Latest news with #microfinance
Zawya
28-05-2025
- Business
- Zawya
CI Capital successfully concludes the first securitization bond issuance for Fawry MSME Finance with a total value of EGP497.5mln
Cairo, CI Capital ( the leading diversified financial services group, announced today the successful conclusion a securitized bond issuance worth a total of EGP 497.5 million for Capital for Securitization, in which Fawry MSME Finance is the originator and assignor of the portfolio. Fawry's issuance, which received an investment grade A- rating from Middle East Ratings and Investor Services (MERIS), was issued as a single tranche with a value of EGP 497.5mn and a tenor of 13 months. Amr Helal, CEO of the Investment Bank (Sell-Side) commented: 'This landmark transaction marks the first-ever securitized bond issuance for Fawry Microfinance. It stands as a powerful testament to CI Capital's long-term vision of empowering companies with access to sustainable financing solutions that support their growth ambitions. We remain deeply committed to playing a leading role in advancing Egypt's debt capital markets and promoting securitization as a dynamic financing tool that fosters the development of both productive and service-oriented sectors—especially the rapidly growing microfinance space.' Helal further added: 'We are proud of such a strategic partnership with Fawry, a leading player in Egypt's non-banking financial services sector. This issuance represents a significant milestone in our ongoing collaboration, reflecting the deep mutual trust between our institutions. It also underscores CI Capital's proven ability to structure and deliver complex, market-responsive transactions tailored to meet the evolving needs of our clients.' Moreover, Helal commended the significant efforts of CI Capital's debt capital markets team, as well as all parties involved in the successful completion of this issuance. Mohamed Abbas, Executive Director - Head of the Debt Capital Markets at CI Capital, expressed his pride for completing the first securitized bond issuance for Fawry Microfinance. He noted that this issuance is part of CI Capital's broader strategy to attract new companies to the local debt capital markets. Abbas reflected on the valuable partnership between CI Capital and Fawry Microfinance, which will lead to further fruitful collaboration, contributing to the company's notable growth in the non-banking financial services sector. CI Capital acted as the financial advisor, lead arranger, issuance manager, and bookrunner, while EG Bank acted as the custodian, Russel Bedford as the issuance's auditor, and Maatouk Bassiouny & Hennawy as the legal advisor. About CI Capital Holding for Financial Investments CI Capital Holding for Financial Investments is a diversified financial services group and Egypt's leading provider of leasing, microfinance, mortgage finance, consumer finance, and investment banking products and services. Through its headquarters in Cairo and presence in New York and Dubai, CI Capital Holding for Financial Investments offers a wide range of financial solutions to a diversified client base that includes global and regional institutions and family offices, large corporates, SMEs, and high-net-worth and individual investors. CI Capital Holding for Financial Investments leverages its full-fledged investment banking platform to provide market-leading capital raising and M&A advisory, asset management, securities brokerage, custody, and research. Through its subsidiary Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. In addition, CI Capital Holding for Financial Investments offers microfinance lending through Egypt's first licensed MFI, Reefy. The Group has over 3500 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets and a deep understanding of local market dynamics.
Entrepreneur
28-05-2025
- Business
- Entrepreneur
Saarathi Finance Raises INR 475 Cr to Empower Bharat's Micro and Nano Entrepreneurs
The round was led by marquee investors including TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angel investors, who together contributed INR 350 crores. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Saarathi Finance, a Greenfield NBFC founded in 2024 by Vivek Bansal (Founder and CEO) and Sunil Daga (Co-founder), has raised INR 475 crores in equity capital to support micro and nano businesses across India's underserved regions. The round was led by marquee investors including TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angel investors, who together contributed INR 350 crores. The remaining infusion came from the founders themselves, underscoring their deep conviction and commitment. The funding round values Saarathi Finance at over INR 900 crores. Headquartered in Mumbai, Saarathi Finance is on a mission to bridge the vast INR 44 lakh crore credit gap in the MSME sector, focusing particularly on semi-urban and rural regions of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh. The raised capital will be deployed to expand Saarathi's footprint, scale its tech-enabled lending platform, and build a high-quality secured and unsecured loan book tailored to MSMEs. Saarathi aims to provide flexible, fast, and personalized credit solutions, combining data-driven insights with a local understanding of its customers. Vivek Bansal shared, "We are committed to empowering Bharat's entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey." Saarathi's core offering includes secured and unsecured business loans, with a strong emphasis on flexible income assessment and rapid processing. By leveraging technology and deep customer engagement, Saarathi's philosophy—"Aap Akele Nahi Hai" (You are not alone)—is central to its promise of inclusive growth. Backing the vision, Gopal Srinivasan of TVS Capital Funds stated, "Saarathi Finance embodies the spirit of inclusive growth… crucial to India's journey towards a USD 10 trillion economy." With an experienced founding team and the confidence of seasoned investors, Saarathi Finance is poised to transform the credit landscape for India's grassroots entrepreneurs.
