As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record of empowering people to employ their skills and improve their quality of life. Each month we give an overview of the transactions we have signed.
NeoGrowth Credit Private Limited
Expanding access to finance for underserved MSMEs in India
NeoGrowth Credit is an MSME-focused digital lender in India that uses technology and data-driven underwriting to provide financing to entrepreneurs that can be underserved by traditional financial institutions. FMO made a USD 7.5 mln follow-on investment as part of a USD 9 mln investment round alongside LeapFrog Investments. The investment supports NeoGrowth’s continued growth, including strengthening its digital lending platform and expanding access to finance across existing and emerging markets. NeoGrowth has served more than 400,000 customers, including first-time entrepreneurs and small businesses with limited formal financial track records
UGRO Capital
Expanding access to finance in India
UGRO Capital is an MSME-focused lending platform in India. FMO provided USD 30 mln in financing through a Non-Convertible Debenture to support lending to women-led, youth-led and rural MSMEs, as well as eligible Green projects. The Green and Reducing Inequalities financing will expand access to formal credit for underserved businesses across India and support UGRO Capital’s continued MSME lending.
Garanti Finansal Kiralama
Supporting green finance in Türkiye
Garanti Finansal Kiralama A.Ş. (Garanti Leasing) is one of Türkiye’s leading leasing institutions and a subsidiary of Garanti BBVA. FMO provided a EUR 30 mln, five-year bilateral loan facility, renewing a relationship that began in 2017. The investment is earmarked for eligible projects in renewable energy, energy efficiency and other sustainable assets, helping businesses improve productivity and resource efficiency while supporting Türkiye’s climate transition. The facility also provides long-term foreign currency funding to support Garanti Leasing’s funding diversification and continued financing of productive assets for SMEs and corporates.
Ueno Bank
Expanding financial inclusion in Paraguay
Ueno Bank S.A. is a universal bank in Paraguay with a digital-first business model and a 9% market share. FMO provided a USD 40 mln senior loan to support the bank’s lending to micro-entrepreneurs across the country. By expanding access to finance for this underserved segment, the Reducing Inequalities investment supports Ueno Bank’s role in advancing financial inclusion in Paraguay.
Armada Foods
Increasing food processing capacity in Türkiye
Armada Foods is a leading processor, trader and exporter of pulses and grains, and one of FMO’s Key Accounts in Türkiye. FMO participated as Lead Arranger and Lender in a USD 110 mln financing package alongside Proparco as co-Lender and Nations Trust Bank as Participant. The Green and Reducing Inequalities financing supports investments in processing, storage and value-added production capacity in Türkiye, as well as Armada Foods’ broader growth in regional and international markets.
Ivory Cocoa Products
Supporting local cocoa processing in Côte d’Ivoire
Ivory Cocoa Products is one of Côte d’Ivoire’s leading cocoa processors and the largest locally owned player in the sector. FMO provided a EUR 20 mln senior secured financing package comprising a EUR 15 mln committed working-capital facility and a EUR 5 mln uncommitted tranche. The Green financing supports the company’s working-capital needs in a volatile cocoa market, reinforcing a locally owned participant in Côte d’Ivoire’s cocoa processing industry.
