ImpactAlpha, February 12 – Blue Like an Orange Sustainable Capital, the debt fund founded by former World Bank officials to finance the Sustainable Development Goals, has closed its second deal (see, âBlue like an Orangeâs first loan goes to small-business lender Produbanco in Ecuadorâ).
Cabify, founded in Madrid, operates in 10 Latin American countries as well as Spain and Portugal. Blue Like an Orangeâs Suprotik Basu told ImpactAlpha that Cabify committed to measure improvement in road safety and carbon reduction, and to improve safety for women riders and to hire women as drivers.
The fund committed $30 million in mezzanine debt to go with $40 million from IDB Invest, an arm of the Inter-American Development Bank. For growing businesses, such âstructured financingâ can bridge the gap between equity investment and commercial debt.
- Agent of Impact. The former chief financial officer of the World Bank, Blue Like an Orangeâs Bertrand BadrĂŠ published a book last year, âCan Finance Save the World?â Follow ImpactAlpha on Instagram.