Japan-based microfinance player gets $47m Series E

There were 21 participants in the round. Among them were several existing investors such as GMO VenturePartners, TGVest Capital, and Translink Capital Partners, while the company’s new backers include ACA Investments, QR Investment, SMBC Nikko Securities. Miyagin Venture Capital, Samurai Incubate, Sumisho Venture Partners, and Global Brain were also named as investors.

Gojo, which now has USD 702.8m in assets under management and extended credit to more than 1.39m customers, focuses on lending to micro, small, and medium-sized enterprises (MSMEs). Its long-term goal is to provide high-quality affordable financial services for 100m unserved and underserved people in 50 countries by 2030.

The new capital will go towards strengthening the financial foundations of group companies – it operates in each jurisdiction through a stand-alone entity – supporting post-pandemic recovery, promoting the digitalisation of operations, and exploring expansion in Asia and Africa.

Following its Series D round in late 2020, Gojo increased its holding in India-based Satya MicroCapital to 66.66% and acquired a majority interest in Humo, one of the fastest-growing microcredit players in Tajikistan. Earlier this year, it invested in MyShubhLife, a full-stack financial services platform in India.

Gojo claims to have posted financial income growth of 100% in each of the past five years. Meanwhile, delinquency ratios are low in part thanks to digitised operations, according to a statement.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• North Asia
• South Asia
• Southeast Asia
• Central Asia
• Financials
• Expansion
• Japan
• Sri Lanka
• Myanmar
• Cambodia
• India
• Financial Services
• Translink Capital
• ACA Investments
• Global Brain Corporation
• GMO Ventures