Abler Nordic's Impact Report Q3 22
This quarter we examine the impact of microloans on growing businesses and increasing income, as well as an impact profile on Light Microfinance and our investees' contributions to the SDGs.
How does access to responsible financial services play a meaningful role in enabling low-income households in developing countries to build better lives?
Take a peek at our latest Impact Report! Read our full Q3 22 Impact Report here
In the report we take a look at the impact created by our investee Light Microfinance, one of the fastest-growing MFIs in India, that aims to provide relevant financial services for low-income families excluded from the formal financial system in India. In Q3 22 Abler Nordic (formerly NMI) invested USD 7.9 million in Light as part of Series-B funding round, having previously invested as part of a Series-A round in 2021.
Light's operations are underpinned by a strong technology platform and in the article they share with us some of the opportunities and challenges they are facing right now in the financial inclusion space in India.
The Indian financial services space is at the cusp of transformation. Rising smartphone and internet usage, UPI-led payments and increasing fintech are some of the great enablers.
Light Co-founder and CEO Rakesh Kumar
Diving into Business Impact - 60 Decibels Microfinance Index
Understanding how consistently financial inclusion clients are able to grow their businesses helps us understand whether loans lead to greater earnings and financial cushioning. This is one of the important questions we examine as part of our series examining insights from the 2022 60 Decibels Microfinance Index, which NMI supported four of our investees to participate in.
Advancing SDGs for Financial Inclusion
The 17 Sustainable Development Goals (SDGs) are an urgent call to action by all countries - developed and developing - to recognize that ending poverty must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change. Financial inclusion is central to achieving many of the SGDs, and in our quarterly impact reporting we track our investees' contribution to these critical goals.