Novica connects more than 19,000 artisans worldwide with international markets and provides no-interest microfinancing through Kiva. It has arranged nearly $81 million in payments to artisans (National Geographic is a partner).
Now, impact investor Global Partnerships is providing $750,000 in financing through its Artisan Market Access initiative, which seeks to improve livelihoods for craftspeople who typically earn less than $10 a day (see“Global Partnerships blends finance to deliver for the poor and for investors”).
In July, Global Partnerships committed $2 million to development organization BRAC to support low-income women entrepreneurs in Tanzania and Uganda and $100,000 to mobile education startup Arifu.
