Musoni - Nairobi, Kenya
Musoni was founded in 2009 and has developed a system using mobile technology to improve the efficiency, transparency, and client focus of MFIs. They have successfully set up MFIs that completely utilize mobile money for loans, disbursements, deposits, and withdrawals. Through this, they hope to substantially improve the quality and availability of financial services to low income, unbanked, or underbanked individuals in the developing world. By the end of 2011, Musoni Kenya distributed over 10,000 loans and lent more than $2m to micro entrepreneurs. In July 2011, Musoni won the award for ‘most innovative use of technology’ granted during the Global Microfinance achievement Awards in Geneva.
InVenture has been working with Musoni since January 2012
Kiva Zip - Nairobi, Kenya
Kiva Zip is a pilot program, launched by Kiva.org, to drive innovations in person-to-person lending. They provide 0% interest loans up to $5,000 for small businesses and entrepreneurs who are financially excluded and underserved. These loans are ‘crowd-funded’ by individual lenders on the Kiva Zip website, connecting entrepreneurs with dozens of lenders who can be potential brand ambassadors and customers to their business. They are currently operating in Kenya and the United States.
InVenture has been working with Kiva Zip since January 2012
Awethu Project - South Africa
The Awethu Project has developed a globally-acclaimed model for building businesses and creating sustainable jobs in under-resourced South African communities. Awethu trains and assists entrepreneurs in these communities to start and grow businesses, selecting the most talented to be part of the high-impact Awethu Incubator. Due to its innovative approach to economic development, Awethu was recently recognized as “One of the most visionary social innovations” of 2011 by Echoing Green
InVenture has been working with Awethu Project since April 2012
MyMela - India
MyMela helps Indian artisans preserve their art and way of life. MyMela features their work for sale in their online marketplace and also allows anyone to assist artisans with loans. The loans are immediately advanced to the artisans up front instead of waiting for the full loan request to be reached. Without MyMela’s services, many artisans are forced to abandon their traditional vocations and take menial jobs just to help their families survive.
InVenture has been working with MyMela since October 2012
Muthoot Housing Finance - India
Muthoot Housing Finance Company (MHFCL) offers housing loans to low income individuals.
InVenture has been working with MHFCL since September 2012
Asha Handicrafts Association - India
Founded in 1975, Asha Handicrafts Association aims to promote the social and economic welfare of artisans and producer groups in India. Asha gives marketing support, purchases directly from artisan groups, and offers advanced payments on orders to increase the income levels of artisans and prevent them from accumulating long term debt. Asha also provides training and teaching facilities in tailoring and metal work to establish new local groups of craftsmen. In these ways, Asha hope to ensure that the benefits of handicraft production reach the craftspeople themselves.
InVenture has been working with Asha handicrafts Association since October 2012