M-KOPA provides connected asset financing solutions for underbanked customers. Its platform combines digital micropayments and IoT connectivity to offer access to products including solar lighting, televisions, fridges, smartphones, financial services, and more.
Green Yellow Holding generates electricity from centralized power plants and offers solar panels. The company allows anyone to produce and manage energy while creating value, through solar photovoltaics, efficiency, and energy optimization.
Mawingu uses high-performance low-cost wireless technology and solar power to build fast internet networks in rural areas. Customers use Wi-Fi to connect. Mawingu’s unique application of open technologies enables a world-class scalable network, with open and secure roaming in a highly challenging geographical environment
SolarX commercial and industrial (C&I) solar company that provides clean and efficient solar solutions, through leasing options in frontier markets.
Sahyadri Farms is a integrated fruits and vegetables value chain. Sahyadri Farms is an initiative fully led and managed by farmers who have complete understanding of the problems faced by small-landholding farmers. Sahyadri Farms was established on January 11, 2011 by Shitij Agrawaal in Nasik, Maharashtra.
Innoviti develops payments processing, credit distribution, and payments management software solutions. It offers uniPAY, a unified payment and card management system for retailers; quickEMI, a solution that provides consumers the option of paying for their purchases in installments on their credit cards; pgEMI, a solution that provides consumers the option of paying for their purchases in installments; and fastCollect, an automated collection technology for banks and retailers/online megastores. Innoviti serves markets, such as retail, mobile, lifestyle, entertainment, jewelry, education, cabs, holidays, hotels, restaurants, wellness, healthcare, online, and banks.
Innoviti develops payments processing, credit distribution, and payments management software solutions. It offers uniPAY, a unified payment and card management system for retailers; quickEMI, a solution that provides consumers the option of paying for their purchases in installments on their credit cards; pgEMI, a solution that provides consumers the option of paying for their purchases in installments; and fastCollect, an automated collection technology for banks and retailers/online megastores. Innoviti serves markets, such as retail, mobile, lifestyle, entertainment, jewelry, education, cabs, holidays, hotels, restaurants, wellness, healthcare, online, and banks.
Equity Bank Kenya is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank by the central bank of Kenya, the central bank, and national banking regulator. Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Group Holdings Limited.
Paymob is a regional digital payments enabler that builds payments infrastructue technologies empowering the underserved with access to financial services. Paymob is bridging the financial inclusion gap in MEA region by enabling businesses of all sizes to benefit from the power of digital payments and what it unlocks. Paymob was founded in 2015 and headquartered in Cairo, Egypt.
Neogrowth operates as a non-banking financial company, it is focused on meeting the financial needs of small businesses which sell goods and services to consumers. It offers business financing services to small- and medium-sized retail companies that sell apparel, consumer durables and electronic items, footwear and accessories, handicrafts, gifts, and optical goods as well as to restaurants, beauty salons, hotels, gymnasiums, and health diagnostic centers. Neogrowth was established in 2011 by Dhruv Khaitan and Piyush Khaitan in Mumbai, Maharashtra.
Farmerline is an AgriTech startup that provides information access, record-keeping services, and communication for farmers. The company also provides paid services that allow farmers to have the information and access they need to employ an entrepreneurial method of farming. Input dealers and traders pay for more efficient communication channels to farmers and farmers pay for information packages and services. It offers input financing to farmers through organized groups, climate-smart farming education, logistics services, access to high-quality fertilizer and seeds, and other digital tools while connecting them to agribusinesses in international markets, allowing them to increase their crop yields and opening up trade networks and opportunities.
Ulusoy Un is an Industry and Trade Joint Stock Company that manufacture, trade, import, and export all kinds of foodstuffs such as flour, semolina, pasta, and biscuits made from cereals and legumes. Ulusoy Un's main field of activity is the production, trade, domestic and international sales of wheat flour, bran, and other feed raw materials, and domestic and international trade of various grains, especially wheat.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
DeHaat is a technology-led platform that offers end-to-end agriculture services to Indian farmers with an aim to improve the efficiencies of the agriculture value chain. DeHaat connects small farmers to their various needs – Seeds, fertilizers, equipment, crop advisory, and market linkage through a wide network of trained micro-entrepreneurs. Registered farmers get access to a wide range of agricultural inputs (Seed, Fertilizer, and Crop protection) directly from competitive sources. Subsequently, they get customized crop reminder calls in the local language as well as crop monitoring support from the same DeHaat micro-entrepreneur. Lastly, they sell the farm produce directly to institutional buyers. Farmers place their various demands related to Agri input, field visits or Agri output either through the toll-free number or mobile application and get last-mile services through assigned micro-entrepreneur.
