Investment: $5M grant
Portfolio: Scaling Capital
Investment date: December 2018
Region(s) served: Global
Sector: Financial Inclusion
Core Impact Metric: Access to formal financial services
How a flexible $5 million grant helped Kiva build the next-generation credit system for Sierra Leone and beyond
Over the last 13 years, Kiva has crowdfunded more than $1.2 billion in loans for underserved people in more than 80 countries. Kiva’s newest product, Kiva Protocol, is a digital identification and credit data system that uses distributed ledger technology (DLT) to provide financially-excluded and underserved people around the world with secure ownership of their financial identity and credit information, as well as a clear a pathway to accessing critical financial services.
Why Rippleworks Invested:
Kiva had the opportunity to partner with the government of Sierra Leone to launch Kiva Protocol at national scale, but, the risks associated with its initial implementation as a pilot program represent a significant barrier for traditional funders in the social impact sector. Moonshot ideas like Kiva Protocol require flexible, venture-first funders who shape their support to meet ventures’ unique needs.