Symbiotics Group, a Switzerland-based impact investing firm, recently launched an independent research firm Tameo, which aims to “promote the growth of the impact investing industry by increasing transparency and supporting evidence-based decision-making via independent solutions.” The new firm will provide investors and investment managers with: (1) impact measurement, labeling, reporting and verification services; (2) the publication of benchmarks, indexes and
Category: Deals
MICROCAPITAL BRIEF: Amazon Leads $10m Equity Funding Round for M1xchange, Provider of Invoice Discounting for MSMEs in India
M1xchange, an India-based online exchange for receivables held by micro-, small and medium-sized enterprises (MSMEs), recently raised USD 10 million in a funding round led by US-based retailer and technology company Amazon, with participation from venture capital firms Beenext of Singapore and current US-based investor Mayfield. M1xchange’s other investor is SIDBI Venture Capital, an
MICROCAPITAL BRIEF: Grab Offering Insurance, Training People with Disabilities as Mobile Money Agents in Indonesia
Grab, a technology company founded in Singapore, recently partnered with Indonesia’s Communications and Information Ministry and the Indonesian Inclusive Connections Community, an NGO also known as Konekin, to found a program to train disabled people to
MICROCAPITAL BRIEF: SaltPay Acquires Paymentology, Tutuka to Boost Cloud Payments in Africa, Asia, Europe
SaltPay, a UK-based payment technology firm serving small and medium-sized enterprises in Europe, recently struck deals to acquire International Tutuka Holdings, a provider of payment cards that is based in South Africa, and
MICROCAPITAL BRIEF: Utkarsh Raises $32m in Equity from Aavishkaar, Growth Catalyst, Olympus, responsAbility, Triodos for Microfinance in India
Utkarsh Small Finance Bank (SFB) of India recently concluded a private placement of equity shares, raising INR 2.4 billion (USD 32 million) shortly after filing with local regulatory authorities for an upcoming IPO, through which it plans to raise an additional INR 7.5 billion (USD 100 million). The participants in the recent funding round were
MICROCAPITAL BRIEF: Mastercard Buying 3.8% Equity Stake in Mobile Money Unit of Airtel Africa for $100m
Mastercard, a US-based financial services company, recently agreed to pay USD 100 million for a 3.75-percent equity stake in Airtel Mobile Commerce, a subsidiary of the telecommunications company Airtel Africa that uses the trade name Airtel Money. Mastercard and Airtel Money plan to deepen their ongoing partnership in the areas of
MICROCAPITAL BRIEF: Fintech Appzone of Nigeria Raises $10m in Funding Round Led by CardinalStone Capital Advisers
Appzone, a Nigeria-based financial technology firm, recently raised USD 10 million (NGN 3.8 billion) in its Series A round of funding, which was led by Nigeria-based private equity investor CardinalStone. The other participating investors were US-based Lateral Investment Partners and three Nigeria-based firms:
MICROCAPITAL BRIEF: EBRD Lends OTP Bank Serbia $23m in Local Currency to Boost SME Funding
The UK-based European Bank for Reconstruction and Development (EBRD) recently agreed to loan Országos Takarék Pénztár (OTP) Bank Serbia, a member of the Hungary-based OTP Bank Group, RSD 2.3 billion (USD 23 million) to increase its “medium-term” funding for small and medium-sized enterprises (SMEs). OTP Serbia’s other products include savings; insurance; securities; and loans tailored for retirees, vehicle purchases, housing expenses, consumption and refinancing debt.
