Who owns paypal 202112/24/2023 ![]() In addition to these investments, PayPal has forged other partnerships as part of its $108 million commitment. PayPal’s investment serves as a powerful endorsement of the work our portfolio companies are carrying out to empower women and girls in emerging markets worldwide,” said Monica Brand Engel, Co-Founder and Managing Partner, Quona Capital. “We have witnessed firsthand the transformative power of digitizing payments in enhancing financial security, resilience, and utility in emerging economies. In India, it has backed Chennai-based fintech startup CreditMantri, Mumbai-based non-banking financial company NeoGrowth, wealth management platform Fisdom, digital payments startup Rupifi, agritech startup Arya, MSME banking app Mewt, among others. Its portfolio companies in Southeast Asia include sharia fintech lender ALAMI, digital commerce and fintech Ula, digital consumer lender JULO, and book-keeping startup BukuWarung, among others. Quona Capital has been an active investor in India and SE Asia. In November later year, Quona Capital finalised its third fund at $332 million, surpassing its initial target of $250 million with the backing of Singapore state investor Temasek Holdings, European asset manager Golding Capital Partners, and global investment firm Cambridge Associates, among others. Munich’s Golden Capital Partners has committed to the fund, from its impact investing programme. Quona Capital, meanwhile, is a US- and India-headquartered emerging markets-focused investor that backs fintech founders.Īccording to media reports, Quona was targeting $70-75 million for the Opportunity Fund. “… PayPal recognises gender-smart investment as the next wave of opportunity, and a way to deliver robust financial returns and societal dividends.” “PayPal has long been an innovation leader and trailblazer at the intersection of technology and finance,” said Jennifer Buckley, Sweef Capital’s managing director. Sweef focuses on Vietnam, Indonesia, and the Philippines. The debut fund-anchored by the Danish pension fund PBU-made its first investment, of $5 million, in May 2023, in TEKY, a Vietnam-based technology company that is pioneering a science, technology, engineering, arts and mathematics (STEAM) curriculum through its own centres across the Vietnamese school system. Sweef invests $5-10 million per deal in Ebitda-positive growth businesses. Its target companies are ones whose workforces are primarily women, or ones who produce goods and services to meet the unmet needs of women and girls, or companies that promote gender equality and diversity in their organisations. ![]() Last month it secured the fourth close of its maiden fund-Sweef fund-at over $37 million. The fifth and final close of the $80 million vehicle is planned for the fourth quarter (Q4) of this year, Jennifer Buckley, Managing Director, Sweef Capital had told DealStreetAsia. Sweef Capital is a Singapore-based impact investor, founded in 2021, whose investment approach is to look for opportunities in women-led or women-owned companies. “When women are economically empowered, they not only elevate themselves-they also enrich their families and communities, and propel the global economy forward,” said Gabrielle Rabinovitch, PayPal’s acting chief financial officer and SVP, Investor Relations and Treasurer. ![]() The investments are part of its commitments under the 2021 UN Generation Equality Forum. PayPal said that this is the first of the over $100 million in capital investments that it plans to make into funds and other initiatives that are women-led or women-focused. The value of the investments was not disclosed. Nasdaq-listed payments giant PayPal has made investments in Sweef Capital’s Southeast Asia Women’s Economic Empowerment Fund (Sweef) and the Quona Opportunity Fund by Quona Capital to support their common mission of bringing more gender equality in the global economic and financial system. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |