37584 - Afluenta

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Summary of Investment Information

Project Number

37584

Company Name

AFLUENTA S.A.

Date SPI Disclosed

Nov 30, 2015

Country

Argentina

Region

Latin America and the Caribbean

Projected Board Date

Dec 31, 2015

Environmental Category

C - No Impact

Status

Completed

Last Updated Date

May 19, 2022

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Jan 27, 2016
Signed : Mar 1, 2016
Invested : Mar 28, 2016

Sector

Virtual lending, P2P, crowdfunding

Project Description

Afluenta (or the “Company”) is a lending marketplace marketplace in Argentina, connecting individual and institutional lenders with borrowers, eliminating the middleman and reducing costs. IFC’s investment will help the Company to consolidate its leadership position in Argentina and to expand into Peru, Colombia and Mexico.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	4.0

Development Impact

Afluenta offers unbanked and underbanked consumers the ability to get access to credit more efficiently and at rates lower than otherwise available to them by scoring and matching these customers with lenders. This highly developmental model has the potential to significantly increase access to financial services and could help close the income gap in several emerging economies, and promote low cost financial services through innovative delivery channels, saving people time and money and financing costs.

1. IFC''s Global expertise and presence: Afluenta will benefit from IFC''s global expertise and knowledge in the FinTech sector. IFC will also add expertise with financial service regulation, which should enable the company to better manage its risk and tailor its services across each country. In this respect, IFC will be able to support the company''s geographic expansion plan.
2. Network of Financial Institutions, Investors and Regulatory Agencies: Through an IFC investment, the company will gain access to IFC''s network of financial institutions and financial investors, e.g. Funds & facilitating potential partnerships; and as a member of the World Bank Group, has the ability to play honest broker and faciliate regulatory discussions.
3. Stamp of Approval: An involvement from IFC would give credibility to innovative models that have the pontential to significantly expand access to financial services to underserved in emerging markets; will also help to faciliate connect funders/investors in the marketplace.
4. Access to patient capital: As a more patient capital investor, IFC will be able to support an exciting young company expand financial services throughout Latin America to un and underserved populations.

E&S Category Rationale / Risks and Mitigation

At appraisal, it was found that Afluenta leases office spaces as needed and has no significant fixed assets, and no change in this pattern is expected. Therefore, environmental and social risk is expected to be low in this project, and it is classified as Category C. Afluenta may still be required to include incorporate in its platform an element to screen borrowers for its larger loans against IFC’s exclusion list, and will be required to implement policies and procedures for managing human resources and worker health and safety in compliance with IFC’s Performance Standards.

Contacts

For Inquiries About the Project, Contact

Gonzalo C. Arauz
Investment Officer, Telecom, Media & Technology and Venture Investing
International Finance Corporation
The World Bank Group
+54 11 4114-7232
mailto:garauz@ifc.orghttp://www.ifc.org

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Local Access of Project Documentation

Afluenta
Avenida Dorrego 1789
5th floor, office 503
Buenos Aires
Argentina
Telephone: +54 11 5219-6655
http://www.afluenta.com
Attention: Mr. Alejandro Cosentino, CEO & Funder.

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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