Ku-bo Financiero, S.A. de C.V., S.F.P.
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Martinez Gama, Carlos
USD $ 10,000,000
Project scope and objective
The proposed financing consists of an equity investment in Ku-bo Financiero, S.A. de C.V., S.F.P. ("Kubo" or the "Company") of up to the Mexican peso equivalent of US$10 million. Kubo is a microfinance company with primarily digital operations that is regulated by the Mexican National Banking and Securities Commission. The Company offers loan, deposit and payment products through its online platform. IDB Invest's investment will consist of a subscription of the preferred shares to be issued by Kubo (the "Financing").
The Financing will serve as a stimulus to develop the fintech industry in Latin America and the Caribbean. The investment in Kubo will have strong financial additionality, as it will bolster the capital base to support the Company's growth, strengthen its IT systems and implement marketing strategies. Financing could be complemented with advisory services focused on creating inclusive financing products for Micro, Small and Medium Enterprises (“MSMEs”) and developing an alternative credit analysis system.
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