U.S. International Development Finance Corp

U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest in projects that create jobs in emerging markets in sectors including energy, healthcare, critical infrastructure, telecommunications, and financing for small businesses and women entrepreneurs. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

Maryam Khosharay

Vice President

35 past transactions

Buymed

Series B in 2023
Buymed operates a digital pharmaceuticals distribution platform in Vietnam, known as Thuocsi.vn. Founded in 2018 and based in Ho Chi Minh City, the platform supplies a wide range of healthcare products, including medicines, cosmetics, medical devices, and supplements. It serves over 1,000 pharmacies and clinics across the country, offering detailed product information such as pricing and active ingredients. Additionally, Thuocsi.vn features a communication network that provides important updates, including product recalls. The company is recognized as a successful startup in the medical technology sector, attracting young talent eager to integrate advanced technology into healthcare solutions.

TerraPay

Series B in 2023
TerraPay is a mobile-first international payment network that facilitates the secure and seamless transfer of funds across borders. By interconnecting various financial services providers, including mobile wallet services, money transfer operators, banks, and payment platforms, TerraPay creates a unified network for transnational transactions. Its platform supports a wide range of services, including interpersonal transfers, e-payments, and government disbursements, and is designed to integrate easily with any mobile wallet provider through standard open APIs. As a fully regulated financial intermediary, TerraPay takes on comprehensive responsibilities that include regulatory compliance, foreign exchange management, and funds settlement, ensuring a reliable payment experience. The company's software solutions are tailored for mobile-focused remittances, enabling customers to send money quickly, safely, and affordably.

JCM Power

Debt Financing in 2022
JCM Power Corporation operates as an independent power producer (IPP) in Canada. It develops and operates renewable energy projects in Africa, Latin America, and South Asia. The company’s projects include solar photovoltaic projects, wind energy projects, and high-voltage direct current (HVDC) transmission projects. JCM Power Corporation was founded in 2009 and is based in Toronto, Canada with regional headquarters in Naucalpan de Juárez, Mexico; Johannesburg, South Africa; and Karachi, Pakistan.

India Shelter

Debt Financing in 2022
India Shelter Finance Corporation Limited, a housing finance company, provides credit to middle income households to acquire new housing or to extend and improve current housing. It offers home loans and loans against property. India Shelter Finance Corporation Limited was formerly known as Satyaprakash Housing Finance India Limited and changed its name to India Shelter Finance Corporation Limited in March 2010. The company was founded in 1998 and is based in Gurugram, India.
Shriram Transport Finance Company Limited, established in 1979, is a leading non-banking finance company in India specializing in commercial vehicle finance. It focuses primarily on providing financing for pre-owned trucks, catering especially to Small Truck Owners (STOs). With a significant market presence, the company holds approximately 25% market share in the pre-owned segment and around 5-6% in new truck financing. Shriram Transport has an extensive network of 620 branches and 515 rural centers, facilitating access to its financial products. In addition to trucks, the company has diversified its offerings to include financing for tractors, small commercial vehicles, three-wheelers, passenger commercial vehicles, and construction equipment, thereby addressing a wide range of transportation and equipment financing needs.

Konfio

Debt Financing in 2022
Konfio is a financial technology company based in Mexico City that focuses on providing online financial solutions for micro entrepreneurs and small to mid-size enterprises. Founded in 2013, Konfio offers a range of products including fixed-rate loans, working capital loans, corporate credit cards, and online payment solutions. The company utilizes a proprietary algorithm that combines data and technology to assess creditworthiness, enabling it to extend credit to clients who have been historically underserved by traditional banks. Additionally, Konfio provides business productivity software tools and a loyalty program, all designed to enhance the growth and productivity of its clients. Through its innovative approach, Konfio aims to facilitate economic growth by making financial services more accessible and affordable.

RBL Bank

Post in 2022
RBL Bank is one of India’s fastest growing scheduled commercial banks. It is continuously expanding its presence across India through a growing network of branches and ATMs. Established in 1943, RBL Bank undertook a transformational journey under a new management team in 2010. RBL Bank embarked on an aggressive growth plan based on a robust platform of strong governance, relationships, technology infrastructure, high quality capital and geographic expansion. Over the last two years, it has infused capital of over र 1,100 Crore from some of the most notable global and domestic names, taking the TIER 1 capital to र 1,600 Crore (approx.) Today, RBL Bank offers specialized services under the five business verticals: namely Corporate & Institutional Banking, Commercial Banking, Retail Banking, Agri & Development Banking and Financial Markets. The bank currently services over 5 Lakh customers and has a total business size of over Rs. 14,500 Crore. s of August, 2014, RBL Bank has grown to a network of 180 branches and 374 ATMs across 13 Indian states.

