IFC and VCs Want To Take Emerging Market Microfinance To Mobile
Several venture capital firms are working with the International Finance Corporation (IFC). A member of the World Bank Group, the IFC is partnering with Chicago-based Victory Park Capital (VPC) to launch a new fund to provide debt to for online lending by fintech lenders in the developing world. The partnership aims to improve access to debt capital for financial technology companies that lend to small businesses and consumers in emerging markets.
Forbes' Tom Groenfeldt shares details.