The development of the digital currency was born out of the need to provide "financial inclusion to the 36 million Nigerians who currently lack access to financial services."

The loan aims to strengthen the financial sector’s stability, integrity, and resilience; expand financial inclusion especially for MSMEs; and help climate and disaster risk finance.

According to the company MNT-Halan provides small- and micro-business lending, payments, consumer finance and e-commerce.

The IFC financing will be aimed at supporting the growth plan of Arrendamás, focusing on increasing both the placement of products, as well as the diversification and quality of its credit portfolio.

Woccu expects financial inclusion to be a priority for the Indian G20 presidency, and for it to be expressed in the Leaders’ Declaration. 

The partnership will give the bank an opportunity to expand their digital outreach and bring the unbanked population into the financial ecosystem in an efficient manner.

Fulton Bank has helped facilitate more than $968 million in loans to more than 5,700 homebuyers under the Closing Cost Assistance Program, and that cumulative total is on track to hit $1 billion in loans in 2023

The $3 million seed extension round was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round.

The subject gained prominence during an event hosted by UAE based LuLu Financial Holdings and Eastnets in Davos.

The new loan will increase access to payment systems for Colombians, in addition to promoting greater competition in the industry in favor of consumers.