MICROCAPITAL BRIEF: Kiva Lends $2m to Migrante, Provider of Vehicle Loans to Migrants from Venezuela to Chile

Kiva Capital, a unit of the US-based NGO Kiva, recently informed MicroCapital that it has loaned USD 2 million to Migrante, a lender to migrants and refugees in Chile, through its Kiva Refugee Investment Fund. Founded in 2018, Migrante is a financial technology (fintech) firm with 27,000 borrowers, mainly refugees from Venezuela. The majority of the firms’ workers also are immigrants. Most of its loans are for vehicles, but the fintech also helps people re-validate their educational credentials. Migrante also offers vehicle insurance. The firm reports having issued loans totaling CLP 63 billion (USD 70 million), funding 11,000 vehicles since its inception.

Kiva works to help people improve their livelihoods through: (1) Kiva.org, a crowdfunding website; (2) Kiva Capital, a fund manager and wholesale lender to microfinance institutions and other social enterprises; (3) Kiva Labs, which tests new financial products; and (4) Kiva Protocol, which seeks to ease citizens’ access to digital identification. During 2021, the NGO facilitated loans totaling USD 223 million to 556,000 borrowers – 80 percent of whom are women – in 60 countries. For the same year, Kiva reported income of USD 49 million, closing with total assets of USD 47 million.

Sources and Additional Resources

Direct contact with Kiva

Migrante homepage
https://www.migrante.com

Kiva financial data
https://www.kiva.global/annual-reports-and-finances/

Kiva.org homepage
https://www.kiva.org

Additional news on Kiva
https://www.microcapital.org/?s=kiva

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