We are delighted to announce that this week, VEF AB (publ) (“VEF”), successfully issued SEK 500m of sustainability bonds to invest in financial inclusion. The investment mandate of the capital raised is laid out in our Sustainability Bond Framework, attached, and to be found at www.vef.vc. The net proceeds will be used in accordance with our Framework, which is focused on financial inclusion and wellbeing of consumers and MSMEs across emerging and frontier markets.

The bond issue was well received by Nordic institutional and retail investors and included large local investors like SEB Investment Management and Atlant Fonder.

In large parts of the emerging world, financial services for consumers and MSMEs are largely either unavailable, of poor quality and/or discriminately expensive. Since inception, VEF has invested in fintech companies contributing to development of society and small businesses across the Emerging World. At the same time, much of our capital deployed, via our portfolio companies is helping to solve for fundamental issues like poverty, diversity, and equality.

Digital financial services, such as mobile wallets, electronic payments, fintech apps and digital credit services have proven to reach people previously excluded from basic banking. Many of the companies that we invest in and sit on the boards of, are pioneers of financial inclusion for the under-and-unbanked (Jumo and Konfio), while others are driving down the price of financial services to their markets/segments of focus (Creditas, Rupeek).

Helena Caan Mattsson, Head of Sustainability comments:

“This sustainable bond is an important step in our deepening work with sustainability. We are strong believers in fintech as a means for financial inclusion. We are very proud of the impact our portfolio has on the financial inclusion of people and MSMEs in EM and the role we play in this.”

Dave Nangle, CEO says:

“We are proud that our capital is having a positive impact on access to fair and affordable financial services across the emerging world, while staying true to our mandate of delivering a healthy return for our investors. We are grateful for the backing we received from some of the largest financial institutions in the Nordics in raising this dedicated money.”

For further information please contact:

Henrik Stenlund, CFO: +46 (0) 8-545 015 50

About Us

VEF AB (publ). is an investment company whose Common Shares are listed in Sweden. We invests in growth stage private fintech companies, take minority stakes and are active investors with board representation in our portfolio companies, always looking to back the best entrepreneurs in each market. We focus on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. VEF trades in Sweden on Nasdaq First North Growth Market under the ticker VEFAB. For more information on VEF, please visit http://www.vef.vc.
 
VEF's Certified Adviser on Nasdaq First North Growth Market is Aktieinvest FK AB, +46 8 506 517 03, rutger.ahlerup@aktieinvest.se.

Attachments

VEF Sustainability Framework

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