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Press Release: Citi Launches $150 Million Impact Investing Fund
This is the largest fund of its kind to be launched by a bank using its own capital. Investments, which could be as high as $10 million, will primarily be made in companies that have demonstrated proof of concept, built an existing customer base, secured prior rounds of funding and exhibited the potential for scale in multiple markets. A portion of the fund is designated for earlier stage seed investments.
- Categories
- Entrepreneurship, Finance, Investing
- Region
- North America
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Brazil’s Unicorn FinTech EBANX Pilots Digital Wallet
Founded in 2012, EBANX originally processed payments for Brazilian clients of global websites and recently expanded to offer services to Brazilian eCommerce platforms.
- Categories
- Finance
- Region
- Latin America
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2020 Will See Mass Market Adoption of Financial Inclusion. Here’s Why.
For many years financial inclusion has been considered a social initiative, part of corporations’ “doing good” role. But according to Josh Gosliner at Juvo, it’s becoming clear that there has to be a bottom-line incentive for companies to direct the necessary resources to the problem. He explores three trends, powered by the emergence of digital technology and big data, that promise to generate transformative business opportunities in financial inclusion in the coming year.
- Categories
- Finance
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Cash Is Dying, and the Unbanked Are Being Left Behind
A report by the Boston Consulting Group identified five main barriers to cashless payment systems: high cost of electronic payments to retailers, lack of solutions for the customer, lack of governmental support, insufficient trust in digital payments, and an absence of support infrastructure. And those reasons make sense.
- Categories
- Finance
- Region
- North America
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Gates Foundation Mobile Money Projects in Developing World to Go Live This Year
Kosta Peric, deputy director of financial services for the poor at the Bill & Melinda Gates Foundation, said projects in Pakistan, Tanzania and eight West African countries could go live as early as the middle of this year.
- Categories
- Finance
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Jeff App, the ‘Tinder for Loans’, Raises €150k to Boost Financial Inclusion in Southeast Asia
Latvian fintech startup Jeff App has raised €150K to further evolve its “Tinder for loans” solution in the Vietnamese market, as well as expand to Indonesia later in 2020. A number of European business angels participated in the Jeff App pre-seed round, the very first company’s funding round to date.
- Categories
- Finance
- Region
- Asia Pacific
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Authors of New York’s P2P ‘Public Venmo’ Bill Hope for Greater Decentralization
Published on Oct. 17, 2019, the white paper sets out the Inclusive Value Ledger (IVL) plan, which aims to bolster the mechanisms of the state’s monetization, production, saving and spending with the help of new digital technologies.
- Categories
- Finance
- Region
- North America
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AI Can Do a Lot for Financial Services Penetration in the Hinterlands in India
The departure from a ‘brick-and-mortar’ structure to branchless banking (agent & mobile) can be attributed to ICT adoption by users. This has led to a structural and technical reform in the financial services landscape in the last decade.
- Categories
- Finance, Technology
- Region
- South Asia
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