Micromoney and L-Pesa are proud to announce a new partnership.
Micromoney is a microlending business started in Cambodia in 2015. Since the initial launch, Micromoney has achieved almost 100,000 registered users and have established offices in two additional countries: Myanmar and Thailand. Micromoney successfully concluded an ICO in November 2017 and raised $10.5 million. The company is now focused on growing its footprint in Southeast Asia.
L-Pesa Microfinance is a microlending fintech business founded in 2014 and launched in Tanzania in 2016. Since its launch, L-Pesa has issued over 25,000 loans and achieved over 140,000 registered users. L-Pesa is currently operating offices in Tanzania and Kenya and is preparing to launch in Uganda, India and additional countries in Africa. L-Pesa is launching an ICO in early January 2018.
Both companies share a common social vision to help small business entrepreneurs start and grow their ventures, and to see consumers reach their financial goals. Although their credit scoring algorithms are different, both companies have been able to solve the question of how to create credit scores for un-banked or under-banked customers while still achieving loss rations low enough to sustain and grow the platform.
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