[ad_1]
New York, 18 October 2022 — Girls’s World Banking Capital Companions II (WWBCP II) has introduced an funding in Latin American fintech firm Tienda Pago, representing WWBCP II’s ninth funding up to now. WWBCP II seeks to shut the gender hole in monetary inclusion, whereas demonstrating the enterprise case for gender lens investing by reaching enticing returns for its traders.
Small companies are basic drivers of financial improvement in Latin America and signify the overwhelming majority of companies and employment within the area. Nevertheless, they lack entry to funding, with knowledge exhibiting that Micro, Small and Medium Enterprises (MSMEs) obtain solely 12% of whole formal credit score within the area. Tienda Pago helps to bridge this hole by offering small enterprise homeowners with working capital through short-term stock financing on its digital platform. The corporate, which operates in Peru and Mexico, works with product distributors to supply seamless, cashless transactions that profit not simply store homeowners, however suppliers as properly, offering worth at each ends of the availability chain.
Tienda Pago’s companies had been of explicit significance in the course of the COVID-19 pandemic, as small retailers disproportionately confronted the challenges of lockdowns and supply-chain disruptions. Throughout this time, the corporate’s shoppers had been capable of proceed stocking their inventories at the same time as gross sales slowed, and households stayed in enterprise regardless of the short-term shocks.
Leveraging Girls’s World Banking’s proprietary, data-driven organizational and market gender assessments, Tienda Pago will establish alternatives to extend publicity to potential feminine prospects, in addition to appeal to and retain feminine candidates for employment. WWBCP II will work to make sure gender parity is a precedence in staffing selections, significantly in underrepresented know-how positions. The funding may even improve WWBCP II’s publicity to the historically underserved market of women-owned MSMEs.
“Small enterprise homeowners are the cornerstone of financial improvement, and entrepreneurship is a crucial piece of the worldwide technique to extend ladies’s monetary inclusion,” stated CJ Juhasz, Chief Funding Officer at Girls’s World Banking Asset Administration (WAM). “We’re very excited to companion with Tienda Pago to supply entry to finance for this necessary buyer base.”
“Our new and current traders’ continued assist of Tienda Pago’s enterprise mannequin and growth will enable us to develop and generate extra impression in our communities,” added Dan Cohen, CEO and founding father of Tienda Pago. “Small shops are on the coronary heart of their communities; their well being straight impacts their neighborhoods. At present, over 68% of individuals working in small shops are ladies taking good care of their households. Offering formal and steady credit score permits these ladies to have their shops well-stocked.”
Girls’s World Banking Asset Administration co-led the Sequence B spherical alongside IDC Ventures. Present Tienda Pago traders additionally participated within the Sequence B spherical, together with Kaszek Ventures, QED, Accion Enterprise labs, Agrega Companions and Oiko Credit score, in addition to a brand new investor, the Alumni Fund.
About Girls’s World Banking Asset Administration
Girls’s World Banking Asset Administration (“WAM”) invests in progressive inclusive finance firms in rising markets, guiding them to seize the substantial market share of financially underserved ladies and the largely untapped expertise pool of girls workers and leaders. WAM’s first Fund was a pioneer of gender-focused impression investing in inclusive monetary service suppliers. WWBCP II expands the gender-focused funding technique in progressive monetary service suppliers, with a devoted technical help facility to assist portfolio firms obtain strategic goals towards gender inclusion.
About IDC Ventures
IDC Ventures is an funding fund that funds tasks that drive innovation and digital disruption. IDC Ventures focuses on firms within the fintech business, market, and platforms all through Europe, the US, and Latin America. Thus far, it has raised greater than USD $400 million for know-how firms and supported tasks resembling Curve, Bipi, RecargaPay, Merqueo, Securitize, and plenty of extra.
About Tienda Pago
Tienda Pago (“TP”) is a fintech firm that operates in Mexico and in Peru. TP gives short-term credit score to small comfort shops within the area to purchase stock from established Client Packaged Good firms (CPGs) and distributors. TP permits shops to obtain stock for per week, paying for these deliveries straight through banking switch to the stock suppliers. Tienda Pago makes use of progressive cellular know-how and enterprise fashions to achieve a inhabitants that’s financially underserved to foster monetary inclusion.
[ad_2]
