EMEA Capital recently announced that it made a significant investment in the London-based fintech company Moneybaba. Headed by investment veteran Osman Semerci, EMEA Capital is excited to expand its investment portfolio to include a revolutionary range of finance products geared for the emerging markets.
Transforming Finance in Africa and Latin America
Launched by Marcelo Barreneche, Moneybaba aims to challenge traditional lending practices and offers financial services to people with a limited financial record. The company is mainly focused on the emerging markets in locations across Africa and Latin America. A significant share of people who reside in these regions do not have bank accounts or financial histories and are thus financially limited. Moneybaba intends to drastically improve access to credit through the use of technology. The company hopes to achieve its objectives by operating digitally and keeping expenses low.
Moneybaba offers digital loans of up to $10,000 at competitive rates. Loans are available instantly, and clients have the option of paying back what they borrow in up to 24 months of monthly installments. Loans are also available from selected vendors in physical locations through POS systems. Besides loans, Moneybaba clients also benefit from a useful price-comparison tool whereby they fill in a form and receive offers from a variety of lenders. This saves them the time and effort to contact each potential lender individually.
Because of the behavioural-analysis technology used by Moneybaba, borrowers can apply and receive an answer to their application in minutes. Moneybaba’s advanced credit-scoring system analyses the potential borrower’s digital footprint by using big data and machine technology. This tracks down patterns across alternative online data points and applies a credit score based on this data. The company is constantly researching new ways in which to improve financial inclusion. The ultimate goal is financial freedom for all.
With the investment made by Osman Semerci and EMEA Capital, Moneybaba plans to expand operations to include other regions across the globe.