MICROCAPITAL BRIEF: Gojo Raises $48m in Equity for Microfinance, Eyeing Digitalization in Asia, Expansion to Africa - MicroCapital Gojo Raises $48m in Equity for Microfinance in Asia

Gojo and Company, an investor in financial inclusion in Asia, recently raised USD 48 million in a Series E equity round led by three of its ongoing investors, which were joined by 18 new investment firms and several individual investors. The plan for the fresh cash includes “strengthening the financial foundations of group companies, further[ing] growth after the recovery from COVID-19 impact, and promoting the digitalization of group companies, as well as possible expansion to new markets in Asia and Africa.” The group companies comprise five in India and one each in Cambodia, Myanmar, Sri Lanka and Tajikistan. Together, these financial services providers have 1.4 million clients. Gojo was established in 2014 and manages assets valued at USD 703 million as of September 2022.