PROJECT

Projects

Summary of Investment Information

Project Number

43071

Company Name

Carabao Capital Global Pte Ltd.

Date SPI Disclosed

Apr 23, 2024

Country

Philippines

Region

East Asia and the Pacific

Projected Board Date

May 17, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jul 27, 2024

Department

Disruptive Technologies and Funds

Industry

Financial Markets

Previous Events

Approved : Jun 13, 2024
Signed : Jun 28, 2024
Invested : Jul 25, 2024

Sector

Virtual lending, P2P, crowdfunding

Project Description

The proposed project is an equity investment by IFC of up to US$7 million in Carabao Capital Global Pte Ltd., currently operating in the Philippines under the brand name “First Circle” (the “Company”). With data and technological edge as the cornerstone of First Circle's strategy, the Company is providing unsecured credit lines to SMEs with competitive rates, flexible repayment options, and the convenience of fast digital operations, in a country that has one of the lowest SME credit penetrations in South-East Asia.      

Associated Advisory Engagement

                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation