A AND B TECH LLC
Status: Completed investmentWhy disclosure?
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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
Vitas Group (“Vitas”) is a Global Communities enterprise established in 2006 to own and operate Global Communities’ commercially oriented microfinance institutions. Vitas is the largest commercial network of MSME lending companies in the Middle East and is the first investment vehicle of its kind in the region. Contracting is with AandB Tech LLC (Finconecta), Digital Strategy Consultants and Fintech.
What is our funding objective?
The aim of this project is to provide strategic guidance to senior management to local teams in order to build the technology management capacity of subsidiaries and its IT support unit in Serbia.
Why do we fund this investment?
The project is highly relevant to FMO, given the focus on digitally enabled microfinance in the MENA region, a key frontier for FMO going forward.
More investments
| Date | Total FMO financing |
|---|---|
| 11/30/2020 | EUR 0.23 MLN |
- Country
- Global
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 3/12/2019
- End date
- 7/23/2019
- Total FMO financing
- EUR 0.05 MLN
- Funding
- MASSIF