D.light is a solar home lighting and power product developer. The company's solar goods, which include lights, radios, televisions, fans, and other home appliances, are rechargeable solar kits, allowing rural and semi-urban people to access solar-powered lighting and appliances. Their products are designed to improve health, increase productivity, and enhance the quality of life for users.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
ZOLA Electric designs renewable energy solutions based on the latest in solar, battery and power electronics technology. Adaptable to energy need and income, ZOLA Electric’s solar systems can be bought over time using PAYGo micro-finance leasing and mobile money payments. ZOLA Electric powers more than 180,000 homes and businesses across Tanzania, Rwanda, Côte d’Ivoire and Ghana. Investors include Tesla, Vulcan Capital, DBL Partners, Helios Investment Partners, EDF, Total and GE Ventures. ZOLA Electric is a recipient of the UN Momentum for Change Award, the Zayed Future Energy Prize and is a member of the Global Cleantech 100.
Khan Bank is a universal bank and a customer of FMO.
dopay provides a cloud-based payroll service that allows employers to calculate salaries and make payments electronically. Worldwide there are 2 billion people that have jobs but no bank account. Companies feel this acutely. Since both their employees and their customers are unbanked, they have to manage huge amounts of cash. DoPay breaks this cash cycle by offering a payroll and cash management service for companies. Employees receive a DoPay card and DoPay app, which give them a full banking experience. They are already working in partnership with Barclays to provide payroll services to several multinationals, embassies and local companies in Egypt and aim to expand into the largest unbanked regions of the world.
REGMIFA is a private debt investment firm for micro, small, and medium-sized enterprises. They offer technical assistance in the areas of governance, business planning, risk management, internal control, product development, human resources, finance and accounting, marketing and customer relationship management, institutional development and transformation, management information systems, and others.
Moniepoint is a financial technology company that renders payments, credit, business management, and banking services for businesses. The platform also provides mobile banking solutions, allowing businesses to create their accounts and accept online payments.
Paymob is a regional digital payments enabler that builds payments infrastructue technologies empowering the underserved with access to financial services. Paymob is bridging the financial inclusion gap in MEA region by enabling businesses of all sizes to benefit from the power of digital payments and what it unlocks. Paymob was founded in 2015 and headquartered in Cairo, Egypt.
Northern Arc Capital is a non-banking finance company that provides access to debt for under-served investors and businesses. Northern Arc Capita connects originators so that they may deepen their presence and provide access to financial services to millions of under-served households. Northern Arc Capital formerly Known as IFMR Capital.
BRAC is a development success story, spreading solutions born in Bangladesh around the world – a global leader in creating opportunity for the world’s poor. What started out as a limited relief operation in 1972 in a remote village of Bangladesh has turned into the largest development organisation in the world. Organising the poor using communities’ own human and material resources, BRAC (formerly Bangladesh Rural Advancement Committee) catalyses lasting change, creating an ecosystem in which the poor have the chance to seize control of their own lives. They do this with a holistic development approach geared toward inclusion, using tools like microfinance, education, healthcare, legal services, community empowerment, social enterprises and BRAC University. Their work now touches the lives of an estimated 135 million people, with staff and BRAC-trained entrepreneurs numbering in the hundreds of thousands, a global movement bringing change to 11 countries in Asia, Africa and the Caribbean.
Lendingkart is a financial technology company based in India that specializes in providing working capital loans and financing solutions to small and medium-sized enterprises (SMEs). They leverage technology and data analytics to assess the creditworthiness of businesses quickly and efficiently, enabling them to offer fast and convenient loan approval processes. The company aims to address the financing needs of SMEs that may face challenges in accessing traditional bank loans due to lack of collateral or credit history. Lendingkart's platform offers a seamless and user-friendly experience for businesses seeking funding, allowing them to apply for loans online and receive funds in a timely manner.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
M-KOPA provides connected asset financing solutions for underbanked customers. Its platform combines digital micropayments and IoT connectivity to offer access to products including solar lighting, televisions, fridges, smartphones, financial services, and more.
Mekong Timber Plantations operates as a forestry plantation company. Mekong Timber Plantations manages an existing plantation estate in Laos with a focus on improving silvicultural practices and ensuring the business meets international best practices for responsible forest management.
Nomanini’s platform connects the disparate ecosystem around informal retailers including service providers, consumer wallets, distributors and manufacturers through an interoperable merchant wallet. Transactions through the merchant wallet provide data for loans, a means of accumulating savings, and business intelligence for actionable insights; which ultimately, boosts profits for all participants.
