LEAPFROG LABS LIMITED
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
The project Beneficiary is BIMA AB, an investee of FMO-Client, Leapfrog Investment Fund (ex-Massif). BIMA is a global microinsurance leader that uses mobile technology to deliver affordable insurance and health products to low-income families who cannot access these vital services through traditional channels. BIMA has reached over 27 million subscribers, over 75% of which are using insurance for the first time. BIMA operates in 16 emerging markets in Africa, Asia and Latin America employing around 3,500 people of which approximately 50% are female.
What is our funding objective?
While 50% of BIMA’s employees are women, they are underrepresented at the local management level. BIMA asserts that this bias is the result of cultural norms in emerging markets, where there is a prevailing belief that women cannot or should not be leaders. BIMA aims take a leadership stance, by creating a workplace in which women are respected, supported and developed into a new generation of pioneering business leaders.
Why do we fund this investment?
The project is highly strategically relevant; BIMA is an inclusion-driven Fintech primarily operating in FMO’s core regional focus areas of Africa and Asia. Furthermore, the gender component is central to FMO’s strategy as well as the aims of the BCD program.
More investments
| Date | Total FMO financing |
|---|---|
| 2/21/2017 | EUR 0.12 MLN |
| 9/1/2016 | EUR 0.20 MLN |
- Country
- Global
- Sector
- Financial Institutions
- Effective date
- 11/24/2017
- End date
- 1/14/2020
- Total FMO financing
- EUR 0.10 MLN
- Funding
- ForeignAffairs - CD