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Micro-Lending Startup Ftcash Raises $7.23 Mn Series A Funding
Founded in 2015 by Sanjeev Chandak, Deepak Kothari and Vaibhav Lodha, Ftcash provides short-term loans to merchants. The startup plans to use the funds to accelerate product development and drive its expansion efforts.
- Categories
- Finance
- Region
- South Asia
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Does Greater Inclusion Lead to Financial Health? New Research Raises Pointed Questions for the Industry
Does financial inclusion really lead to financial health? The industry has largely been operating under the assumption that the answer is "yes" - but a new Gallup survey of more than 15,000 people in 10 very different countries reveals a more complex picture. Sonja Kelly and Evelyn Stark explore the results of this "unprecedented look at personal finance and how people perceive their situation," in a discussion that raises vital questions about the future direction of financial inclusion.
- Categories
- Finance
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Beyond Inclusion: How Mission-Based Small Business Lenders are Evolving Their Definition of Impact
While microfinance institutions have grown rapidly around the globe, so too has economic inequality in developed countries. More than two decades ago, Accion in the U.S. and Opportunity Fund responded by adapting their microlending model from low-income markets to the United States. Gina Harman and Luz Urrutia, the respective CEOs of those two organizations, share new research on small loans have impacted revenues and profits for borrowing entrepreneurs, most of whom lacked the financing and resources they needed to start or grow their businesses.
- Categories
- Entrepreneurship
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India’s RBL Bank Completes Ownership of Microfinance Institution (MFI) Swadhaar Finserve with Equity Purchases from Accion, Individual Investors
For an undisclosed prices, RBL bought a 36-percent stake from US-based NGO Accion and a total of 4 percent from a group of unidentified individual investors.
- Region
- South Asia
- Tags
- Accion, banking, financial services, microfinance, MSMEs, SMEs
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Press release: New Report: Banks Increasingly Embrace Data to Reach Underserved Customers
The Center for Financial Inclusion at Accion (CFI) and the Institute of International Finance (IIF), with the support of MetLife Foundation, released a report that examines how new types of data and new data tools present an unprecedented opportunity for financial service providers to understand and serve clients—particularly credit-seeking, "thin-file" clients who are otherwise excluded from the formal financial sector.
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The ‘Start Small, Stay Small’ Dilemma: How Nonprofit/Private Partnerships Can Boost Women-Owned Businesses
Women-owned businesses tend to start small and stay small, in part due to challenges accessing credit. They're also more likely to be discouraged from applying for financing for fear of being declined. Gina Harman, CEO of Accion's U.S. Network, and Andrea Jung, CEO of Grameen America, explain how their organizations are serving these entrepreneurs – and highlight some important ways this work can be expanded.
- Categories
- Entrepreneurship
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“Impact” versus “returns-driven” investing in Africa
2017 was the best year on record for African tech startups in funding terms, with 159 companies from across the continent securing a combined total of US$195 million.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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The ‘Strange Bedfellows’ Myth: How Fintechs and Financial Institutions Can Partner for Mutual Benefit – And Greater Financial Inclusion
The classic tech-meets-tradition narrative often portrays fintechs and established financial institutions as natural adversaries. But research from the Center for Financial Inclusion (CFI) and the Institute of International Finance found quite the opposite to be true. CFI's Sonja E. Kelly explores the report's findings, which detail the surprising scope for collaboration among these players – and the potential impact on low-income customers.
- Categories
- Finance, Impact Assessment
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