Nomanini’s platform connects the disparate ecosystem around informal retailers including service providers, consumer wallets, distributors and manufacturers through an interoperable merchant wallet. Transactions through the merchant wallet provide data for loans, a means of accumulating savings, and business intelligence for actionable insights; which ultimately, boosts profits for all participants.
DeHaat is a technology-led platform that offers end-to-end agriculture services to Indian farmers with an aim to improve the efficiencies of the agriculture value chain. DeHaat connects small farmers to their various needs – Seeds, fertilizers, equipment, crop advisory, and market linkage through a wide network of trained micro-entrepreneurs. Registered farmers get access to a wide range of agricultural inputs (Seed, Fertilizer, and Crop protection) directly from competitive sources. Subsequently, they get customized crop reminder calls in the local language as well as crop monitoring support from the same DeHaat micro-entrepreneur. Lastly, they sell the farm produce directly to institutional buyers. Farmers place their various demands related to Agri input, field visits or Agri output either through the toll-free number or mobile application and get last-mile services through assigned micro-entrepreneur.
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.
Aerobotics is a data analytics company, providing tree and fruit insights enabled by drone imagery and artificial intelligence.
ZIZ Energie develops, finances, builds, and operates metro-grids. It is also a construction company specializing in rural and urban electrification. They distribute electrical products and equipment.They also provide energy services to industrial and commercial customers.
Husk Power Systems ("Husk") owns, builds and operates solar-hybrid microgrids that serve off-grid and weak-grid communities in rural Sub-Saharan Africa and South Asia. It provides its business and residential customers with 100% renewable electricity and access to energy efficient appliances. In the process, it is contributing to climate resilience while also avoiding a significant amount of emissions from diesel generation. Husk has more than 200 minigrids in operation, the largest fleet in the world. The company is a catalyst for economic growth and social well-being, helping rural communities increase incomes and create employment by starting or expanding microenterprises and running electricity-operated machines that increase productivity. It also provides reliable power to local clinics and schools and education, improving healthcare and educational outcomes. Husk Power Systems was founded by co-founded by CEO Manoj Sinha in 2008 and is based in the United States, with operations in India and Nigeria.
Easy Solar is a leading energy distribution company in West Africa, financing high-quality solar products and appliances for those with limited or no access to the conventional grid. Customers can finance their purchase over time by paying in weekly or monthly installments, with the option to pay via cash or mobile money. To date, Easy Solar has reached more than 400,000 beneficiaries, distributed through its extensive network of agents and outlets throughout Sierra Leone and Liberia.
Private Equity Round in 2020
Sun King (formerly Greenlight Planet) is a solar company that designs, distributes, installs, and finances solar home energy products across Africa and Asia. Sun King produces solar home systems, inverter systems, and portable lanterns providing a solution for communities that live without reliable energy access. Sun King also offers pay-as-you-go financing options further allowing consumers to access energy without high up-front costs. Sun King works with their network of international distribution partners to expand the off-grid market.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
Paymob is a regional digital payments enabler that builds payments infrastructue technologies empowering the underserved with access to financial services. Paymob is bridging the financial inclusion gap in MEA region by enabling businesses of all sizes to benefit from the power of digital payments and what it unlocks. Paymob was founded in 2015 and headquartered in Cairo, Egypt.
Komaza is a tech-driven sustainable forestry company revolutionizing the wood industry in Africa with its farmer platform. It combines technology, training, and service to create a new sustainable wood supply for Africa at an 80% cost disruption over traditional plantations. The company was founded in 2006 by Tevis Howard.
ASOBO is creating a sustainable platform for e-mobility on the water in emerging markets. They provide electric outboard engines that are powered by renewable energy, and currently offered on a full-service basis to the fishermen on Lake Victoria, Kenya. This will allow the fishers to use clean energy, at a lower cost.
