Latin America

The vibrancy of the startup ecosystem in Latin America has never been brighter, with unprecedented growth in invested capital and with heightened international investor interest in the region. Fintech remains dominant, having captured more VC investment than any other sector for five of the past six years. LatAm is home to 20+ unicorns, including Creditas, Nubank, EBANX, Ualá, and Clip, which in turn has fueled an entrepreneurial draw for much of the continent’s talent, contributing to the richness of Quona’s pipeline of Latin American opportunities.

$490M
Loans disbursed in 2020 by our
LatAm portfolio

Africa, MENA & Cross-Border

Investing in Africa, MENA and Cross-Border has never been more exciting. Successful exits, IPOs and large rounds in the African fintech ecosystem—such as the PayStack and DPO exit, Fawry IPO and $1 billion Flutterwave valuation—are driving strong venture interest in the continent, where we’ve been investing since Quona’s inception.

$1.8B
Payment transactions enabled in 2020

South & South East Asia

It is truly an Asian century with South and South East Asia coming into their own as a startup ecosystem. Total venture investment in the region has reached record levels in 2021 on the back of heightened interest from both global and local investors. Blockchain and DeFi are driving the massive transition to a secure and inclusive digital financial ecosystem. As home to over 75 unicorns—most of them within the digital and fintech-related sectors—there has never been a better time to invest in South and South East Asia.

