InstaCash is a Micro Lender
licensed to provide financial products, the demand for which is rapidly increasing in an underserved market because of stringent new government regulations to which the Company adheres.
The firm continues to hold stakes in six other financial services companies: Blue Financial Services, a non-deposit taking micro lender
serving 10 countries in sub-Saharan Africa; BACIM Bank, the seventh largest banking group in Mauritania; Continental Reinsurance plc, Nigeria's largest reinsurance company; African Financial Holdings, a prominent banking group with eight subsidiaries across Africa operating under the Bank of Africa brand name; Intercontinental Bank plc, one of the largest banking groups in Nigeria; and GA[c]nA[c]rale Assurance MA[c]diterranA[c]enne, a life and non-life insurance company in Algeria.
South Korean finance firm, APRO Financial Co Ltd, is to purchase a stake in Indonesia-based micro lender
, Bank Andara.
Currently the micro lender
has Rs 330 crore worth of portfolio under management covering around 250,000 clients in the states of Maharashtra, Tamil Nadu, Gujarat, Orissa, Karnataka and Rajasthan.
InstaCash is categorized as a Micro Lender
and is licensed to provide financial products pursuant to the Australian National Consumer Credit Protection Act.
We have studied the success of microfinance institutions throughout Africa, and we believe that Blue Financial is well poised to expand upon its position as a leading multinational micro lender
Grant to Micro Lender
Will Help Create Much-Needed Jobs
Apart from a set of HNIs, the micro lender
s list of investors also includes Indian giant HDFC Group.
Working with nonprofit micro lender
Accion and its various lending partners, including San Francisco's Opportunity Fund, Brewing the American Dream has provided more than $2 million in micro-financing to nearly 240 businesses nationwide, coached more than 3,000 small business owners, and created or saved nearly 1,400 jobs.
Previous winners were in 2009, The Intersect Fund, a micro lender
based in New Brunswick and comprised mostly of volunteer Rutgers Students, and in 2008, Bookswim, a book rental service with a similar business model to the one Netflix uses.
India-based Bandhan, a micro lender
that had been approved to provide banking services in India, is hiring from the private banking sector.
SKS Microfinance Ltd (NSE: SKSMICRO) is another micro lender
, the only one to be listed on the exchange, which is considering the idea.