Inuka has build a proprietary coaching framework that allows an almost unlimited supply of high-quality, evidence-based coaches at affordable rates. The inuka coaching platform and academy empowers coaches with a proven coaching method (jama,2017), connects them with distressed users and monitors quality and generates insights. First use case and current focus is improving employee wellbeing & mental health for large companies. More extensive information: Inuka is a Netherlands-based international Bcorp certified social enterprise, which by definition means that we go beyond business as usual to drive positive social impact. Our mission is ‘together, everyone resilient’. Through our proven method, we support employees to build their problem-solving skills and increase their resilience. Our offering is a B2B solution that our customers can offer to all their employees. With our roots in research, we lead on evidence-based, digital and data-driven solutions that achieve measurable impact in employee vitality and resilience. The approach is aiming to radically change the well-being field, and has been rewarded with multiple awards, including winning the European finals of the leading HR innovation ‘SHRM better workplaces’ competition . Inuka will be competing in the global finals in June 2023. Inuka offers a first line of support for all employees in diverse organisations such as Tommy Hilfiger Europe (PVH), InShared, Unilever, Flynth accountants and more. The aim is to build a more resilient organisation by providing awareness and 1 on 1 quality coaching, and the data insights to bulid better people strategies. The aim is to reach the 1 in 4 employees who are struggling but typically don’t seek help, as well as those that want to set a plan to achieve more. The end goal isthat all employees can become more engaged, resilient, and in flow and building a more resilient organization Inuka makes effective, top-quality coaching accessible and affordable enough to be offered to everyone in the organisation. In addition, based on the coaching data, Inuka provides deep insights on the root causes of stress within the organisation, so that proactive well-being improvement activity can be focused at both an individual and an organisation level. What makes Inuka special is the deep data insights that are generated that companies have no other way to getting, and that the approach is scientifically validated: 72% of at-risk employees feels resilient again within 4 online sessions (Cambridge global mental health journal 2021, JAMA, 2021). Since the launch in Europe in Q4 2019, Inuka has scanned 35,000+ people and coached 4,000+ people from 20+ cultures, in 12+ languages.
Man really lot's of water
Almacena Platform is a B2B Marketplace for agricultural products that creates traceability and transparency, shortens the supply chain, and bring more value and bargaining power to the origin exporters and end-market buyers.
AgriPlace is an independent platform for digital farm data. Our goal is to enable more transparent and sustainable food value chains with the help of IT. AgriPlace creates smart tools to make certification easy and enables quick data sharing with auditors and buyers. Our goal is to help farmers get compliance with standards easier and at lower costs by standardizing and digitalizing the supply of high-quality farm data.
Innoviti develops payments processing, credit distribution, and payments management software solutions. It offers uniPAY, a unified payment and card management system for retailers; quickEMI, a solution that provides consumers the option of paying for their purchases in installments on their credit cards; pgEMI, a solution that provides consumers the option of paying for their purchases in installments; and fastCollect, an automated collection technology for banks and retailers/online megastores. Innoviti serves markets, such as retail, mobile, lifestyle, entertainment, jewelry, education, cabs, holidays, hotels, restaurants, wellness, healthcare, online, and banks.
Agrocorp Ventures specializes in the distribution and trading of agricultural commodities, serving clients across various regions, including Canada, West Africa, China, Turkey, the Middle East, India, Bangladesh, and Vietnam. The company provides a wide range of products, including grains like wheat, sugar, and various pulses and beans, as well as oilseeds such as soybeans, canola, and sunflower seeds. Agrocorp also deals in cotton, rice, and animal feed, which encompasses items like corn and soybean meal. Additionally, the company offers edible nuts, including cashews and peanuts, alongside non-agricultural commodities like coal, construction materials, and edible oils. Agrocorp's operations include seed procurement and the buying and selling of food products, highlighting its comprehensive involvement in the agricultural supply chain.
Southeast is a fintech company that utilizes data and AI to facilitate growth financing for the underserved SME sector. Validus looks to drive inclusive growth for SMEs and economies in the ASEAN region. Backed by highly reputed VCs, Validus is also present in Indonesia, Vietnam, and Thailand, partnering with Corporations to provide supply chain financing to SME ecosystems. Validus holds a Capital Markets Services Licence from the Monetary Authority of Singapore (MAS), and its Indonesian arm Batumbu received OJK registration in April 2019. For more information, please visit https://validus.sg.
DeHaat is a technology-led platform that offers end-to-end agriculture services to Indian farmers with an aim to improve the efficiencies of the agriculture value chain. DeHaat connects small farmers to their various needs – Seeds, fertilizers, equipment, crop advisory, and market linkage through a wide network of trained micro-entrepreneurs. Registered farmers get access to a wide range of agricultural inputs (Seed, Fertilizer, and Crop protection) directly from competitive sources. Subsequently, they get customized crop reminder calls in the local language as well as crop monitoring support from the same DeHaat micro-entrepreneur. Lastly, they sell the farm produce directly to institutional buyers. Farmers place their various demands related to Agri input, field visits or Agri output either through the toll-free number or mobile application and get last-mile services through assigned micro-entrepreneur.
