Social Entrepreneur Founds Microfinance Firm
Ever thought about what business to start? MPOWER Ventures is a microfinance firm co-founded by social entrepreneur Roy Sosa which is on track to achieve its goal of delivering financial services to 5 million underserved consumers in five years. Since making that commitment in 2008, MPOWER Ventures and its portfolio companies Rev Worldwide and MPOWER Mobile have established a global presence and are powering integrated prepaid cards and mobile payments programs in markets worldwide, including Australia, India, Kosovo, Mexico, Romania and the US. The partners plan to accelerate their progress by focusing on the lack of affordable options available to merchants in underserved markets for accepting cash alternatives at the point of sale. Millions of merchants around the world conduct billions in sales almost exclusively in cash because it’s the only convenient and universally accepted payment form that they can accept.