Company name
RecargaPay Holdings Inc.
Project number
12106-02
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Brazil
Sector
Digital Economy
Status
In implementation
Disclosed date
03/19/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/31/2021
Approval date
08/31/2021
Signed date
10/28/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 9,000,000
Currency
USD
Project scope and objective
IDB Invest is considering an Equity Investment of up to US$10 million in RecargaPay Holdings Inc (“RecargaPay”). RecargaPay operates a mobile money platform fully integrated into payments and banking ecosystems in Brazil. RecargaPay is in the process of raising its Series C round targeting up to US$70 million, which will be used to enable further customer acquisition and new products launch.
Through this investment, IDB Invest seeks to support the further development of a mobile payment platform in the country, which has potential to provide access to a wide range of financial services to unbanked populations.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
gustavo@recargapay.com
PHONE NUMBER
+54 9 11 3789-1269
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
RECARGAPAY - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS - ESAP) MARCH
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