Financial Inclusion | November 29, 2022

Pivo scores $2 million to provide financing and tools for Nigeria’s vendors

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 29 — Pivo provides financial services and digital tools to 300 small- and medium-sized vendors in Nigeria’s manufacturing supply chains. Launched last year, Pivo has deployed more than $3 million in working-capital loans, along with digital invoice processing and tracking tools to complete over $4 million in transactions. The women-led venture says its borrowers have had a 98% repayment rate.

Financial inclusion

In a separate deal, Djamo, which provides financial services to 500,000 consumers in Ivory Coast, raised $14 million in equity. Investors include Oikocredit, Partech Africa, Launch Africa and Enza Capital. Djamo, launched last year, will use the investment to expand in francophone Africa and add investment and lending.