6.5M
MSMEs served by our Asia portfolio in 2020
Buy Now Pay Later solutions for Latin America
ADDI is a provider of point of sale finance solutions that partners with online and offline merchants to offer consumers affordable and transparent installment loans for major purchases.
Insurtech targeting clients with chronic diseases
AllLife delivers immediate pricing and policy issuance to clients in South Africa with chronic diseases (diabetes and HIV) through its robo-advisory technology, real-time underwriting algorithm and treatment-centric, managed care approach.
Online international remittances
Azimo is a leader in the global P2P remittance market, offering a fast, low-cost and secure means to send money 24/7 through a wide variety of channels in 195+ countries and territories.
Bookkeeping and receivables management platform for MSMEs
Starting with its bookeeping and receivables management platform, BukuWarung aims to address a multitude of challenges faced by Indonesia’s large and vastly underserved micro SMEs—particularly in regards to inconvenience, poor visibility, and lack of credit.
Tax, accounting, and banking services for MSMEs
Contabilizei's SaaS platform offers a streamlined, low-cost digitized tax and accounting service, integrated with banking services to provide MSMEs in Brazil with a complete financial solution to manage their businesses.
Secured lending platform for auto and home equity
Creditas is a next-generation lending platform democratizing access to secured auto and home equity loans, and payroll loans in Latin America.
Online pay-as-you-go asset financing
Eseye is a leading enabler of pay-as-you-go and prepaid asset finance solutions globally, which expands access to goods and payment solutions for the underbanked.
Social commerce marketplace serving low- to mid-income consumers
Facily has flipped the conventional e-commerce construct on its head with its innovative social commerce model focused on serving those at the bottom of the pyramid, enabling the company to deliver low-ticket goods—like produce, cleaning supplies, and small-ticket electronics—to its users at a fraction of the cost of traditional retail.
Personal finance and wealth advisory platform
Fisdom democratizes access for people underserved by traditional financial systems by providing basic financial planning and management through its mobile-first engagement, recommendation and fulfillment engine, enabling it to service first-time entrants to savings and capital-market products.
India's largest B2B discovery and procurement platform
IndiaMart has single-handedly established a unique digital marketplace for SMEs to digitally discover, transact and make payments in a secure and trusted manner, bridging the physical divide between buyers and sellers.
Licensed digital consumer lender offering low-cost loans
JULO is a digital consumer lender in Indonesia that leverages its propriety credit scoring method to offer affordable, short-term uncollateralized loans to new-to-credit and low-income consumers.
P2P lending marketplace for MSMEs
KoinWorks is the leading e-commerce merchant lender in Indonesia, which has a credit gap of USD 80 billion. KoinWorks helps MSMEs secure financial services through lenders on its online marketplace platform.
Financial services platform for on-demand drivers
Brazilian mobility startup Kovi helps ride-hailing and other on-demand app drivers in the region gain access to fairly priced vehicle financing and tools to help maximize their income and manage their money.
Buyer-anchored supply chain finance marketplaces
Monkey's competitive financial marketplace for receivables puts an unprecedented spin on reverse factoring, combining buyer-sanctioned marketplaces with auction-based pricing on a multi-funder platform, enabling the company to effectively extend affordable financing to underserved small and mid-sized suppliers excluded from traditional SCF programs in Brazil.
Digital banking platform for consumers and SMEs
Neon is a mobile-first bank with a proprietary full-stack technology platform that is democratizing access to financial services in Brazil through quick onboarding, transparent and low pricing, extraordinary customer service, and an accessible user experience.
Housing and home improvement finance
B2B e-commerce and fintech platform for Africa
Sokowatch is leveraging e-commerce to revamp Africa's informal retail supply chain. Sokowatch enables informal retailers to digitally order goods for quick delivery, powered by partnerships with FMCG manufacturers, and has added on credit offerings to further serve its customers.
Point-of-sale financing for farmers
Tarfin is filling the agricultural financing gap in Turkey across the agri value chain. The company provides farmers with agricultural inputs with extended payment terms through a network of agri-retailers who can also get working capital financing from Tarfin.
B2B commerce and fintech marketplace for SE Asia
Ula aims to become a zero friction, low-commission marketplace to address B2B value chain pain points. The company facilitates price discovery, catalog management, transactions, logistics, payments and credit for small retailers.
Digital point-of-sale financing solution
ZestMoney is India's leading digital consumer lending brand for customers with no or limited credit history, offering them affordable, card-less EMI loans through a network of online and offline channel partners.
Licensed sharia-compliant P2P lender for MSMEs
Alami is a licensed P2P SME lender targeting rural, underserved MSMEs in Indonesia. The company is in the process of launching one of the first digital banks in Indonesia.
Post-harvest services platform
Arya Collateral is a digital, integrated agri value-chain services company focused on warehousing, management, financing, and market linkages.
Cross-border money transfer platform
Global66 is a pan-Latin American B2C and B2B cross-border payments platform focused on underserved corridors in the region. The company provides easy and affordable access to remittances, cross-border payments, and multi-currency wallets for individuals and MSMEs.
Online SME working capital lender
BizCapital is a digital lender for Brazilian SMEs that leverages alternative sources of data to underwrite its loans, resulting in a more complete assessment of traditionally underserved applicants. BizCapital delivers a faster, more streamlined process, and provides affordable and flexible terms.
Digital payments platform leveraging blockchain
Coins.ph is Southeast Asia's leading mobile, branchless, blockchain-based platform that provides unbanked and underbanked customers with direct access to basic financial services, including remittances, bill payments, and mobile airtime. Coins.ph was acquired by Go-Jek in 2019.
Personal finance management platform
Cowrywise aims to democratize access to savings and wealth management services for Nigeria's financially underserved low- and middle-income population by providing affordable core savings products and a suite of investment products starting with mutual funds.
Credit advisory and loan origination platform
CreditMantri's full-service financial and credit advisory services platform enables underserved Indian consumers to access their credit scores, learn how they can improve their credit, and obtain useful products matched to their credit profiles.
Subscription-based insurance and healthcare benefits for MSMEs
Onsurity provides insurance and healthcare benefits to India’s working population by offering an affordable monthly subscription to MSMEs and new-to-medicare companies that typically have fewer than 200 employees. Onsurity’s platform not only reaches a large underserved and uninsured population, but also leverages a proprietary risk underwriting model to offer pricing 20-40% less than traditional insurers.
Mobile wallet and financial services platform
Through a digital platform that manages underwriting and loan disbursal processes, Finja provides working capital loans to SMEs as well as loans to employees of SMEs on its platform.
Branchless banking agent network
GKN's systems and services enable banking and microfinance institutions, retail goods providers, and government entities to circumvent legacy communications and other physical infrastructures to provide an array of existing and emerging financial services products to the underserved.
Invoice and financing platform for SMEs
Invoinet is an invoice management and financing platform for MSME factoring that connects buyers and suppliers on a collaborative platform and open marketplace, providing access to financing to the smallest suppliers at significantly better terms than they could receive on their own from traditional factoring providers.
Challenger bank offering banking services and access to credit
Klar is a challenger bank increasing access to banking services for underserved Mexican consumers. Its platform addresses two key pain points in the market: a lack of access to credit and a lack of incentives to use a card instead of cash.
Digital banking, payments, and software tools for SMEs
Konfio builds digital banking, payments, and software tools to boost SME growth and productivity
Online SME working capital lender
Lulalend is a fully digital SME working capital lender that provides loans to South Africa's "missing middle"—businesses too large to access microfinance, or too small to secure large capital loans.
Digital payments-based lender for MSMEs
Neogrowth pioneered unsecured working capital loans for SMEs in India—a segment which has minimal asset ownership and struggles to get credit for business expansion at fair rates from banks—through unique point-of-sale underwriting and cash flow-based assessments.
LaaS company providing API blocks to embed financial products in MSME platforms
Rupifi's vision is to finance all B2B commerce transaction flows. It leverages B2B e-commerce partnerships (“anchors") and lenders to provide Buy Now Pay Later credit lines and commercial credit card solutions to underserved MSMEs in India. These merchants engage in high frequency, low-ticket transactions that enable better monetization and lower risk.
MSME lender and lending-as-a-service platform
SMECorner provides affordable long term secured and unsecured credit products to MSMEs in India, a segment that has been underserved by the traditional financial system.
Full-stack "one stop" insurance shop
Sunday offers end-to-end insurance products and services powered by its machine-learning risk prediction engines, aiming to serve all of its customers as the “one-stop insurance shop” for whatever insurance they need, be it healthcare, mobile gadgets, motor vehicle or travel insurance.
Data underwriting for mobile financial services
Tiaxa provides a balance advance service for prepaid mobile phone users based on a proprietary cell phone behavior scoring model that provides users with a money advance when faced with insufficient funds in their prepaid account.
Enabling mobile payments for SMEs
Yoco is addressing South Africa's large card acceptance gap (high penetration, low card acceptance) by providing mobile point-of-sale (mPOS) devices. online payment options and support to small merchants that unlock growth.
Mobile payments and agent network
Zoona is a distribution business that works with partners to bring reliable financial services to underserved communities in Africa. Zoona's product Tilt connects distribution partners and agents to enable bulk collection and payments.
B2B cross-border payments platform
Verto is an FCA-regulated B2B cross-border payments platform helping businesses move money across borders seamlessly and instantly. With a focus on emerging markets, and Africa specifically, the company is solving a critical industry problem in a massive market, building the technical and regulatory infrastructure to enable instant B2B cross-border payments.
B2B commerce and fintech platform
Capiter is a B2B commerce platform and financial service provider that facilitates supply chain fulfillment, payments and credit for small retailers in Egypt. The company was founded to solve pain points for all stakeholders across the region’s FMCG value chain, focusing particularly on the vastly underserved base of FMCG enterprises.