Closing the remaining gaps in global financial inclusion

  • Some gaps are closing... the global share of adults with a bank account at a financial institution or through a mobile money service grew seven percentage points to 69% since 2014.
  • Gaps persist: Women remain nine percentage points less likely than men to have a bank account in emerging markets.

TPG puts $1 billion behind $1.9 billion Baidu fintech spinoff

  • Is this impact?… Lack of standardized credit scoring and reporting has limited access to credit and debt for low- and middle-income Chinese. Baidu is a part of the World Bank’s Universal Financial Access 2020 initiative.
  • TPG in Asia… The deal is the Rise Fund’s first China-based investment and the first for Chang Sun, the former Warburg Pincus executive who joined TPG as managing partner in China last year.

Bill Gates, Dell Foundation back Unitus Ventures’ second fund

  • First fund… Unitus Seed Fund closed its first $20 million in 2014. Unitus Ventures plans to increase its second fund’s average deal size from its first fund.
  • Coming back for more… Gates was an investor in the first fund, as were wealthy individuals, who collectively committed $7 million.

Chinese investor and Goodwell Investments back MFS Africa to speed business transactions

Tala raises $65 million for alternative credit scoring and mobile lending

  • Growth capital... The $65 million Series C round was backed by Revolution Growth — the growth-capital fund of Steve Case’s Revolution Ventures — along with IVP, Data Collective, Lowercase Capital, Ribbit Capital and Female Founders Fund. The company has raised $105 million in total to date.
  • New markets... Tala will expand to Mexico and India.