POSRocket, 
a Jordan-based provider of point-of-sale (POS) technology, recently raised USD 5.1 million in an equity round led by Algebra Ventures, an Egypt-based firm that invests in technology, and Sanad Fund for MSME, a Luxembourg-based vehicle targeting micro-, small and medium-sized enterprises (MSME) in the Middle East and North Africa (MENA). The other participating investors are
SPECIAL REPORT: Unlock New Value from Lending Operations: 6 Reasons Why Digital Loan Origination Holds the Key to Lasting Success
If your organization still relies on paper-driven lending processes, you’re missing out on opportunities to cut costs, boost efficiency and tap into new markets. Read on to discover the top reasons you can’t afford to delay making the move to digital loan origination.
Loan origination has long been a complex, highly manual process. It typically involves piles of paperwork, in-person visits and rigorous checks that cost financial providers serious time, money and effort. But this lending landscape is changing fast: Borrowers increasingly expect
MICROCAPITAL BRIEF: Allianz Commits $24m to Final Close of Huruma Fund, Investor in Rural Microfinance
Huruma Fund, a public-private partnership that invests in lenders to smallholder farmers in low- and middle-income countries, recently accepted an investment of EUR 20 million (USD 23.7 million) from German financial services firm Allianz Group as part of the fund’s final closing, bringing its total size to
MICROCAPITAL BRIEF: SEBI Approves $180m IPO by Microfinance Institution Fincare SFB of India
The Securities and Exchange Board of India (SEBI) recently approved plans by Fincare Small Finance Bank (SFB), an Indian microfinance provider, to proceed with an initial public offering (IPO) of up to INR 13.3 billion (USD 180 million), of which
MICROCAPITAL BRIEF: IFC Lends $12m to Garanti BBVA Leasing Romania for Microenterprises, SMEs, Including Women-owned Enterprises
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned EUR 10 million (USD 12 million) to Garanti BBVA Leasing Romania, which is controlled by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA). The investment is intended to support microenterprises as well as
MICROCAPITAL BRIEF: IFC Approves $250m Loan to HDFC for Housing Finance for Low-, Middle-income Borrowers in India; 25% Earmarked for Green Buildings
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently approved a loan of USD 250 million to Housing Development Finance Corporation Limited (HDFC), a housing lender based in India. Whereas green housing has “largely been regarded as a luxury market in the country,” one quarter of the loan amount is reserved for
MICROCAPITAL BRIEF: FINCA DRC, Flash International Partner to Expand Mobile Access to Financial Services in Congo
FINCA Democratic Republic of Congo (DRC), a subsidiary of US-based FINCA Impact Finance, recently announced a partnership with Flash International, a DRC-based financial technology (fintech) company. FINCA customers will gain access to Flash App, Flash International’s mobile financial services platform, while Flash customers will
MICROCAPITAL BRIEF: BlueOrchard Raises $207m in Equity for COVID-19 Emerging and Frontier Markets MSME Support Fund – Adding IDB, Visa Foundation as Investors
BlueOrchard Impact Investment Managers, a member of the UK-based Schroders Group, recently announced it raised USD 207 million in the second close of its COVID-19 Emerging and Frontier Markets MSME Support Fund, which is intended to counter “the economic consequences of the COVID-19 pandemic” among micro-, small and medium-sized enterprises (MSMEs) in low- and middle-income countries. The new investors in the funding round include IDB Invest, a member of the Inter-American
MICROCAPITAL BRIEF: EBRD, EU Lending $30m for MSMEs via ProCredit Bank Ukraine, Primarily for Green Technology
ProCredit Bank Ukraine recently agreed to borrow the approximate equivalent of USD 30 million from the UK-based European Bank for Reconstruction and Development (EBRD) and the EU. The funds, which are denominated in a mix of euros and Ukrainian hryvnia, are to be used for on-lending to micro-, small and medium-sized enterprises (MSMEs). The wholesale loan is part of the EU4Business-EBRD Credit Line,
MICROCAPITAL BRIEF: Alpha Direct of Botswana Expands Insurance Service to Zambia, Plans Equity Raise
Botswana-based insurance underwriter Alpha Direct recently expanded its operations to Zambia under the name Alpha Insurtech Zambia. Alpha Insurtech is partnering with Zambia-based General Alliance Insurance to
MICROCAPITAL BRIEF: REGMIFA Raises $10m from FMO to Invest in MSMEs in Sub-Saharan Africa
Recently, the Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA), a fund that invests in micro-, small and medium-sized enterprises (MSMEs) in 19 countries, accepted an investment of USD 10 million from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership. The purpose of REGMIFA is to
MICROCAPITAL BRIEF: Fintech Dinie of Brazil Raises $24m in Equity, Debt to Boost In-house API, Capacity, Securitization
Dinie, a financial technology (fintech) lender in Brazil, recently raised USD 3.8 million in a seed funding round led by Accion Venture Lab – a unit of US-based nonprofit Accion – and US-based investment firm K50 Ventures. The other participants were
SPECIAL REPORT: How Do We Build the Right Skills for a Sustainable Future?
