Netherlands based microfinance credit provider Oikocredit has raised $2.1m in venture funding from undisclosed investors. Oikocredit is a worldwide cooperative and social investor, providing credit and equity to microfinance institutions.
Debt and equity investments by Oikocredit, a Netherlands-based cooperative, help to finance microfinance institutions and small businesses in agriculture, renewable energy and infrastructure that are working to meet 16 of the 17 U.N. Sustainable Development Goals. Last year, the co-op’s portfolio grew 16% to €1.05 billion ($1.1 billion), including a 19% bump in Africa, according to results released in March. Oikocredit raises capital from institutions and individuals (the firm boasts 54,000) through the sale of depository receipts in the Oikocredit International Share Foundation; investors earn an annual dividend. The firms says that 80% of the capital it raises is invested within three months and that its efforts reach 40 million people in 70 countries. The new funds were raised last year by Oikocredit’s U.K. and Ireland office, with the help of ClearlySo, a London-based impact investment bank.