Innoviti develops payments processing, credit distribution, and payments management software solutions. It offers uniPAY, a unified payment and card management system for retailers; quickEMI, a solution that provides consumers the option of paying for their purchases in installments on their credit cards; pgEMI, a solution that provides consumers the option of paying for their purchases in installments; and fastCollect, an automated collection technology for banks and retailers/online megastores. Innoviti serves markets, such as retail, mobile, lifestyle, entertainment, jewelry, education, cabs, holidays, hotels, restaurants, wellness, healthcare, online, and banks.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
Xac Bank is the fourth largest bank in Mongolia with a loan portfolio of 395M USD, serving 298,000 borrowers and savers clients and deriving a yearly ROE of 22%. Xac Bank has demonstrated its ability to adapt to a fast growing and fast changing economic environment in Mongolia, on the back of a booming mining industry, and has re-focused its operations away from microfinance to SME, consumer lending and mortgages. In order to manage the associated risk, the bank has heavily invested in systems and human capabilities in order to serve the increasing need of underserved SMEs and urban as well as rural population. Xac Bank has also built an in-house mobile platform currently under upgrade in order to better serve the needs of its customers. Xac Bank is actively involved in deploying government and developmental funds to provide easier access to low cost housing and environment friendly energy to the lower layers of the Mongolian population. Finally, Xac bank is constantly providing non-financial services to the community under the form of financial literacy programs and business support to its lowest income customers via association with NGOs.
Liwwa connects small businesses in need of capital with people who want to invest in them. The company’s peer-to-peer lease-to-own model addresses the capital access and interest-free investor return opportunities. Liwwa conducts in-house reviews of a small business's creditability and enables them to pay a monthly fee to investors. Founded in 2013, Liwwa raised seed funding with DASH Ventures, al Etihad, and MENA Venture Investments, which it plans to use to hire several new team members, including an underwriting team and to support a new product offering.
Aye Finance is a finance company that provides business loans to micro and small businesses. The company's mission is to provide customer-centered financial services to micro and small businesses through technology and robust processes. It works with relevant technology to facilitate better financial inclusion and consequently serve micro-enterprises.
Waycool is an agri-tech company that processes, distributes, and procures fresh produce, dairy products, and staples. The company helps increase farmers’ income, through innovative quality management and food safety technology. It leverages technology and innovation to improve logistics and distribution services. Waycool distributes farm-sourced fruits, vegetables, and other produce to local shops and modern retail outlets. They have a retail presence, currently in Chennai, through the brand SunnyBee, operating retail stores, mobile stores on trucks, and e-commerce. In addition, there are a number of high-quality private label products that SunnyBee produces and brands through partnerships with sister companies. WayCool establishes direct links to farmers and consumers using physical and information technology to link them efficiently.
Lakeside Energy is a renewable energy company sponsored by Pakistan's Naveena Exports.
Xac Bank is the fourth largest bank in Mongolia with a loan portfolio of 395M USD, serving 298,000 borrowers and savers clients and deriving a yearly ROE of 22%. Xac Bank has demonstrated its ability to adapt to a fast growing and fast changing economic environment in Mongolia, on the back of a booming mining industry, and has re-focused its operations away from microfinance to SME, consumer lending and mortgages. In order to manage the associated risk, the bank has heavily invested in systems and human capabilities in order to serve the increasing need of underserved SMEs and urban as well as rural population. Xac Bank has also built an in-house mobile platform currently under upgrade in order to better serve the needs of its customers. Xac Bank is actively involved in deploying government and developmental funds to provide easier access to low cost housing and environment friendly energy to the lower layers of the Mongolian population. Finally, Xac bank is constantly providing non-financial services to the community under the form of financial literacy programs and business support to its lowest income customers via association with NGOs.
CreditAccess Grameen provides micro financial products and services for women from rural poor and low income households in India. It offers microcredit loans for income generation, family welfare, emergency, and home improvement, as well as micro insurance services covering life insurance, health insurance, and national pension scheme. CreditAccess Grameen also provides non-financial services, such as enterprise development, financial literacy promotion, basic health/nutrition education, basic medical services, special medical services for women and children, and training for women and women's rights/gender issues education.
Discover the developmental world of SolarCreed and shop everything from Chicken Friendly Solar Lights, Sunshine Splash Solar Pump, Street Friendly Street Lights and more innovative products to transform our farming communities in Africa'
AGIMDC invests in start ups, transforming NBFCs and mature MFIs. AGIMDC was sponsored by the Dutch fund Goodwell Microfinance Development Company. AGIMDCâ€:tm:s investment managers have extensive experience in private equity and microfinance.
Private Equity Round in 2019
Sahyadri Farms is a integrated fruits and vegetables value chain. Sahyadri Farms is an initiative fully led and managed by farmers who have complete understanding of the problems faced by small-landholding farmers. Sahyadri Farms was established on January 11, 2011 by Shitij Agrawaal in Nasik, Maharashtra.
Srei Equipment Finance Ltd. (SEFL) is one of the leading financiers in the Construction, Mining and allied Equipment (“CME”) sector in India, with approximately 33% market share in Fiscal 2018 and a pan-India presence across 21 states with over 90 offices.
ftcash is one of India’s fast-growing financial technology venture, recognized by Forbes, which aims to empower micro-merchants and small businesses with the power of credit using digital payments, using only a bank account and a feature phone. ftcash uses its proprietary algorithm to understand the credit-worthiness using their transaction flow data on the ftcash payments platform along with several other data points including psychometric analysis, which can be leveraged to provide these SMEs institutional finance and recollect the money from their daily transactions. ftcash works with Banks and Financial Institutions to deploy its solution for all their SMEs. After a successful launch in India in 2015, ftcash is expanding globally. ftcash is being supported by PayPal and MasterCard to enable merchant services globally.
InCred is a financial services platform that leverages technology and data-science to make lending quick and easy. It uses technology and data-science to make lending quick, simple and hassle-free. InCred offers a broad portfolio of products that cuts across affordable home loans, personal loans, education loans and SME business loans.
Avaada is a renewable energy company that develops and operates solar and wind power projects. Their unique strategy interweaves business goals with environmental sustainability and social responsibility, producing mutually beneficial results. By contributing to the community’s socio-economic development in the short term, they foresee the delivery of continual value to their shareholders. Through their community engagement initiatives, they are contributing to uplift the lifestyle of the communities they work with.
dopay provides a cloud-based payroll service that allows employers to calculate salaries and make payments electronically. Worldwide there are 2 billion people that have jobs but no bank account. Companies feel this acutely. Since both their employees and their customers are unbanked, they have to manage huge amounts of cash. DoPay breaks this cash cycle by offering a payroll and cash management service for companies. Employees receive a DoPay card and DoPay app, which give them a full banking experience. They are already working in partnership with Barclays to provide payroll services to several multinationals, embassies and local companies in Egypt and aim to expand into the largest unbanked regions of the world.
Access Bank provides banking products and services to individual and business customers in Ghana. It offers standard savings and current, access advantage, solo, and premier accounts. The company also provides online banking services that include ATM, online access, and point-of-sale terminal services; and bills payment and Western Union money transfer services.
Validus Capital Pte. Ltd. operates an online lending marketplace that connects small and medium-sized enterprises (SMEs) with accredited and institutional investors. Founded in 2015 and based in Singapore, Validus is the largest SME financing platform in the country, focusing on providing short-term and medium-term financing to underserved SMEs. The platform facilitates early approval for loans, offers competitive interest rates, and allows for revenue growth. Investors benefit from a range of options without onboarding fees and can minimize risk through fractionalization and portfolio management. Validus employs data analytics and artificial intelligence to enhance its services and aims to promote inclusive growth for SMEs across the ASEAN region, with operations also in Indonesia, Vietnam, and Thailand. The company is regulated by the Monetary Authority of Singapore and has received necessary registrations in its regional markets.
Tata Capital is a non-banking financial company offering financial products and services to retail, corporate, and institutional customers. The company operates as a subsidiary of Tata Sons Limited, the principal holding company of the Tata Group. Tata Capital is committed to providing customer-centric financial solutions with a strong focus on trust, transparency, and ethical practices.
D.light is a solar home lighting and power product developer. The company's solar goods, which include lights, radios, televisions, fans, and other home appliances, are rechargeable solar kits, allowing rural and semi-urban people to access solar-powered lighting and appliances. Their products are designed to improve health, increase productivity, and enhance the quality of life for users.
Satin Creditcare Network provides financial assistance to households, excluded from the ambit of mainstream financial service providers. The company offers financial products in the Non-MFI segment, a housing finance subsidiary, and business correspondent services, and similar services to other financial Institutions through Taraashna Services Limited, a business correspondent company and a subsidiary of Satin Creditcare Network. The company also incorporated a housing finance subsidiary which is Satin Housing Finance Limited or SHFL for providing loans to the affordable housing segment. This extension is to provide financial products that cater to the undeserved segments of the market. The company's operations is based on the Joint Liability Group model, which enables people to deliver collateral-free, microcredit facilities to economically active women in rural and semi-urban areas, who have limited access to mainstream financial service providers. It also offers loans to individual businesses and MSMEs, product financing for the purchase of solar lamps, as well as loans for the development of water connections, and sanitation facilities. Satin Creditcare Network focuses on rural and semi-urban areas, securing that its services reach those regions that usually face low or at best, moderate rates of penetration by other microfinance institutions. Satin Creditcare Network was founded in 1990 and is headquartered in Gurugram, Haryana, India.
