OnlineKazFinance, a microfinance organization (MFO) operating under the Solva brand, has raised $5 million in the first tranche from the global investment fund BlueOrchard. The company will lend these funds to small and medium-sized businesses throughout Kazakhstan.
Before issuing the loan, BlueOrchard conducted due diligence, confirming that Solva fully meets the investment fund’s standards.
Since 2016, more than 83,000 Kazakhstani entrepreneurs have used Solva’s services. Over the past four years, the company has issued business loans totaling $2 billion. Interestingly, more than 70% of the company’s clients are female entrepreneurs. As part of its client-oriented approach, the MFO has been...