MICROCAPITAL BRIEF: Fintech Zeepay of Ghana Buys Controlling Stake in Mangwee Mobile Money of Zambia
The Ghana-based financial technology (fintech) company Zeepay recently bought a 51-percent stake in Zambia-based digital wallet and remittance platform Mangwee Mobile Money for an undisclosed price. Zeepay Managing Director Andrew Takyi-Appiah noted, “The acquisition… will give Zeepay access to Mozambique, Malawi, Angola and Namibia among others in our effort to
MICROCAPITAL BRIEF: Comviva, Logiq Tie Up on Mobile Money in Indonesia
US-based Logiq Incorporated recently launched its PayLogiq digital wallet in Indonesia, using the Mobiquity Pay platform of Comviva Technologies, which is controlled by India’s Mahindra Group. Logiq also leverages Comviva’s Yabx service to lend to merchants and finance their customers’ purchases. Among Logiq’s distribution partners is
MICROCAPITAL BRIEF: Pahal Financial Services Borrowing $3.5m from Grameen Crédit Agricole Foundation for Microfinance for Women in India
The Grameen Crédit Agricole (GCA) Foundation, whose head office is in Luxembourg, has agreed to lend EUR 3 million (USD 3.5 million) over three years to Pahal Financial Services, a microfinance institution based in Ahmedabad, India. Caroline Brandt, senior investment manager at GCA Foundation, stated that the partnership will
MICROCAPITAL BRIEF: Cora Raises $27m in Equity from Ribbit, Greenoaks, Kaszek for Fintech in Brazil
Cora, a Brazil-based financial technology (fintech) firm that serves owners of small and medium-sized enterprises (SMEs), recently announced it received approximately BRL 150 million (USD 26.7 million) in its Series A funding round, led by US-based investment firm Ribbit Capital with participation from US-based Greenoaks Capital and Argentina-based Kaszek Ventures. The breakdown of the investment total among the firms and the sizes of the stakes
MICROCAPITAL BRIEF: Dominican Republic-Based Banco Caribe to Receive $2.64m, Technical Assistance from Oikocredit to Support SMEs
Netherlands-based cooperative Oikocredit recently invested DOP 150 million (USD 2.64 million) in Dominican Republic-based Banco Caribe to support the country’s small and medium-sized enterprises (SMEs), with the hope that the infusion will “further [motivate] responsible investments in the region.” Additionally, Oikocredit will provide Banco Caribe with technical
MICROCAPITAL BRIEF: DFC to Double $48m in Lending to MicroVest to Promote Investment in Microfinance, SMEs, Women
The US government’s International Development Finance Corporation (DFC) recently committed to doubling its USD 48 million debt funding of US-based asset management firm MicroVest, aiming to “expand financing opportunities for microfinance and SME [small, and medium-sized enterprise] finance institutions that support underserved microenterprises and small businesses worldwide.”
Algene Sajery, the head of global gender equity initiatives for DFC, stated, “DFC is pleased to support MicroVest’s
MICROCAPITAL BRIEF: DFC to Guarantee $10m in Borrowing by Trine to Invest in Solar Power in Latin America, Caribbean
The US government’s International Development Finance Corporation (DFC) recently agreed to cover half of potential losses on USD 20 million being raised by Trine AB, a Sweden-based solar investment platform, to support industrial solar ventures as well as mini-grids in Latin America and the Caribbean. This funding is sufficient to supply renewable energy to approximately 600,0
MICROCAPITAL BRIEF: Apis Partners, JG Summit Commit $108m for Minority Equity Stakes in TymeBank to Expand Microinsurance, Payment Card Services to Individuals, SMEs in South Africa
TymeBank, the South African unit of Singapore-based TymeGlobal, has secured commitments totaling ZAR 1.6 billion (USD 108 million) from the Filipino conglomerate JG Summit Holdings and UK-based asset manager Apis Partners. Although the exact terms of the deal have not been released, TymeBank has so far received
MICROCAPITAL BRIEF: Deetken Impact, Pro Mujer Raise $1.3m from USAID for Ilu Women’s Empowerment Fund to Deploy in Latin America, Caribbean
Canada-based asset management company Deetken Impact and US-based nonprofit women’s development organization Pro Mujer recently announced they have raised USD 1.3 million from the US Agency for International Development (USAID) for the Ilu Women’s Empowerment Fund, which is active in Latin America and the Caribbean. Deetken plans to leverage a portion of the funding to attract private investment, adding a total of USD 5 m
MICROCAPITAL BRIEF: Nordic Microfinance Initiative, Adar Poonawalla, Rajiv Dadlani Group Boost Equity Stakes in Svasti of India
Three previous investors in the company recently committed an additional INR 310 million (USD 4.3 million) to Svasti Microfinance, a provider of loans and payment services to 188,000 customers in India, mostly