Month: October 2019

UK Fintech Moneybaba Backed by Duet Private Equity and EMEA Capital LLP

Moneybaba, the online lender focusing on responsible lending and facilitating access to credit across emerging countries, has secured an investment from Duet Private Equity Limited and EMEA Capital LLP.

Moneybaba challenges the traditional lenders by offering real-time loans to individuals with limited financial history. It operates exclusively online, at lower opex than traditional lenders which rely on branches and manpower. In addition to online origination, the fintech has also signed-up thousands of small merchants, empowering them to finance their clients at point of sale, with immediate payments and no fees. Its proprietary technology is underpinned by algorithms processing alternative data, conducting a behavioural analysis that facilitates lending decisions to borrowers with little or no credit history. Moneybaba is already operative in South American countries under TuTasa brand.

Marcelo Barreneche, Founder & CEO of Moneybaba said that he is “excited about joining forces with top Private Equity investors who have strong Emerging Markets expertise” adding that “their investment and know-how will act as a catalyst towards achieving our expansion goals globally.” The founder revealed that the fresh investment will be used for “strengthening the balance sheet, launching new countries especially in Africa.” The funding is part of a wider institutional investment round with further details to be disclosed soon.

About Duet Private Equity Limited and EMEA Capital LLP

Duet Private Equity Limited was established in 2003 and has built alliances with best-in-class strategic partners to leverage a vast network of local experience. The team has extensive experience in sourcing, structuring, executing, managing and creating value.

Duet Private Equity Limited is part of Duet Group which was established in 2002 by Henry Gabay.

EMEA Capital LLP, is an investment firm established in 2008 by Osman Semerci, primarily investing its partners’ capital across financial markets, fintech and private equity.

SOURCE:  Businessinsider

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