Gojo & Company, which has the goal of boosting financial inclusion within developing countries, has closed its Series D round on $19m.
The investment was supported by TGVest Capital, Baillie Gifford, Future Venture Capital (CVC of East Japan Bank), and a number of unnamed individual investors.
Capital from the round will be used to support the development of its divisions in Cambodia, Myanmar, Sri Lanka, and India, as well as expanding into new markets in Asia and Africa.
Gojo was founded to boost the financial inclusion rates in developing countries and is hoping of supporting more than 100 million unserved and underserved people by 2030.
TGVest Capital chairman DC Cheng said, “As a growth capital private equity fund, we are always interested in innovative businesses disrupting an industry with tech-enabled applications. Gojo represents a milestone in our quest to strengthen our Asian presence and ESG practice, and a truly remarkable one.
“Gojo’s mission to extend financial inclusion in less developed countries and its innovative approach to overcome long-existing industry bottlenecks have resonated with us from the beginning. We consider Gojo a pioneer in redefining the microfinance landscape and we believe its unique business model and tremendous growth potential make it an invaluable addition to our portfolio.”
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