3 September 2024

n°165
newswatch

Sep 3
Philippines: TPG’s the Rise Fund Leads Strategic Investment in BillEase
BillEase, the leading digital consumer finance platform in the Philippines, today announced TPG's The Rise Fund has signed definitive documentation to lead a significant strategic investment in the company.
Source: The Manila Times
Sep 1
Validus, a Singapore-Based Digital SME Lending Platform, Secures $50M Debt Financing to Help Enterprises in Indonesia
Validus, a Singapore-based digital lending platform for small and medium businesses, has secured $50 million in debt financing from HSBC under the ASEAN Growth Fund strategy. Validus will use the proceeds to support the financial inclusion of micro, small and medium enterprises (MSMEs) in Indonesia, addressing the challenges they face in accessing financial resources.
Source: TechCrunch
Aug 28
Brazil: Mombak Gets Funding Boost from BNDES
The funding strategy of Brazilian reforestation startup Mombak received a fresh boost after national development bank BNDES granted it a BRL160 million ($30 million) loan, just weeks after the firm secured financing from the World Bank’s first Amazon bond. Under the deal, BNDES will lend BRL80 million for 25 years at 2.5% per year from its climate fund and another BRL80 million for 15 years at around 10% per year from its Finep innovation fund.
Source: LatinFinance
Aug 27
South Africa Founded Fintech Omnisient Secures $7.5mln Investment from Arise
The USD 7.5 million ‘Series A’ investment will support data privacy and collaboration platform Omnisient’s mission to grow financial inclusion across Africa and beyond.
Source: ZAWYA
Aug 27
India: Muthoot Microfin Secures $15 Million from Triple Jump, Nears $35 Million Deal with BlueOrchard
Muthoot Microfin has finalised a deal with Dutch development finance institution Triple Jump to raise $15 million in non-convertible debentures, while it is in advanced stage of discussions to raise another $35 million from Swiss impact investor BlueOrchard even as the microfinance sector is facing headwinds with symptoms of overheating visible in some pockets.
Source: The Economic Times
Aug 27
Z. Ben Yahmed, C. Grant and N. Pinko, Climate Policy Initiative: Managing Currency Risk to Catalyze Climate Finance
The paper explores risks arising from the mismatch between debt denominated in “hard” currencies (e.g., US dollars or euros) and the revenues used to repay the debt denominated in local currencies—as is frequently the case for climate-related projects.
Source: Climate Policy Initiative
Aug 27
New IFC Investment in Bank of Palestine to Help Palestinian Businesses Access Finance
IFC, a member of the World Bank Group, along with other partners, is providing a financing package of up to $100 million to the Bank of Palestine, the largest financial institution in the territories, to support Small and Medium-sized Enterprises (SMEs), a vital pillar of the fragile Palestinian economy, and to help the bank expand its services across the region.
Source: IFC

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