Gavi, the Vaccine Alliance

Debt Financing in 2022
Created in 2000, Gavi is an international organisation - a global Vaccine Alliance, bringing together public and private sectors with the shared goal of creating equal access to new and underused vaccines for children living in the world’s poorest countries.

Motilal Oswal Home Finance

Debt Financing in 2022
Operator of a housing finance company created to enable homeownership among lower and middle-income Indian families. The company's specialty lies in offering home, plot, construction, composite, home improvement and home extension loans through its robust technology platform, which enables customers to receive end-to-end processing of home loan applications, from sourcing to disbursement to collections.

AgDevCo

Debt Financing in 2022
AgDevCo is a social impact investor and agribusiness project developer, incorporated as a non-for-profit distribution, limited companyin.

Copia Global

Series C in 2022
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.
Arya Collateral Warehousing Services Private Limited specializes in post-harvest services that support the agricultural value chain. The company offers a range of storage and logistics solutions, including warehousing, fumigation, quality testing, and port handling. It also provides stock audits for commodity loans and cash credit, as well as procurement facilitation services that assist with on-field farmer procurement and export assistance. Additionally, Arya offers consulting services focused on the post-harvest value chain, farm linkages, and commodity-based finance. The company caters to a diverse clientele, including farmers, farmer producer organizations, processors, financial institutions, agri-corporations, international buyers, and development actors. Established in 1982, Arya Collateral Warehousing Services is headquartered in Noida, India.

Reciki

Debt Financing in 2021
Reciki is a waste management company focused on providing smart waste management systems in Indonesia. The company specializes in a range of services, including waste collection, processing, recycling, and raw material recovery. By promoting environmental development and sustainability, Reciki aims to support the circular economy while offering clients cost-effective waste management solutions. Its comprehensive approach helps address various waste management challenges, contributing to both ecological preservation and resource efficiency.

Apollo Agriculture

Debt Financing in 2021
Apollo Agriculture is a company based in Nairobi, Kenya, that provides essential financial and technical support to smallholder farmers in emerging markets. Founded in 2015, it offers customized farming loans that enable farmers to purchase vital inputs such as seeds, fertilizers, and crop insurance. Utilizing agronomic machine learning, remote sensing, and mobile technology, Apollo assesses credit risk and tailors its services to each farmer's specific circumstances, enhancing their productivity and profitability. By leveraging satellite and soil data, along with insights into farmer behavior, Apollo aims to double farm yields and promote sustainable agricultural practices. The company's innovative approach combines technology with expert advice, positioning it as a key player in the agricultural sector.

First Solar

Post in 2021
First Solar is a leading manufacturer of solar photovoltaic panels and systems, specializing in utility-scale development projects. Utilizing advanced cadmium telluride thin-film technology, the company produces solar modules that efficiently convert sunlight into electricity. With manufacturing facilities in Vietnam, Malaysia, the United States, and India, First Solar is recognized as the world's largest thin-film solar module manufacturer. The company is committed to reducing manufacturing costs to offer an affordable and environmentally friendly alternative to fossil fuels, particularly during peak energy demand periods. Additionally, First Solar has established a prefunded collection and recycling program for its solar modules, setting a benchmark for environmentally responsible product lifecycle management.

Indifi

Debt Financing in 2021
Indifi Technologies Pvt. Ltd. operates a digital lending platform that connects small businesses in India with lenders, facilitating access to loans for those with potential but limited access to traditional financing options. Founded in 2015 and based in Gurugram, the company utilizes technology to gather and analyze data from various sources, assessing the creditworthiness of businesses based on their performance and industry context. This approach allows Indifi to identify low-risk, high-potential borrowers, thereby increasing their chances of securing funding. The platform supports a variety of sectors, including e-commerce, travel, hospitality, retail, and trading. Additionally, Indifi offers lifecycle support services for lenders, encompassing marketing, customer relationship management, data aggregation, loan monitoring, and payment management, ultimately creating a streamlined process for both borrowers and lenders.

Ampersand

Debt Financing in 2021
We catalyze and power mass market electric mobility. By supplying the battery swap network and operating system we make sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug & play powertrain and energy network, we are Africa's leading light e-mobility startup.

