Oikocredit supports digital financial services in Latin America
Oikocredit has acquired a minority stake in Bankingly as part of a funding round for USD 10 million
Social impact investor and global cooperative Oikocredit has become a minority shareholder in Bankingly, a software provider enabling the digitisation of cooperatives, microfinance institutions and small and medium banks.
Founded in 2015, Bankingly supports financial institutions in emerging markets with their digital transformation, focusing on the development of customer-facing digital channels like mobile apps and transactional websites.
With this investment, Oikocredit reinforces its commitment to support financial inclusion through investments in fintech companies that facilitate increased access to financial services for low income people.
Nicolás Arrosa, Equity Officer at Oikocredit, said: “At Oikocredit, we are excited to enter this new partnership and support the growth of Bankingly. We were particularly drawn to company’s vision for facilitating the financial inclusion of millions of people through the digitisation of appropriate financial services. Bankingly’s vision is well aligned with Oikocredit’s goal of maximising social impact with our investments.”
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