A AND B TECH LLC
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The project beneficiaries will be FMO’s FI client base in Africa plus a broad range of Fintech companies (Fintechs) and mobile money service providers in Africa. The project contracting party will be Above and Beyond (AB), a consulting firm and software developer that has developed a middleware solution that enables integration of software applications (apps) into other systems. In this instance, Fintechs, into the core systems of FIs.
What is our funding objective?
The objective of this project is to develop FMO Connect, a program that addresses the above issue of software integration and that will enrich the Fintech ecosystem initially in Africa, but with a global roadmap, by providing Fintechs, Mobile Money Service Providers (MMSPs) and FIs a platform on which they can connect.
Why do we fund this investment?
The project is highly aligned with FMO’s strategy for Fintech, and more importantly, addresses many of the needs and wishes identified in an FMO client survey on Fintech.
More investments
| Date | Total FMO financing |
|---|---|
| 7/23/2019 | EUR 0.05 MLN |
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 8/23/2017
- End date
- 11/30/2020
- Total FMO financing
- EUR 0.23 MLN
- Funding
- MASSIF