ZOLA Electric designs renewable energy solutions based on the latest in solar, battery and power electronics technology. Adaptable to energy need and income, ZOLA Electric’s solar systems can be bought over time using PAYGo micro-finance leasing and mobile money payments. ZOLA Electric powers more than 180,000 homes and businesses across Tanzania, Rwanda, Côte d’Ivoire and Ghana. Investors include Tesla, Vulcan Capital, DBL Partners, Helios Investment Partners, EDF, Total and GE Ventures. ZOLA Electric is a recipient of the UN Momentum for Change Award, the Zayed Future Energy Prize and is a member of the Global Cleantech 100.
Yoco is an African technology company. We create opportunities for entrepreneurs and small businesses to get paid, run and grow their business through a single platform. Our growing product ecosystem includes payments (offline and online), lending and business software. Today Yoco processes US$ billions annually for over 300,000 small businesses.
Ignite Holding Company Inc. was a technology startup that provided prepaid solar power in off-grid communities in Guatemala and Colombia under the Kingo tradename. Ignite was acquired in 2022 by Kingo Holding Company, Inc.
Lendable provides debt financing to fintechs in emerging and frontier markets. They are passionate about making impact investing a competitive asset class. They build technology and financial products to bring finance to one hundred million borrowers that deserve it.
Lendable is a lending platform. When you borrow money, it comes straight from an investor. Unlike banks, who hand out loans from piles of cash they look after on behalf of savers. Their platform is super-fast (you’ll see in a moment), and makes lending as hassle- free as possible. It’s a matter of a few clicks and you get your quote. Unlike banks, who require paperwork and run expensive branch networks.
Apollo Agriculture is an agtech company that offers farmers access to agricultural inputs, financing, and advice. Apollo helps farmers in emerging markets maximize their profits. The company uses agronomic machine learning, remote sensing, and mobile phones to deliver a customized package of credit, high-quality farm inputs, and advice that can double farm yields, starting in Kenya. Apollo assesses farmer credit risk and customizes each package to a farmer's specific location using satellite data, soil data, farmer behavior data, and crop yield models.
AzurePower offers clean and affordable solar energy to its customers without having them to pay for the high asset or operation costs upfront. AzurePower delivers most optimal solar energy by assuming all responsibilities and complexities for owning, building, and operating the power-generation, while the customers enjoy all the economic and marketing benefits of renewable power.
Liwwa connects small businesses in need of capital with people who want to invest in them. The company’s peer-to-peer lease-to-own model addresses the capital access and interest-free investor return opportunities. Liwwa conducts in-house reviews of a small business's creditability and enables them to pay a monthly fee to investors. Founded in 2013, Liwwa raised seed funding with DASH Ventures, al Etihad, and MENA Venture Investments, which it plans to use to hire several new team members, including an underwriting team and to support a new product offering.
JCM Power is a Canadian-based renewable energy company that develops and operates renewable energy projects in growth markets. JCM leverages its development expertise acquired through five years of development experience in Canada and over 70 projects, to emerging markets where the demand for renewable energy solutions is high and the level of experience with renewable energy is low.JCM is currently developing a multi-billion dollar clean power portfolio that includes both utility-sized solar photovoltaic projects and HVDC transmission projects.
Orb Energy provides affordable and renewable energy for off-grid households in India through solar home systems. The company prices its systems at USD 4 per month and reaches low-income customers through its strong retail distribution network. With 90 branches currently in operation, Orb plans to double its branches and employees in the next two years, reaching 250,000 people.
Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers. As of March 31, 2020, the company operated 43 utility scale projects and various commercial rooftop projects with a combined rated capacity of 1,808 MW. Azure Power Global Limited was founded in 2008 and is based in New Delhi, India.
M-KOPA provides connected asset financing solutions for underbanked customers. Its platform combines digital micropayments and IoT connectivity to offer access to products including solar lighting, televisions, fridges, smartphones, financial services, and more.
Ignite Holding Company Inc. was a technology startup that provided prepaid solar power in off-grid communities in Guatemala and Colombia under the Kingo tradename. Ignite was acquired in 2022 by Kingo Holding Company, Inc.
