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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 so far. WWBCP II seeks to shut the gender hole in monetary inclusion, whereas demonstrating the enterprise case for gender lens investing by attaining engaging returns for its buyers.
Small companies are basic drivers of financial growth in Latin America and signify the overwhelming majority of companies and employment within the area. Nonetheless, they lack entry to funding, with knowledge displaying that Micro, Small and Medium Enterprises (MSMEs) obtain solely 12% of complete formal credit score within the area. Tienda Pago helps to bridge this hole by offering small enterprise house owners 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 house owners, however suppliers as effectively, offering worth at each ends of the availability chain.
Tienda Pago’s companies have been of specific 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 have 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 determine alternatives to extend publicity to potential feminine clients, 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 expertise positions. The funding will even improve WWBCP II’s publicity to the historically underserved market of women-owned MSMEs.
“Small enterprise house owners are the cornerstone of financial growth, 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 accomplice with Tienda Pago to supply entry to finance for this essential buyer base.”
“Our new and present buyers’ continued assist of Tienda Pago’s enterprise mannequin and growth will enable us to develop and generate extra affect 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 instantly impacts their neighborhoods. In the present day, 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 buyers 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 revolutionary 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 affect investing in inclusive monetary service suppliers. WWBCP II expands the gender-focused funding technique in revolutionary monetary service suppliers, with a devoted technical help facility to assist portfolio firms obtain strategic targets 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 expertise firms and supported tasks corresponding to 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 offers short-term credit score to small comfort shops within the area to purchase stock from established Shopper Packaged Good firms (CPGs) and distributors. TP permits shops to obtain stock for every week, paying for these deliveries instantly through banking switch to the stock suppliers. Tienda Pago makes use of revolutionary cell expertise and enterprise fashions to achieve a inhabitants that’s financially underserved to foster monetary inclusion.
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