India

Waycool

WayCool is one of India's largest and fastest growing agri-food companies, processing, distributing, and supplying dairy and fresh produce staples. WayCool leverages innovative technology to manage the complex agricultural supply chain. Through the Outgrow program, it aims to implement food waste reduction techniques that would increase farmers' incomes by more than 10%.

Investment Date: Dec-21

Peru

Edpyme Alternativa

Alternativa's origins date back to 1992 from a project launched by the Chamber of Commerce of Lambayeque and the Inter-American Development Bank to boost the development of micro and small enterprises. Edpyme Alternativa has focused on building a strong rural presence, aiming to provide formal financing solutions to unbanked communities in remote areas of Northern Peru.

Investment Date: Oct-21

Ecuador

FACES

The Foundation for Community and Social Support of Ecuador (known for its Spanish Acronym FACES) is one of the largest microfinance institutions (NGOs) in Ecuador, created in 1991, with the mission of contributing to fight poverty and unemployment in Ecuador by supporting microentrepreneurs with financial and technical resources. 
They are currently serving 19,546 microentrepreneurs in 18 branches and over 50% of the outstanding loans in the portfolio are related to agricultural activities.

Investment Date: Dec-20

India

ASA INDIA

ASA India is part of the microfinance group ASA International, which developed the renowned "ASA methodology“, which has been replicated by other microfinance providers worldwide. ASA focuses on women, to whom it grants individual loans in a group format, without the collective responsibility typically acquired in group loans. It holds a strong social vocation, developing relevant welfare work in addition to its credit operations.

Investment Date: Aug-19

India

KANAKADURGA (KFL)

Founded in 1994 in India, and still run by the promoter family, KFL is a regulated, professionalized and qualified NBFC that offers productive vehicle financing. KFL has identified a segment of excluded customers in the vehicle financing industry, with strong potential for impact and socio-economic development, and expectation of business volume expansion.

Investment Date: Apr-21; Aug-19

India

KINARA CAPITAL

Founded in 2011, Kinara Capital is an Indian NBFC serving the "missing middle" MSME sector - a key motor of socioeconomic development at the base of the pyramid. MSMEs are often unable to access the funding offered by micro-finance or commercial lending institutions. Kinara has a unique focus, offering loans via a customised approach and without the need for collateral.

Investment Date: Mar-19; Oct-17

Panama

MICROSERFIN

As a NBMFI, Microserfin offers productive microcredits to Panama’s most vulnerable part of the population. Since 2011, it is part of the BBVA Microfinance Foundation, one of the main microfinance groups operating in Latin-America. Microserfin is known for its strong national network, covering rural areas that are difficult to access for competitors. 

Investment Date: Dec-21; May-17

Ecuador

BANCO D-MIRO

Banco D-MIRO is the only bank in Ecuador focused on microfinance - it provides individual loans and savings to low income clients. It was founded as Mission Alliance's (Norwegian NGO) microfinance program in Ecuador and has been operating as a bank since 2011. In accordance with its mission to serve the poor, D-MIRO has a very strong social focus. 

Investment Date: Jul-15

Colombia

CREZCAMOS

Crezcamos is a leading MFI focused on rural, underpenetrated areas in northern Colombia. Crezcamos started as a non-profit microfinance program and was transformed in 2008 to a limited liability company. Crezcamos supports entrepreneurial families in primarily rural areas with transparent financial and insurance services.

Investment Date: Mar-14

Georgia

CREDO

LLC Micro Finance Organization Credo is a leading microfinance institution operating in Georgia. Founded in 1997, it is part of the World Vision network. Credo’s mission is providing sustainable financial services to the entrepreneurial poor in addition to Georgian micro and small businesses, with a preference for rural activities and those businesses that create income and employment opportunities for the poor. 

Investment Date: May-12

Mexico

CAMESA

CAMESA (“Consejo de Asistencia al Microemprendedor”) is a regulated financial institution that has the license to mobilise deposits. It exists in Mexico since 1993 with a mission to encourage savings, entrepreneurial activities and provide credit to impoverished people in order to improve their financial situation. It is supervised by the Comisión Nacional Bancaria y de Valores de Mexico (CNBV).

