Accion, a US-based microfinance company, has invested $1.9m in CrediConfia, a microfinance company focused on east-central Mexico.
Accion has secured a 9% stake in CrediConfia and a board seat. It has also secured a three-year service contract providing governance, management and technical support.
This includes deployment of Accion’s credit technology. CrediConfia serves 21,500 clients through a network of 25 branches covering the states of Mexico, Puebla, Hidalgo and Michoacan.