Arc Finance, a leading provider of financial services for underserved populations, has announced a major milestone in its growth trajectory with a $10 million investment to expand its services. The investment, led by a consortium of impact investors including Acumen, Bamboo Capital Partners, and Triodos Investment Management, will enable Arc Finance to reach more low-income households and small businesses with its innovative financial products and services.
Arc Finance has been at the forefront of providing financial solutions to those who are traditionally excluded from the formal financial system. Through partnerships with local financial institutions, mobile money providers, and technology companies, Arc Finance has been able to offer a range of financial products, including loans, savings accounts, insurance, and payment solutions, to underserved communities in emerging markets.
The $10 million investment will allow Arc Finance to scale its operations and reach a larger number of clients in need of financial services. The funding will be used to expand Arc Finance’s network of partners, develop new products and services, and strengthen its technology platform to improve efficiency and customer service.
“We are thrilled to announce this significant investment, which will enable us to accelerate our mission of expanding financial inclusion for low-income populations,” said Niki Armacost, CEO of Arc Finance. “With the support of our investors, we will be able to reach more underserved communities and provide them with the tools they need to improve their financial well-being.”
The investment comes at a critical time, as the COVID-19 pandemic has exacerbated financial challenges for many low-income households and small businesses. By expanding its services, Arc Finance aims to help these vulnerable populations weather the economic impact of the pandemic and build resilience for the future.
“We are proud to support Arc Finance in their mission to empower underserved communities with financial services that can help them build a better future,” said Yasmina Zaidman, Director of Investments at Acumen. “We believe that by investing in inclusive finance, we can create lasting impact and drive positive change in the lives of those who need it most.”
With this new investment, Arc Finance is well-positioned to continue its growth trajectory and make a meaningful difference in the lives of underserved populations around the world. By expanding its reach and improving its services, Arc Finance is poised to be a leader in the financial inclusion space and drive positive social impact for years to come.
