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Turkish online-payments firm Iyzico raises $15 million to fund Middle East expansion

Istanbul-based Iyzico was launched in 2012 to help merchants take advantage of Turkey’s large online customer base. It has since expanded across the Middle East, where it was the first international payments platform to integrate businesses from Iran. It plans to use the funds to expand further into new Middle Eastern markets and to Europe. With more than

IDEO wants to increase opportunities for people living with disabilities

About a billion people around the world live with disabilities, and a disproportionate number live in poverty. They also face limited access to health, education, livelihood opportunities, fair wages, and support. Some of these areas have seen progress — even some breakthrough innovations. Although disability shows up in multiple Sustainable Development Goals, too few resources and investments are

Colombia launches social impact bond to jumpstart employment

Colombia launches social impact bond to jumpstart employment The Colombian and Swiss governments are backing a 2.2 billion peso ($765,000) program to offer skills training to 514 vulnerable, poor, and unemployed people in the cities of Bogotá, Cali, and Pereira. Colombia is grappling with nine percent unemployment; the rate is higher among low-skilled and vulnerable people,

Arts and culture are ready for investors, say Calvert Foundation and Upstart Co-Lab

Arts and culture are ready for investors. According to a new report, the creative economy is more than $704 billion in the U.S. alone — more than four percent of national GDP. But the share of “creative” impact capital registers as zero. It isn’t because impact investors aren’t committing to creative endeavors; rather, most of the investments are

Ford Foundation to tap endowment for $1 billion to fight injustice and inequality

A billion here, a billion there, and pretty soon we’re talking about a new way to use market forces to combat poverty and injustice. That’s the hope of the Ford Foundation, which today announced that its trustees have authorized $1 billion in “mission-related investments” from its $12 billion endowment. The initial investments will be made

LISC offers first CDFI bond to bring private capital to low-income communities

It’s a strange time to have a landmark day for U.S. community development financing. Crucial community development programs at Housing and Urban Development, the Treasury Department and the Department of Agriculture are on the budget chopping block. That makes it all the more significant that the Local Initiatives Support Corporation, or LISC, is today announcing it

CARB-X puts up $24 million to develop new antibiotics

CARB-X, a biopharma accelerator, is backing 11 companies with the funds, including three that are developing new strains of antibiotics. The increase in antibiotic-resistant bacteria — largely due to over-prescription of antibiotics and their excessive use in animal agriculture — is a worrisome development for global health. CARB-X launched last year as a partnership between the U.S. Department of Health