Analog Groups - Going the Way of the Dodo?
If we are to believe the investment itch to fund all things digital, savings groups go the way of vacuum tubes, i.e. they will become ancient history. Accion through its Venture Labs is investing part of its $10 million capital base into Emoneypool, a digital platform for Savings Circles (aka savings groups). The investment will somehow need to pay off and at this stage it seems like a 5% service fee will be the key. Time will tell. Until then get rid of those rusty locks and heavy boxes. Help - albeit extre expensive help - is on the way.
Thanks for posting that, Kim.
I see in the press release that "Accion's Frontier Investments Group invests in more established but similarly disruptive early-stage companies with demonstrated revenue traction." If I understand whatever language that is written in, "demonstrated revenue traction" means that some bright probably 20-something-probably-male-probably-MBA thinks he has found a way to get the money out of the boxes and into his pockets. Or - is that a cynical stereotype?
There's nothing wrong with digital (he says, writing on his laptop). The issue I think is some insecurity on the part of finance people that folks might manage their own money. Give them digital aids, if they are useful, but don't take their money.
Wed, March 26, 2014 | Paul Rippey
Is this the same ACCION that made a $1m investment (of USAID taxpayer funds) in the Compartamos MFI (Mexico) in 1999 and when Compartamos transformed into a publicly-listed stock/share company in 2007 walked away with both $150m in cash and $150m in Compartamos shares?
Tue, April 1, 2014 | Greg Pirie