Investment Date: Jun-11

Panama

CFE

Centro Financiero Empresarial (CFE) is one of the most inclusive MFIs in Panama, providing financial products to MSMEs and entrepreneurs at the base of the economic pyramid, the “missing middle”, in a country with a very fragmentated and underpenetrated microfinance market. CFE was founded in 2009 and has identified agricultural financing as the key to effectively fulfilling underserved farmers’ needs.

Investment Date: Dec-21; Nov-21

Bolivia

Crecer IFD

Crecer is a Bolivian IFD (Development Finance Institution) with more than 20 years of experience, focused on offering financial products to improve the quality of life of women and their families. It is the second largest institution in Bolivia by number of clients and serves the poorest areas. It also offers free trainings in financial education, technology, and cervical cancer prevention. In 2021, Crecer will begin to offer savings products and short-term deposits.

Investment Date: Sep-21

Chile

FONDO ESPERANZA

Fondo Esperanza (FE), integrated in the MF BBVA network and sustained on the solidarity spirit of Hogar de Cristo, offers productive microcredit to the most vulnerable Chilean communities. FE is committed to a human development model based on comprehensive microfinance services. It combines economic growth through access to financing, with the expansion of opportunities and capacities through education and networks, which, together, foster human capital, generating social development.

Investment Date: Dec-21; Dec-19

India

AYE FINANCE

Founded in 2014, Aye Finance grants loans to micro & small enterprises (MSMEs) in India. This sector, known as the missing middle, represents a key component of the economy and faces significant difficulties in obtaining financing. Aye's founding partners identified MSMEs' lack of documentation as the main handicap when assessing their repayment capacity and have thus developed a unique cluster-based credit assessment methodology, building up extensive knowledge of MSME profiles in different sectors.

Investment Date: Aug-19

Ecuador

INSOTEC

Insotec began its microfinance activity in the 1990s in Ecuador. It developed an individual methodology with rural agricultural focus in low-income communities with limited financial penetration. The company has become the benchmark lender of small producers, to whom it also provides technical advisory / assistance and training. 

Investment Date: Dec-20; Jul-19

Chile

EMPRENDE

Emprende MF grants productive microcredits to the most vulnerable segment of the Chilean population, via an individual loan methodology. It is a leader in the agricultural-lending microfinance sector. The institution has been part of the BBVA Microfinance Foundation since 2009, which is one of the main microfinance groups operating in Latin America.

Investment Date: Apr-21; Oct-18;

Oct-16

Nicaragua

FINANCIERA FONDO DE DESARROLLO LOCAL (FDL)

FDL is the main MFI in rural Nicaragua, with major market penetration in this area, along with presence in urban zones. It was established in 1992 by the Nitlapan Research and Development Institute of the Centro-American University (a prestigious Jesuit University). FDL is the leading microfinance provider in Nicaragua, apart from banks offering microcredits. 

Investment Date: Feb-17

Sri Lanka

LOMC SRI LANKA

LOMC provides micro-leasing and group loans to micro-entrepreneurs in Sri Lanka’s rural districts to finance the purchase of basic agriculture machinery. It has extensive reach into the rural areas and the necessary infrastructure from its parent company Lanka Orix Leasing Company (LOLC). It started as an initiative of LOLC, FMO (Netherland's Development Bank) and the Sri Lankan government.

Investment Date: Jul-15; Mar-12

Germany

PROCREDIT

Founded in 1998, ProCredit is a Holding Company based in Frankfurt (Germany) controlling 12 fully fledged MSME banks and one non-bank financial institution in 13 developing countries. The ProCredit group aims to achieve high development impact by helping to create transparent and inclusive financial sectors in developing countries.

Investment Date: Jul-12

Colombia

CONTACTAR

“Nariño, Empresa y futuro – CONTACTAR” was founded in Colombia in 1991 as an NGO, with the objective of supporting microentrepreneurs by commercializing their products and providing training and technical assistance. Contactar is highly focused on rural development and has been internationally recognized for its efforts to bring services and financial literacy education to the most remote areas.

