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Status: Approved investmentWhy disclosure?
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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
Hub2 ("the Company") is a finech company that provides mobile wallet accessibility and payment services in Francophone Africa.
What is our funding objective?
The FMO Ventures Program invests in early-stage tech-enabled businesses that leverage innovative solutions. FMO’s equity investment supports the Company in strengthening the organization and scaling up activities across Africa.
Why do we fund this investment?
Hub2’s solution contributes to the payment landscape in Africa, thereby promoting financial inclusion and stimulating economic growth. The Company likely benefits from being introduced to FMO’s network of (micro)finance institutions and FinTechs across Africa as well as to potential future investors.
What is the Environmental and Social categorization rationale?
Given the FinTech nature of the business, this is an E&S category C investment with no physical operations (e.g. warehouses, large workforce) and therefore E&S risks are deemed low.
- Website customer/investment
- https://www.hub2.io/
- Region
- Africa
- Country
- Côte d'Ivoire
- Sector
- Financial Institutions
- Publication date
- 7/1/2024
- Effective date
- 8/1/2024
- Total FMO financing
- EUR 2.40 MLN
- Funding
- Ventures Program Asia
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C