Delta Partners to invest $25m into Cash Credit
Dubai, August 29, 2013
Dubai-based Delta Partners Emerging Markets TMT Growth Fund II is set to invest up to $25 million into Cash Credit and its affiliates, a Bulgaria-based provider of micro-financial services via mobile operators.
Cash Credit, which began operations in early 2012, is a consumer finance company that partners with mobile network operators to offer micro financial services to mobile subscribers. The company uses an innovative, proprietary credit scoring approach to offer consumers rapid credit decisions, with convenient service and billing through their partner operators.
Delta Capital, based in Dubai, is the investment arm of Delta Partners Group, the leading emerging markets-focused telecoms, media, and technology advisory and investment firm.
Geoffrey D Fink, managing partner of Delta Capital, said: "Cash Credit is one of the most exciting companies we have identified globally in the rapidly-growing mobile financial services sector. We believe that mobile network operators worldwide will want to capture the opportunity to conveniently offer micro-financial services to their subscribers.
“Cash Credit's proven track record of working with the two largest mobile operators in Bulgaria and its unique intellectual property and know-how in this domain make it the ideal partner for the provision of such services. We look forward to using our knowledge of the telecoms sector to actively assist Cash Credit in its plans for international expansion."
The fund's capital will be used to fund the further growth and international expansion of Cash Credit. - TradeArabia News Service