Kredits Receives USD $4.5M Investment to Develop New Microfinance Technologies and Expand Global PresenceBy Kredits, PRNE
Sunday, March 13, 2011
Industry pioneer will accelerate delivery of state-of-the-art microfinance technologies to meet growing demand for affordable and scalable microfinance solutions.
SALT LAKE CITY, March 15, 2011 - Kredits, a leading provider of technology solutions for microfinance
institutions ("MFIs"), today announced it has received a USD $4.5 million
investment from Sophia ApS, a Danish investment vehicle. Kredits will use the
investment to accelerate delivery of new technologies and expand its global
client services presence.
Since 1998, Kredits has been at the forefront of delivering
state-of-the-art and cost-effective technology solutions for the microfinance
industry. Kredits has successfully partnered with MFIs in 30 countries across
"Our innovative and highly-customizable technology solutions have already
helped many of the world's most successful MFIs build scalable and
sustainable microfinance operations. Through close collaboration with our MFI
partners, we are proud that every Kredits implementation has been completed
on-time and on-budget," said Don Eggert, CEO and co-founder of Kredits.
"We are excited about our partnership with Shailendra Robin Patel,
Founder of Sophia ApS, who helped build Saxo Bank into one of the world's
leading online financial institutions," Mr. Eggert added. "Robin's experience
in building successful financial services will strengthen our ability to meet
growing demand for business driven solutions. Our commitment is to help MFIs
accelerate their outreach in providing financial services to the world's poor
on an affordable basis."
Kredits is internationally recognised for the outstanding scalability and
reliability of its technology solutions, and its ability to conform to any
MFI's unique set of operating requirements. An acknowledged industry leader,
Kredits was one of the first solution providers to support the Grameen models
and all principal forms of microcredit, savings, insurance and livelihood
Kredits will present its solutions at the Microfinance Centre Annual
Conference in Prague on May 18-20, 2011.
About Kredits Microfinance
Established in 1998, Kredits is a premier technology solution provider to
microfinance institutions worldwide. With an outstanding implementation
record and a proven ability to support microfinance efforts in multiple
regulatory environments, Kredits has been successfully implemented by MFIs in
30 countries across 5 continents. For more information visit Kredits at
Contact: France Barral, Vice President, Operations Vikas Jhunjhunwala, Chief Consultant Tel No : +1-801-252-5282 firstname.lastname@example.org
France Barral, Vice President, Operations, Vikas Jhunjhunwala, Chief Consultant, +1-801-252-5282, info at kredits.com; Media Enquiries: +1-801-252-5282, press at kredits.com
Tags: Czech republic, denmark, Kredits, March 15, Salt lake city, Utah