Investment Date: Oct-11

Bolivia

Promujer

Pro Mujer Bolivia, as part of the ProMujer microfinance network, has been serving low-income, self-employed women all over the country for more than 30 years. Pro Mujer mainly offers community lending products, supporting and empowering women with small loans, while providing health and education services.

Investment Date: Oct-21

Peru

COOPAC Norandino

COOPAC Norandino is a regulated savings & credit cooperative, present in the North of Peru. Norandino was founded in 2005 under the initiative of 24 organized farmers from the coffee segment and 3 coffee cooperatives, under the motto “For farmers, by farmers”, which it continues to adhere to today. Norandino primarily serves smallholder farmers and agricultural cooperatives, offering several tailor-made credit and savings products.

Investment Date: Apr-21

Philippines

ONEPUHUNAN

OnePuhunan started operations in the Philippines in 2014, with the aim of meeting the needs of micro-entrepreneurs who were not being catered for by traditional microfinance companies. Its offer is simple: a single product, very easy to understand and very transparent for women with small businesses, following the group methodology but with individual responsibility.

Investment Date: Mar-21; Aug-19

India

VARTHANA

Since 2013, Varthana offers financing to an emerging MSME market of affordable private schools, driven by the social impact of serving the low-income Indian population and covering the shortfall in quality education that is available to these communities. In only 5 years, it has become a leading player in the education financing market, with a diversified portfolio in 14 regions.

Investment Date: Dec-21; Aug-19

Myanmar

LOLC MYANMAR

Part of the renowned LOLC Group, LOLC Myanmar is one of the leading microfinance institutions in Myanmar, lending to groups of women in underpenetrated rural and urban areas. Since its launch in 2013, the company has consolidated its position in the highly competitive Myanmar market and is currently considered to be among the top 10 MFI’s in Myanmar.

Investment Date: Nov-20; Apr-19; Dec-17

Peru

ACCESO CREDITICIO

Acceso Crediticio, integrated in the holding Acceso Corp, has developed a unique business model in the niche microfinance market for natural gas vehicles (NGV) in Peru, focusing particularly on the trade of taxis. It offers a complete range of services to taxi drivers, including working capital for purchase, voluntary insurance, discounts for fuel and special prices for repairs.

Investment Date: Jul-19; Jun-17

India

FUSION MICROFINANCE

Fusion Microfinance is a registered NBFC – MFI which operates in a Joint Liability Group lending model in India. Their focus is reaching out to the unbanked and providing loans to women entrepreneurs belonging to economically and socially deprived sections of the society. Fusion also teaches its clients to manage their financials by disseminating Financial Literacy to them.

Investment Date: Aug-16

India

JANA SFB

Janalakshmi Financial Services (JFS) started in 2009 in India offering a full range of financial inclusion products including micro-loans, small enterprise loans, micro-pensions, and savings. In August 2015 it was granted a banking license by the Reserve Bank of India. Its promoter is Jana Urban Foundation which is focused on alleviating urban poverty. 

Investment Date: Nov-14; Jul-12

Azerbaijan

AZERCREDIT

AzerCredit is one of the leading microfinance institutions of the Republic of Azerbaijan, which operates mostly in the agricultural sector using both the individual and group solidarity methodologies. It was founded in 1996 by the international network Visionfund, the microfinance arm of US NGO World Vision. The mission of AzerCredit is to provide financial inclusion to rural and poor populations.

Investment Date: May-12

Ghana

SINAPI ABA

Sinapi Aba Trust (now Sinapi Aba Savings & Loans) is a non-profit, Christian organization founded in 1994 to support the poorest of the economically active poor in Ghana, mainly in rural areas. Sinapi offered both group and individual loans and, in 2013, was transformed into a Savings and Loans Institution (supervised by the Bank of Ghana) and allowed to offer savings products. 

Investment Date: Aug-11