MSME

$1.4 billion in loans financed by Quona portfolio companies in India; Quona Capital’s 2022 Impact Report reveals financial inclusion progress

Retrieved on: 
Thursday, June 1, 2023

The report highlights the progress its portfolio companies have made in helping underserved individuals and small businesses access affordable and reliable financial services, and features case studies on several companies.

Key Points: 
  • The report highlights the progress its portfolio companies have made in helping underserved individuals and small businesses access affordable and reliable financial services, and features case studies on several companies.
  • Together, these portfolio companies have touched more than 144.5 million customers’ lives, 79% of which were underserved.
  • The report underlines Quona's ongoing commitment to investing in the fintech sector with a focus on driving greater financial inclusion and impacting positive change in developing economies.
  • “There’s never been a more important time for financial innovation in the region and the world,” added Varun Malhotra, partner at Quona.

AWS announces the 25 startups selected for its first 'fintech in Africa' accelerator

Retrieved on: 
Thursday, June 1, 2023

NAIROBI, Kenya, June 1, 2023 /PRNewswire/ -- 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort. This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS.

Key Points: 
  • NAIROBI, Kenya, June 1, 2023 /PRNewswire/ -- 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort.
  • This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS.
  • The pre-seed and seed stage fintech startups will start the 10-week program in June.
  • "I am excited that the accelerator will be instrumental in empowering these startups to grow and scale their businesses."

AWS announces the 25 startups selected for its first 'fintech in Africa' accelerator

Retrieved on: 
Thursday, June 1, 2023

NAIROBI, Kenya, June 1, 2023 /PRNewswire/ -- 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort. This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS.

Key Points: 
  • NAIROBI, Kenya, June 1, 2023 /PRNewswire/ -- 25 African fintech startups have been selected for the inaugural Amazon Web Services (AWS) FinTech Africa Accelerator cohort.
  • This cohort was selected from over 500 applications and is part of the EMEA Startup Loft Accelerator (SLA) program run by AWS.
  • The pre-seed and seed stage fintech startups will start the 10-week program in June.
  • "I am excited that the accelerator will be instrumental in empowering these startups to grow and scale their businesses."

Return on Equity Soars to 21% as BRI Shares Hit All-Time High Again

Retrieved on: 
Thursday, May 25, 2023

On 19 May 2023, BRI achieved an all-time high with shares reaching IDR 5,400 per share, resulting in a market capitalization of IDR 818.4 trillion.

Key Points: 
  • On 19 May 2023, BRI achieved an all-time high with shares reaching IDR 5,400 per share, resulting in a market capitalization of IDR 818.4 trillion.
  • The positive trend continued into the following week, as BRI shares exceeded IDR 5,500 per-share on 23 May 2023.
  • This is one of the reasons why BRI shares traded below IDR 5,000 last year," explained Sunarso.
  • At the same time, BRI was able to deliver a return on equity of 21.18% in Q1 2023.

Stone's growth accelerates; company delivered its best first quarter ever, with adjusted net income of BRL237 million

Retrieved on: 
Wednesday, May 17, 2023

Revenue reached BRL 2.7 billion in 1Q23, up 31% year-on-year, exceeding the guidance by 4%.

Key Points: 
  • Revenue reached BRL 2.7 billion in 1Q23, up 31% year-on-year, exceeding the guidance by 4%.
  • Cash generation was also a record, with BRL 4 billion in adjusted net cash, a BRL 499.2 million increase vs. previous quarter.
  • We are building a financial services platform with integrated solutions for our customers, which goes far beyond acquiring", says Stone CEO, Pedro Zinner.
  • The result was driven by Stone's offers for small and medium-sized businesses, and Ton, a solution for micro and small businesses.

Pepper Advantage Acquires Indian AI-driven Credit Management Platform Rieom.ai

Retrieved on: 
Wednesday, May 17, 2023

Pepper Advantage, a global credit intelligence company, has acquired Rieom.ai, a specialist AI-driven credit management software platform based in Pune, India.

