back Back

IFC funds LeapFrog To boost growth of Financial services in Africa & Asia

By Gloria Mathias

October 09, 2023

  • Africa
  • Africa News
  • Asia

IFC, Interntional Finance Corporation, World Bank, Leapfrog, Investment Fund, Asia, Africa, SEA, IFC (International Finance Corporation) has announced an investment in a new fund by LeapFrog Investments, a private equity group to improve health and financial services firms’ access to growth capital and support job creation in Africa, South Asia, and Southeast Asia,

IFC is making a $50 million equity investment in LeapFrog Emerging Consumer Fund IV LP, which targets $1 billion in commitments and will represent the largest offering by LeapFrog to date. IFC’s investment in the fund will be made along with an additional $50 million, which will allow IFC to selectively invest alongside the fund in Leapfrog portfolio companies.

The fund will focus on growing businesses in healthcare and financial services by helping companies adopt digital solutions and offer new products that can reach underserved segments of the population. In addition, IFC will work with LeapFrog to improve gender diversity at the fund manager level and the companies the fund will invest in.

“We are delighted to deepen our relationship with IFC, which shares our ambition to generate life-changing social and environmental impact, as well as robust financial returns, in growth markets,” said Andy Kuper, Founder and CEO of LeapFrog. “IFC’s support over multiple fund vintages and as a regular co-investor constitutes a powerful endorsement of LeapFrog’s distinctive team and of our Profit with Purpose strategy for accessing opportunities across Africa, South Asia and Southeast Asia.”

“The project will support private sector growth in Africa and Asia, bridge the investment gap in healthcare in emerging markets, and further accelerate financial inclusion across these regions,” said William Sonneborn, IFC’s Global Director of Disruptive Technologies, Creative Industries, and Funds.

In addition to its fund commitments, IFC has provided $64 million to five companies backed by LeapFrog’s funds in Africa and Asia, including the largest genomic medicine company focused on emerging markets, MedGenome, and fast-growing Vietnamese bank, HDBank.

Previous Article

October 09, 2023

Trust Payments partners John Bell & Croyden for improved checkout experience

Read More
Next Article

October 09, 2023

TransUnion partners with Tymit to help mitigate fraud risks

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024


Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Nuvei and Mastercard team to enable crypto to fiat conversion

Read More


SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

July 11, 2024

BR-DGE launches white-label payment orchestration solution

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024