Omidyar Network’s heritage and approach make it a natural partner for Kiva; their funding helps position us to further our work and amplify our social impact.
Kiva connects a global community of online lenders and entrepreneurs to bring microfinance to both established and underserved markets around the world.
Kiva created the world’s first online microlending platform, connecting individual lenders to entrepreneurs with limited access to financial services. Kiva partners with microfinance institutions, who post potential borrowers to the Kiva website. Lenders can then search and select which entrepreneurs to fund. Since October 2005, the Kiva community has lent more than $150 million to nearly 400,000 entrepreneurs globally.
More than 2 billion people lack access to formal or semi-formal financial services, inhibiting their ability to stabilize income, build up assets, and plan for the future. With its technology-driven approach, Kiva has been a leader in bringing awareness of microfinance to the mass market and enabling significant capital flow to those who need it. With Omidyar Network’s support, Kiva will further develop its technology platform, expand its network of field partners, and invest in its due diligence and monitoring capabilities across its growing portfolio.