Key Points: 
  • Pepper Advantage, a global credit intelligence company, has acquired Rieom.ai, a specialist AI-driven credit management software platform based in Pune, India.
  • Algorithm driven, it can be integrated directly into the loan originator’s credit management systems via API, providing a scalable, holistic, contextual and relationship-driven platform to evaluate loan application and portfolio risk analysis.
  • The acquisition of Rieom.ai also brings significant product development opportunities as its technology is integrated into Pepper Advantage’s credit technology platform, which offers propriety data and analytics capabilities that can replace legacy credit management processes with an end-to-end solution accessible via API.
  • "The acquisition of Rieom.ai rapidly expands Pepper Advantage’s addressable market in India and represents an AI-driven credit management model we will soon be bringing to additional high-growth countries.

Governor Ganjar Pranowo releases Indonesian MSME product for export, valued at IDR7billion

Retrieved on: 
Tuesday, May 16, 2023

4 containers of MSME product were released in Purwokerto, Central Java Province, while 3 containers were dispatched from Purbalingga and Pati.

Key Points: 
  • 4 containers of MSME product were released in Purwokerto, Central Java Province, while 3 containers were dispatched from Purbalingga and Pati.
  • The 7 containers of export products included essential oils, organic coconut sugar, processed foods, brooms, organic palm sugar, and handicrafts.
  • Central Java Governor Ganjar Pranowo released seven containers of local MSME product for export to Asia, the Middle East and America.
  • Following the export release, Governor Ganjar Pranowo stated that the support provided by the local government and MSME activists had yielded results.

Tide Launches UK-India Exchange Programme to Boost Global Exports & Entrepreneurship

Retrieved on: 
Wednesday, April 26, 2023

Dr. Oliver Prill, CEO, Tide said, "Through the MSME Exchange Programme, Tide is taking a huge step in championing small businesses and fostering bonds between small business owners in the UK and India.

Key Points: 
  • Dr. Oliver Prill, CEO, Tide said, "Through the MSME Exchange Programme, Tide is taking a huge step in championing small businesses and fostering bonds between small business owners in the UK and India.
  • I congratulate Tide on adding to the India-UK success story.”
    Gurjodhpal Singh, CEO, Tide India, said, “MSMEs are the backbone of India’s economic aspirations.
  • Tide India is eager to act as an active enabler of small businesses, and unlock the true potential of MSMEs.
  • We look forward to supporting those small businesses who will take part in what is a significant initiative by Tide.”

Beyond Payments: Mastercard Launches New Suite of Solutions Dedicated to Women Entrepreneurs

Retrieved on: 
Tuesday, April 11, 2023

Mastercard is leaning heavily into its insights to support women entrepreneurs with products and solutions that address owner’s daily challenges.

Key Points: 
  • Mastercard is leaning heavily into its insights to support women entrepreneurs with products and solutions that address owner’s daily challenges.
  • In fact, additional research indicates that there are several more unresolved needs faced by women entrepreneurs in the region.
  • Based on this study, Mastercard developed a new value proposition that not only benefits women entrepreneurs, but also improves the responsiveness of card-issuing banks.
  • "With the launch of these dedicated solutions, women entrepreneurs in the Latin America and Caribbean region now have access to services and benefits specifically tailored to meet their needs.

India Embedded Finance Business and Investment Opportunities Databook 2023: B2B Embedded Lending Firms are Experiencing Strong Growth in Loan Disbursal - ResearchAndMarkets.com

Retrieved on: 
Thursday, April 6, 2023

The "India Embedded Finance Business and Investment Opportunities Databook - 50+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "India Embedded Finance Business and Investment Opportunities Databook - 50+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
  • The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 36.3% during 2023-2029.
  • In India, embedded finance has created new growth avenues for new-age digital business and traditional financial service providers.
  • B2B embedded lending firms are experiencing strong growth in loan disbursal in India.