Emerging market fintech
Founded in 2011, MyBucks (MBC) has been profitable at the operational level since its second year of operations, providing microloans via the internet primarily to low- and middle-income customers in sub-Saharan Africa. With smartphone ownership ahead of bank account penetration in many countries in the region, MBC seeks to use the internet to gain access to a large population with an increasing demand for small loans and other financial services. It has recently expanded into Australia and a deal with Opportunity International will provide access to new African markets too.MyBucks SA. MyBucks SA is a Luxembourg-based company primarily engaged in the consumer lending sector. The Company is a financial technology (FinTech) entity, which focuses on distributing financial products through online platforms. Its products and services portfolio comprises: GetBucks, which offers short-term single payment loans, installment loans and other credit-related services; GetSure, which provides insurance cover, including life, funeral and health insurance, among others, and GetBanked, which offers saving accounts, mobile payment transactions, credit card transactions, as well as access to banking, credit and insurance portfolio in an online tool, among others. The Company aims at low- and middle-income consumer segment, mainly in emerging markets. It operates in a number of European and South African countries, such as Spain, Poland, Zimbabwe, Kenya, Botswana and Uganda. It operates through New Finance Bank Malawi Ltd, a Lilongwe-based commercial bank.
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