Quona Capital’s 2022 Impact Report showcases the measurable impact its investments have made on financial inclusion. According to Quona, its portfolio companies help underserved individuals and small businesses access affordable and reliable financial services. The report is available at https://tinyurl.com/bddxmnyc
Quona: investment in 72 fintechs since 2015
Quona has invested in 72 fintechs across India and Southeast Asia, LATAM, Middle East and Africa since its 2015 formation.
It says that these portfolio companies have touched more than 144.5 million customers’ lives, 79% of which were underserved.
These investments generated over $1.5bn in revenue in 2022, bringing significant social and economic benefits. This includes increased access to financial services, job creation, and improved financial health for individuals and communities.
The report also underlines Quona’s continued commitment to investing in the financial technology sector with a focus on driving greater financial inclusion and impacting positive change in developing economies. Working with founders and entrepreneurs to scale transformative fintech businesses, Quona demonstrates its ability to help create impact at scale.
“Since our first cheque, we have remained deeply committed to investing in startups tackling some of the most challenging problems. Today our investments span a wide range of fintech solutions,” said Monica Brand Engel, co-founder and managing partner at Quona. These include digital payments, lending, insurance, embedded finance and other financial services that leverage technology to eliminate barriers to access.
The firm’s approach to investing generates insights across geographies from companies with common themes. Examples such as embedded finance and logistics enables it to bring important perspectives to founders.
Klar and Khazna: boosting financial inclusion in Mexico and Egypt
For example, Klar, is a challenger bank increasing access to financial services for people in Mexico. 49% of its customers used it to access formal financial services for the first time through its platform. Some 25% of its customers are female.
Khazna is a digital super app offering formal credit to Egypt’s 20 million underbanked consumers. It reported that 82% of customers were accessing such a product for the first time through its app. Some 60% of its customers associated financial access with quality-of-life improvement.
“We are proud of the impact our portfolio companies have made in reaching underserved populations in a post-pandemic world. We remain committed to supporting entrepreneurs who are leveraging technology to advance financial inclusion. We look forward to continuing to attract capital to this important work,” added Jonathan Whittle, co-founder and managing partner.