Africa Healthcare Network

Debt Financing in 2021
Africa Healthcare Network (AHN) has pioneered the first dialysis chain in Sub-Saharan Africa, aimed at delivering affordable, high-quality dialysis services for patients suffering from Acute Kidney Injury and End-Stage Renal Disease. In a region where existing facilities are limited and often charge exorbitant fees, AHN addresses the critical shortage of accessible dialysis care. The organization leverages its technical expertise and practical experience to establish well-equipped centers, while also focusing on training healthcare professionals to enhance service delivery. As Chronic Kidney Disease and related health issues rise due to urbanization and lifestyle changes, AHN's model prioritizes operational efficiency and cost-effective sourcing of medical supplies, thereby reducing treatment costs for patients. Operating in Rwanda, Tanzania, and Kenya, AHN is committed to increasing access to life-saving dialysis care, ultimately improving patient outcomes while ensuring financial sustainability.

Africell Holding

Debt Financing in 2021
Africell was established in 2001 in Africa and has been shaped by traditional African values, putting the communities in their markets at the heart and soul of our business. Connecting and empowering local communities lies at the very core of our strategy. Africell is one of the fastest-growing mobile telecommunications operators in Africa. They have established theirselves as the number one provider in Gambia and Sierra Leone and are rapidly growing our newer operations in Democratic Republic of the Congo (DRC) and Uganda, where we purchased Orange Uganda. Africell Holding owns 100% of Africell’s operations in Gambia, Sierra Leone, DRC, and 98.99% of Africell Uganda. The total number of active subscribers reached 11 million by end of 2016. All four operations offer voice and 3G data services with plans to deploy LTE services, which are already available in Kampala, Uganda.

TechMet

Venture Round in 2021
TechMet Limited is a private company based in Dublin, Ireland, focused on securing the supply of essential technology metals critical for the growth of electric vehicles, energy storage, and renewable energy. Founded in 2017, TechMet is engaged in building, controlling, and monitoring projects across the technology metal supply chain, with a particular emphasis on metals such as nickel, cobalt, lithium, rare earth elements, vanadium, tungsten, and tin. The company holds interests in both production and development assets located in Africa, North America, and South America, positioning itself to play a significant role in the future of sustainable technology.

MicroVest

Debt Financing in 2021
MicroVest is a private equity firm based in Bethesda, Maryland, that focuses on investments in small and medium-sized enterprises worldwide. Established in 2003, the firm primarily invests in low-income financial institutions, including microfinance institutions, consumer finance companies, and banks that support small and medium enterprises. MicroVest typically commits between $0.1 million and $15 million to its portfolio companies, utilizing various investment structures such as debt, equity, loan guarantees, and quasi-equity sub-debt. The firm has a global investment mandate, with a preference for regions including the Middle East, Latin America, Central America, Mexico, the United States, Canada, Europe, Eastern Europe, Asia, and the Indian Sub-Continent. MicroVest aims to create a positive social impact while providing investors with unique opportunities in underserved markets.

Root Capital

Debt Financing in 2021
Root Capital is a non-profit organization based in Cambridge, Massachusetts, founded in 1999. It focuses on supporting economically vulnerable communities in Africa, Latin America, and Southeast Asia by providing financial resources, training, and market connections to small and growing agricultural enterprises. These businesses, which often struggle to secure financing from traditional banks, play a vital role in purchasing crops such as coffee, cocoa, and grains from smallholder farmers. By investing in these agricultural enterprises, Root Capital aims to foster rural prosperity and transform local communities, thereby creating a sustainable impact in the regions it serves. The organization has additional offices in Costa Rica, Kenya, Nicaragua, Senegal, and Mexico.

Northern Arc

Debt Financing in 2021
Northern Arc Capital Limited is a non-banking financial company based in Chennai, India, established in 1989. The company specializes in providing a range of financial services, including microfinance, agricultural finance, housing finance, vehicle finance, and consumer finance. It also offers small business and gold loans, along with fintech services. Northern Arc focuses on connecting high-quality originators to enhance financial service access for underserved households and businesses. In addition to its lending services, the company provides structured products, capital market instruments, term loans, debt syndication, guarantee-backed lending, and fund management services. Originally known as IFMR Capital Finance Private Limited, the company rebranded to Northern Arc Capital Limited in March 2018.

Kasha

Venture Round in 2021
Kasha is a platform for women’s health products and information serving women across all socioeconomic levels in urban and rural areas.

