MICROCAPITAL BRIEF: Goodwell Investments Acquires Minority Stake in Microfinance Software Firm Musoni

Goodwell Investments, a for-profit social investment company based in the Netherlands, has invested an undisclosed sum to acquire a “significant minority stake” in Musoni Services, a Dutch microfinance software company with operations in Myanmar and nine African countries [1]. With this investment, Musoni Services aims to expand its services into West Africa, starting with Ghana and Nigeria [1].

Els Boerhof, a partner at Goodwell Investments, said, “Our mission is to provide more people access to affordable and better quality basic goods and services, including financial services. Unfortunately most MFI’s can hardly afford, maintain or develop their IT [information technology] systems. Musoni uses technology that supports MFI’s in reducing their costs while expanding their outreach” [1]. Musoni Services CEO Cameron Goldie-Scot said “The funds and relationships from Goodwell will be used to drive expansion into new markets and continue the company’s rapid expansion” [1].

As of year-end 2015, Goodwell Investments supports 20 companies in India and Africa, and reports EUR 70 million (USD 76 million) in capital committed to microfinance. As of February 2016, 42 MFIs, savings and credit co-operatives (SACCOs), and asset-financiers were using the Musoni system.

By Meredith Steih, Research Associate

About Goodwell Investments BV

Based in the Netherlands, Goodwell Investments is a for-profit social investment company focused on access to finance and “sustainable” development. It invests in organizations that it deems both socially and commercially sustainable. Goodwell Investments has built and manages joint venture microfinance equity investment companies in partnership with local teams. Goodwell Investments is the lead investor in Aavishkaar Goodwell, a business development company in India. Goodwell Investments is also an investor in Goodwell West Africa, a business development company in Africa. At year-end 2015, Goodwell Investments supports 20 companies in India and Africa and reports EUR 70 million (USD 76 million) in capital committed to microfinance.

About Musoni Services

Established in 2009, Musoni Services is a microfinance software company based in the Netherlands that markets its microfinance platform to microfinance institutions (MFIs) serving between 10,000 and 50,000 clients. Musoni’s pricing structure to clients IS based on the size of the organization. As of February 2016, 42 MFIs, savings and credit co-operatives (SACCOs), and asset-financiers were using Musoni software in nine African countries and Myanmar.

Sources and Additional Resources

[1] Information communicated to MicroCapital by Goodwell Investments.

MicroCapital Universe Profile: Goodwell Investments

MicroCapital Universe Profile: Musoni Services

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