Yahoo
27-05-2025
- Business
- Yahoo
Microsmart and Begini partner to boost microfinance access for Greek MSMEs
LONDON, May 27, 2025--(BUSINESS WIRE)--Microsmart SA, Greece's first decentralized microfinance institution, has partnered with alternative data fintech Begini to unlock fast, fair, and accessible financing for micro and small businesses across the country. With MSMEs making up 99% of all Greek businesses, this partnership marks a significant step forward in closing the credit gap for underserved entrepreneurs. Backed by national regulators, Microsmart sought innovative tools to extend credit responsibly to Greece's smallest businesses, often excluded by traditional banks due to a lack of formal credit history. To meet this challenge, Microsmart integrated Begini's psychometric credit assessment into its digital lending flow. The solution, which generates predictive first-party credit data without requiring financial or personal records, was deployed in just two working days. In the six months following implementation, Microsmart reported a 90% increase in monthly lending volumes and a <95% completion rate for applicants—a strong signal of both appetite and accessibility. "Microcredit is a modern development tool. Our work with Begini helps remove long-standing barriers to finance by combining speed with fair risk assessment," said Neoklis Stamkos, CEO of Microsmart SA. "We are proud to help entrepreneurs across Greece turn their ambitions into action, without the friction of traditional banking." "Microsmart's leadership in microfinance made them the ideal partner for our alternative credit technology," said James Hume, CEO of Begini. "Together, we're proving that simple, behavioural insights can drive financial inclusion at scale, safely, affordably, and in days, not months." As Greece continues to rebuild and grow its small business sector, Microsmart and Begini are demonstrating that digital-first, human-centred credit solutions can have a meaningful impact on real-world outcomes for underserved communities. About Begini Begini provides scientifically-validated, privacy-consented behavioural analytics to help financial institutions assess credit risk, detect fraud, and segment customers. Learn more: View source version on Contacts Investor & Media contact: Alison Cheek, communications@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
27-05-2025
- Business
- Associated Press
Microsmart and Begini partner to boost microfinance access for Greek MSMEs
LONDON--(BUSINESS WIRE)--May 27, 2025-- Microsmart SA, Greece's first decentralized microfinance institution, has partnered with alternative data fintech Begini to unlock fast, fair, and accessible financing for micro and small businesses across the country. With MSMEs making up 99% of all Greek businesses, this partnership marks a significant step forward in closing the credit gap for underserved entrepreneurs. Backed by national regulators, Microsmart sought innovative tools to extend credit responsibly to Greece's smallest businesses, often excluded by traditional banks due to a lack of formal credit history. To meet this challenge, Microsmart integrated Begini's psychometric credit assessment into its digital lending flow. The solution, which generates predictive first-party credit data without requiring financial or personal records, was deployed in just two working days. In the six months following implementation, Microsmart reported a 90% increase in monthly lending volumes and a <95% completion rate for applicants—a strong signal of both appetite and accessibility. 'Microcredit is a modern development tool. Our work with Begini helps remove long-standing barriers to finance by combining speed with fair risk assessment,' said Neoklis Stamkos, CEO of Microsmart SA. 'We are proud to help entrepreneurs across Greece turn their ambitions into action, without the friction of traditional banking.' 'Microsmart's leadership in microfinance made them the ideal partner for our alternative credit technology,' said James Hume, CEO of Begini. 'Together, we're proving that simple, behavioural insights can drive financial inclusion at scale, safely, affordably, and in days, not months.' As Greece continues to rebuild and grow its small business sector, Microsmart and Begini are demonstrating that digital-first, human-centred credit solutions can have a meaningful impact on real-world outcomes for underserved communities. About Begini Begini provides scientifically-validated, privacy-consented behavioural analytics to help financial institutions assess credit risk, detect fraud, and segment customers. Learn more: View source version on Investor & Media contact: Alison Cheek,[email protected] KEYWORD: EUROPE IRELAND UNITED KINGDOM GREECE INDUSTRY KEYWORD: DATA ANALYTICS FINANCE BANKING DATA MANAGEMENT SMALL BUSINESS PROFESSIONAL SERVICES TECHNOLOGY FINTECH SOURCE: Begini Copyright Business Wire 2025. PUB: 05/27/2025 12:21 AM/DISC: 05/27/2025 12:21 AM
Yahoo
27-05-2025
- Business
- Yahoo
Microsmart and Begini partner to boost microfinance access for Greek MSMEs
LONDON, May 27, 2025--(BUSINESS WIRE)--Microsmart SA, Greece's first decentralized microfinance institution, has partnered with alternative data fintech Begini to unlock fast, fair, and accessible financing for micro and small businesses across the country. With MSMEs making up 99% of all Greek businesses, this partnership marks a significant step forward in closing the credit gap for underserved entrepreneurs. Backed by national regulators, Microsmart sought innovative tools to extend credit responsibly to Greece's smallest businesses, often excluded by traditional banks due to a lack of formal credit history. To meet this challenge, Microsmart integrated Begini's psychometric credit assessment into its digital lending flow. The solution, which generates predictive first-party credit data without requiring financial or personal records, was deployed in just two working days. In the six months following implementation, Microsmart reported a 90% increase in monthly lending volumes and a <95% completion rate for applicants—a strong signal of both appetite and accessibility. "Microcredit is a modern development tool. Our work with Begini helps remove long-standing barriers to finance by combining speed with fair risk assessment," said Neoklis Stamkos, CEO of Microsmart SA. "We are proud to help entrepreneurs across Greece turn their ambitions into action, without the friction of traditional banking." "Microsmart's leadership in microfinance made them the ideal partner for our alternative credit technology," said James Hume, CEO of Begini. "Together, we're proving that simple, behavioural insights can drive financial inclusion at scale, safely, affordably, and in days, not months." As Greece continues to rebuild and grow its small business sector, Microsmart and Begini are demonstrating that digital-first, human-centred credit solutions can have a meaningful impact on real-world outcomes for underserved communities. About Begini Begini provides scientifically-validated, privacy-consented behavioural analytics to help financial institutions assess credit risk, detect fraud, and segment customers. Learn more: View source version on Contacts Investor & Media contact: Alison Cheek, communications@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