There is no doubt that sustainability considerations recently have found their way into many areas of our lives. The global Fridays for Future movement is just one of several calls to action to significantly reduce carbon emissions and make the world more climate-resilient and socially equitable – and thus a better place to live. The adoption of the Paris Agreement and the UN’s Sustainable Development Goals (SDGs) are 
driving demand for low-carbon goods and services around the world. Thus, the sustainability wave has spilled over into the real economy and the financial sector, forcing stakeholders to rethink legacy business models and practices. Environmental, social and governance (ESG) considerations, being the main pillars for sustainability, have become key drivers for investment and other business decisions, as sustainability-related risks (e.g. climate change) have started to gain wide recognition.
The COVID-19 pandemic: A (final) push for sustainability?
The fragility of unsustainable business models and lack of practices for a resilient and robust economy – as well as survivability – became
MICROCAPITAL BRIEF: Agricover Credit IFN Borrows $18m from EIB to Expand Financial Access for Small, Medium-sized Farms in Romania
Recently, Agricover Credit IFN, a non-banking financial institution that specializes in financing agribusinesses in Romania, received a loan of EUR 7.5 million (USD 8.9 million) from the European Investment Bank (EIB), an entity of the EU. The agreement is designed to
MICROFINANCE PAPER WRAP-UP: “SME Finance Loans for Growth,” Published by Symbiotics
This paper offers an analysis of the impact of the SME Finance Loans For Growth (LFG) fund from its launch in 2016 through 2020. LFG is a collaboration of three Swiss organizations, the Symbiotics Group, the State Secretariat for Economic Affairs (SECO) and
MICROCAPITAL BRIEF: Incofin Raises $60m for India Progress Fund, Bringing Equity Investments to Rural Entrepreneurs, Value Chains from DFIs, Family Offices, King Baudouin Foundation, Korys, SDG Frontier Fund
Belgium-based Incofin Investment Management recently announced it has raised USD 60 million for the first close of the Incofin India Progress Fund (IPF). The fund will issue private equity investments that support
MICROFINANCE PAPER WRAP-UP: “COVID-19: Crisis as an Opportunity for Urban Cash Transfers?”; by Keetie Roelen, Edward Archibald, Christina Lowe; Published by ODI
Urban areas in developing countries were especially hard-hit by the COVID-19 pandemic due to a range of issues including “overcrowding, poor hygiene and sanitation, and widespread informal employment.” To support urban dwellers and others, many governments across the world implemented cash-transfer programs in response to COVID-19. However, just 16 percent
MICROCAPITAL BRIEF: DFC Boosts 2X Women’s Initiative Goal to $12b; Adds Climate, Technical Assistance Components; Announces Women’s World Banking (WWB) Fund Partnership
The government-backed US International Development Finance Corporation (DFC) recently announced a set of initiatives to boost its promotion of gender equity, including: (1) an increased goal of investing USD 12 billion in women over five years through its 2X Women’s Initiative, which supports “investment in projects that are owned by women, led by women, or provide a product or service that empowers women;” (2)