Babban Gona inspires and enables hardworking smallholder farmers reach their full potential by providing a private sector channel for cost effective delivery of enhanced agricultural technologies and end-to-end services that optimize yields and labor productivity, while simultaneously improving market access.
ContourGlobal is an international power generation company that develops, acquires, operates, and manages wholesale electric power generation assets. Established in 2005 and headquartered in London, the company operates a diverse portfolio of approximately 4,841 megawatts across 107 thermal and renewable energy power plants in 18 countries on three continents. Its Renewable Energy Segment generates electricity using hydro, solar, wind, and biogas, contributing 1,808 megawatts, while the Thermal Energy Segment relies on gas, coal, and oil to produce 2,509 megawatts. With a workforce of around 2,000 employees, ContourGlobal aims to create economic and social value through sustainable power generation, focusing on long-term contracts and a diversified approach to fuel sources and geographical presence.
Mobisol is a young Berlin start-up founded in 2010. They provide an alternative to fossil fuel sources for low-income customers living without access to electricity, combining solar energy and a suitable repayment scheme with mobile banking.
Private Equity Round in 2016
Grupo Los Grobo is a leading agribusiness and investment company both in Brazil and the whole of Latin America in terms of the production and commercialization of agricultural commodities. They offer a broad, integrated and diversified business platform that covers agricultural land development, services that go from input provision to technical and financial assistance for small producers, as well as our own farming activities, wheat processing and commodities industrialization.
Ignite Holding Company Inc. was a technology startup that provided prepaid solar power in off-grid communities in Guatemala and Colombia under the Kingo tradename. Ignite was acquired in 2022 by Kingo Holding Company, Inc.
Ecobank Transnational Incorporated (ETI), a public limited liability company under a private sector initiative spearheaded by the Federation of West African Chambers of Commerce and Industry with the support of the Economic Community of West African States (ECOWAS). In the early 1980’s foreign and state-owned banks dominated the banking industry in West Africa. Commercial banks in West Africa owned and managed by the African private sector were a rarity. Its founders created ETI with the objective of filling this vacuum. The Federation of West African Chambers of Commerce promoted and initiated a project to create a private, regional banking institution in West Africa. In 1984, Ecopromotions S.A. was incorporated. Its founding shareholders raised seed capital for feasibility studies and the promotional activities leading to the creation of ETI. In October 1985, ETI was incorporated with authorised capital of US$100 million. The initial paid up capital of US$32 million was raised from over 1,500 individuals and institutions from West African countries. The largest shareholder was the ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund), the development finance arm of ECOWAS. Ecobank signed a Headquarters’ Agreement with the Government of Togo in 1985, which granted it the status of an international organisation. This status came with the rights and privileges necessary for ETI to operate as a regional institution, including the status of a non-resident financial institution. ETI commenced operations with its first subsidiary in Togo in March 1988.
Private Equity Round in 2015
Reliance Capital Management is an integrated financial services company, provides financial service products in Indonesia. It offers equities, underwriting, fixed income, asset management, and general and health insurance products. The company provides securities brokerage services in equity and fixed income markets; property, motor vehicle, cargo, engineering, and miscellaneous insurance products; hospitalization, outpatient, dental care, maternity care, and glasses insurance products; and health insurance support services.
Equitas Holding Ltd is an India-based company operating in the business segment of Core investment operations. It is engaged in investing in and providing loans to group companies. The group derives revenue from Interest income, Rental income, Profit on sale of an investment, Revenue from contracts with customers, Net gain on fair value changes and guarantee income, of which a majority of revenue is earned from the interest income. Its subsidiaries are involved in carrying the business of small finance banks and freight aggregation. Geographically, the group operates in India.
Private Equity Round in 2012
Biofarma operates as a pharmaceutical manufacturer. Biofarma manufactures medicinal products made of donated human blood, recombinant preparations and drugs based on spore-forming bacteria.
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.
Private Equity Round in 2010
Family Bank is a fully-fledged commercial bank since May 2007. The Bank is regulated by the Central Bank of Kenya (CBK) and is a member of the Kenya Deposit Insurance Corporation. The Bank is growing with over 1.7 million customers and a network of 93 branches countrywide. It was the first Bank in Kenya to introduce paperless banking through smart card technology.
Ram Power, Corp., a renewable energy company, engages in the acquisition, exploration, development, and operation of geothermal properties in the United States, Canada, and internationally. It owns interests in geothermal projects primarily in California, Nicaragua, and Nevada. The company, formerly known as GTO Resources Inc., based in Reno, Nevada.