London-based private equity firm EMEA Capital LLP said it made a major investment in Moneybaba, a financial technology company with a focus on Latin American and African emerging markets, together with Duet Group Ltd.
Financial terms of the deal were not disclosed.
Moneybaba offers lending options to individuals with limited financial and credit history. It operates digitally but has made its products available in physical locations through agreements with local vendors. It will use the investment to launch its service in new markets and boost its balance sheet.
EMEA Capital mainly invests in financial markets, real estate and private equity.
