Maj Invest is pleased to announce the second closing of Maj Invest Financial Inclusion Fund III with additional USD 7 million, and now totaling a commitment of USD 144 million. Maj Invest Financial Inclusion continues its strategy of investing directly with growth equity in the top segment of financial institutions servicing a client group of 3-4 billion people below the middle class in selected countries in Latin America, Africa and Asia, with focus on India.
The Covid-19 crisis obviously also influences the financial inclusion industry, impacting profitability and liquidity in the short term. However, in the longer term the industry is expected to bounce back reasonably well while demand for basic financial services, increasingly provided by fintech and digital solutions will continue and be an important parameter for restoring economic growth.