Prodigy Finance

Debt Financing in 2021
Prodigy Finance Limited operates an online platform that facilitates education loans for international postgraduate and MBA students, enabling access to higher education that may otherwise be financially unattainable. Founded in 2006 and headquartered in London, the platform connects student borrowers with a community of lenders, which includes alumni, institutional investors, qualified private investors, and banks. These lenders collectively fund the loans, offering financial and social returns on their investments. The company utilizes localized lending templates and historical earnings data to assess cross-border risk, allowing it to serve students from over 150 nationalities. Through this innovative approach, Prodigy Finance aims to bridge the funding gap for aspiring international students.

Samunnati

Debt Financing in 2020
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

Copia Global

Venture Round in 2020
Copia Global is an e-commerce company based in Nairobi, Kenya, that focuses on providing a consumer catalog order and delivery system for middle to low-income individuals in developing regions. Founded in 2013, the company enables users to browse products and place orders through a mobile application, which also allows local shopkeepers to manage orders and payments via a mobile payment system. By leveraging mobile technologies and a network of local agents, Copia Global facilitates access to a wide range of quality goods for rural and peri-urban consumers. This innovative approach ensures that individuals without reliable internet access can still make purchases and receive products conveniently, ultimately empowering them as consumers.

Kasha

Venture Round in 2020
Kasha is a platform for women’s health products and information serving women across all socioeconomic levels in urban and rural areas.

FreshToHome

Series C in 2020
Freshtohome is an online grocery store that sells a range of seafood and meat to its users. The website’s range of products include fish, poultry, mutton, steaks, and fillet. Fish consists of shell, freshwater, and marine. Furthermore, it enables suppliers to supply their seafood and meat to the website. Freshtohome was launched in 2015 by Shan Kadavil and is based in Bangalore.

Kodak

Post in 2020
Kodak is a technology company based in Rochester, New York, established in 1888 by George Eastman. It specializes in providing imaging solutions and services for both enterprises and consumers. The company is known for its photographic film products but has shifted its focus toward digital photography and digital printing in response to the rise of digital cameras. Kodak's key segments include digital printing and enterprise solutions, as well as graphic communications and professional services. Although it previously manufactured a range of consumer products, including digital cameras and video devices, Kodak is now primarily concentrated on the corporate digital imaging market, offering a variety of services tailored to business needs.

Milk Mantra

Debt Financing in 2020
Milk Mantra Dairy Pvt. Ltd. is a dairy company based in Bhubaneswar, India, founded in 2009. It specializes in processing, packaging, and distributing a variety of dairy products under the Milky Moo and MooShake brands. Milky Moo offers a range of products including pure milk, probiotic dahi, pouch dahi, paneer, lassi, and buttermilk, while MooShake features flavored milkshakes such as nutty badam, peachy strawberry, slurpy mango, chocolate, and vanilla. The company works directly with farmers to procure milk, ensuring quality through rigorous testing and processing. Milk Mantra distributes its products through over 10,000 local stores across Odisha and provides direct home delivery services. The company is committed to promoting dairy development in Odisha and neighboring states, emphasizing healthy and sustainable dairy consumption.

Northern Arc

Debt Financing in 2020
Northern Arc Capital Limited is a non-banking financial company based in Chennai, India, established in 1989. The company specializes in providing a range of financial services, including microfinance, agricultural finance, housing finance, vehicle finance, and consumer finance. It also offers small business and gold loans, along with fintech services. Northern Arc focuses on connecting high-quality originators to enhance financial service access for underserved households and businesses. In addition to its lending services, the company provides structured products, capital market instruments, term loans, debt syndication, guarantee-backed lending, and fund management services. Originally known as IFMR Capital Finance Private Limited, the company rebranded to Northern Arc Capital Limited in March 2018.

Caspian

Debt Financing in 2020
Caspian Impact Investments Private Limited is a venture capital firm based in Hyderabad, India, specializing in growth capital investments in seed, startup, and early-stage companies. The firm focuses on making debt and equity investments in sectors that address the needs of low-income and informal populations, particularly in microfinance, affordable housing, small business financing, and clean energy. Caspian aims to generate both financial returns and social impact by investing in high-quality, socially responsible businesses that improve access and efficiency in various ecosystems. The firm primarily targets non-banking financial companies and is dedicated to supporting enterprises that foster positive social and environmental outcomes, particularly within India's commercial services and agriculture sectors.

Varthana

Debt Financing in 2020
Varthana provides loans and support for affordable private schools. They are a Non-Banking Financial Company (NBFC) headquartered in Bangalore, India.
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