Proparco Backs Rubyx to Boost Microfinance and Startups Across Africa
- Proparco grants €400,000 loan to Rubyx through the Bridge by Digital Africa facility.
- Rubyx aims to accelerate the deployment of its algorithmic loan offering for start-ups and microfinance institutions in Africa.
- The funding complements previous investment rounds and aims to improve access to loan products for African VSEs and SMEs.
The partnership between Proparco and Rubyx, facilitated by the Bridge by Digital Africa facility, is a positive development for financial inclusion in Africa. The funding will enable Rubyx to expand its algorithmic loan offering, improving access to credit for African start-ups and microfinance institutions. This collaboration demonstrates the commitment of both organizations to supporting the growth and development of African SMEs, which are crucial for economic progress in the region.
