return Funds during July 2022. I-AM has
MICROCAPITAL BRIEF: IDB Invest Lends $15m to Cordada to Bolster Lenders to MSMEs in Chile, Mexico, Peru
IDB Invest, the private-investment member of the US-based Inter-American Development Bank (IDB) Group, recently announced a loan of USD 15 million to Cordada, a funder of financial technology (fintech) and other lenders to micro-, small and medium-sized enterprises (MSMEs) in Peru, Mexico and Chile. The deal includes a renewable two-year term as well
MICROCAPITAL BRIEF: FICO, Círculo de Crédito Deploy Updated Credit Scoring System Seeking to Overcome Customers’ Lack of Credit History in Mexico
Círculo de Crédito, a Mexico-based credit bureau, and FICO, a US-based credit scoring company, recently implemented an updated credit scoring system to help lenders, insurers, automobile dealerships and other firms in Mexico to evaluate their customers. The companies estimate that “FICO Score 4” and “FICO Extended Score 4” will allow their clients to reach 8 million
MICROFINANCE EVENT: Fintech Summit Latam; August 24-25, 2022; Mexico City, Mexico
This event will explore how banks and mobile operators in Latin America are adopting digital financial services. The first day will focus on financial technology (fintech) and the telecom industry, addressing The Evolution and Consolidation of the Fintech Ecosystem; Inter-regional and International Expansion; Biometric Identification Systems; Big Data: Fintech & Mobile Operators; Artificial Intelligence and Machine Learning; and IoT (Internet of Things) and B2B (Business-to-business). August 25 will center on fintech and traditional financial services providers, with sessions titled
MICROCAPITAL BRIEF: Aliada Digital Card from NanoPay Offers Financial, Medical, Legal Services to Women in Mexico
Mexico’s NanoPay is targeting its new Aliada Digital Card at women in Mexico. The card, which leverages the network of US-based Mastercard, offers lines of credit as well as a range of free legal and medical services. The medical services include online access to physical and mental health professionals as well as
MICROCAPITAL BRIEF: Catalyst Fund to Incubate 6 “Inclusive” Fintechs Serving Africa, Latin America
Catalyst Fund, an initiative of the US-based firm BFA (Bankable Frontier Associates) Global, recently announced the tenth cohort of financial technology (fintech) companies that it will support in their efforts to serve more “underserved and climate-vulnerable communities in emerging markets.” Four of the companies are based in
MICROCAPITAL BRIEF: AXA, Acumen’s KawiSafi Lead $16m Equity, Debt Investment Round in Sistema.bio, Provider of Biogas Digesters
KawiSafi Ventures, a Kenya-based fund managed by US-based Acumen Capital Partners, and AXA IM Alts, which is controlled by France’s AXA Group, recently led an investment totaling USD 15.6 million in Sistema.bio, a Mexico-based biogas company that is active on four continents. The funding package includes
MICROCAPITAL BRIEF: Te Creemos Subsidiary CAME Launches Techreo App to Expand Digital Financial Services in Mexico
Consejo de Asistencia al Microemprendedor (CAME), a unit of Mexico-based Te Creemos, recently launched an app called Techreo to expand the ways it provides financial services such as savings, loans, insurance and financial education. The institution has raised USD 7 million for the app from angel investors, of which USD 1.5 million is a loan from
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: Deetken Impact Invests in Pro Mujer Mexico – Provider of Education, Healthcare, Microfinance – Through Ilu Women’s Empowerment Fund
Canada-based asset management company Deetken Impact and US-based nonprofit women’s development organization Pro Mujer recently announced they are making an investment in Pro Mujer Mexico from the investment vehicle they co-manage, the Ilu Women’s Empowerment Fund. The parties to the transaction wish
MICROCAPITAL BRIEF: Citi, DFC Announce $15m Local-currency Loan to CAME of Mexico to Boost Financial Inclusion of 40,000 SMEs
Consejo de Asistencia al Microemprendedor (CAME), a Mexican microfinance institution, recently agreed to borrow MXN 300 million (USD 15 million) through a partnership between US-based bank Citi and the government-backed US International Development Finance Corporation (DFC). The proceeds of the term loan are to be
MICROCAPITAL BRIEF: IDB Invest Lends $15m in Local Currency to CAME of Mexico to Promote Financial Inclusion of SMEs, Companies led by Women
Consejo de Asistencia al Microemprendedor (CAME), a Mexican microfinance institution, recently secured a four-year loan of MXN 300 million (USD 15 million) from IDB Invest, a member of the Inter-American Development Bank (IDB) Group. CAME’s services include deposits, loans, payments and insurance for microentrepreneurs as well as small and medium-sized enterprises (SMEs). Its loan products include
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