Home Women Financial Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Girls’s World Banking Asset Administration, IDC Ventures

Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Girls’s World Banking Asset Administration, IDC Ventures

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Latin American Fintech Tienda Pago Raises Collection B Spherical, Backed by Girls’s World Banking Asset Administration, IDC Ventures

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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 up to now. 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 elementary drivers of financial improvement 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 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 offer seamless, cashless transactions that profit not simply store homeowners, however suppliers as properly, offering worth at each ends of the provision chain.

Tienda Pago’s companies have 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 have been in a position to 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 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 choices, notably in underrepresented know-how positions. The funding will even enhance 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 an important piece of the worldwide technique to extend girls’s monetary inclusion,” mentioned CJ Juhasz, Chief Funding Officer at Girls’s World Banking Asset Administration (WAM). “We’re very excited to associate with Tienda Pago to offer entry to finance for this vital buyer base.”

“Our new and present buyers’ continued help of Tienda Pago’s enterprise mannequin and growth will enable us to develop and generate extra influence 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 girls taking good care of their households. Offering formal and steady credit score permits these girls to have their shops well-stocked.”

Girls’s World Banking Asset Administration co-led the Collection B spherical alongside IDC Ventures. Present Tienda Pago buyers additionally participated within the Collection 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 girls and the largely untapped expertise pool of ladies employees and leaders. WAM’s first Fund was a pioneer of gender-focused influence 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 initiatives 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.  Up to now, it has raised greater than USD $400 million for know-how firms and supported initiatives resembling Curve, Bipi, RecargaPay, Merqueo, Securitize, and lots 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 Client Packaged Good firms (CPGs) and distributors. TP permits shops to obtain stock for every week, paying for these deliveries straight through banking switch to the stock suppliers. Tienda Pago makes use of revolutionary cellular know-how and enterprise fashions to achieve a inhabitants that’s financially underserved to foster monetary inclusion.

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