Press release: Deetken Impact makes landmark investment in Pro Mujer Mexico to scale its services for women
Wednesday, May 23, 2018
Pro Mujer, a mission-driven social enterprise focused on empowering women and their families in Latin America, announced today that its subsidiary, Pro Mujer Mexico SOFOM (Sociedad Financiera de Objeto Múltiple), has received $1 million USD in exchange for its issuance of preferred shares to Deetken Impact, a Canadian-based boutique asset management firm.
As part of the investment, Deetken received preferred shares in Pro Mujer Mexico SOFOM, the Mexican subsidiary of Pro Mujer that provides financial services. Deetken’s investment represents the first ever third-party equity transaction for Pro Mujer. Moreover, the issuance of preferred shares is an important signal as it comes after a tumultuous year in Mexico. It will allow Pro Mujer Mexico to continue to grow over the coming years as it can leverage this investment with additional debt. Pro Mujer believes Mexico is a critical country and that Deetken’s investment will spur new growth opportunities in the region, helping Pro Mujer build its “one stop shop for women’s empowerment.”
“We continue to be impressed at the strides Pro Mujer is making in the Mexican market, which is a challenging one for microfinance,” says Alexa Blain, Chief Operating Officer at Deetken Impact. “Our investment was structured to provide Pro Mujer Mexico with a solid platform to scale up the important financial, educational and health services they offer to women across Mexico.”
Pro Mujer and Deetken Impact have been working together on multiple fronts for over five years, and are looking forward to advancing their relationship even further with this investment. “We are happy to announce this landmark investment for Pro Mujer Mexico. In addition, we are thrilled to deepen our already existing relationship with Deetken and expect this to be the start of many impactful collaborations,” says Pro Mujer Chief Financial Officer, Raul Espejel.
Photo courtesy of PresidenciaRD.