Kredits Receives USD $4.5M Investment to Develop New Microfinance Technologies and Expand Global Presence

SALT LAKE CITY, March 15, 2011 /PRNewswire/ --

- Industry pioneer will accelerate delivery of state-of-the-art microfinance technologies to meet growing demand for affordable and scalable microfinance solutions.

Kredits, a leading provider of technology solutions for microfinance institutions ("MFIs"), today announced it has received a USD $4.5 million investment from Sophia ApS, a Danish investment vehicle. Kredits will use the investment to accelerate delivery of new technologies and expand its global client services presence.

Since 1998, Kredits has been at the forefront of delivering state-of-the-art and cost-effective technology solutions for the microfinance industry. Kredits has successfully partnered with MFIs in 30 countries across five continents.

"Our innovative and highly-customizable technology solutions have already helped many of the world's most successful MFIs build scalable and sustainable microfinance operations. Through close collaboration with our MFI partners, we are proud that every Kredits implementation has been completed on-time and on-budget," said Don Eggert, CEO and co-founder of Kredits.

"We are excited about our partnership with Shailendra Robin Patel, Founder of Sophia ApS, who helped build Saxo Bank into one of the world's leading online financial institutions," Mr. Eggert added. "Robin's experience in building successful financial services will strengthen our ability to meet growing demand for business driven solutions. Our commitment is to help MFIs accelerate their outreach in providing financial services to the world's poor on an affordable basis."

Kredits is internationally recognised for the outstanding scalability and reliability of its technology solutions, and its ability to conform to any MFI's unique set of operating requirements. An acknowledged industry leader, Kredits was one of the first solution providers to support the Grameen models and all principal forms of microcredit, savings, insurance and livelihood financing.

Kredits will present its solutions at the Microfinance Centre Annual Conference in Prague on May 18-20, 2011.

About Kredits Microfinance

Established in 1998, Kredits is a premier technology solution provider to microfinance institutions worldwide. With an outstanding implementation record and a proven ability to support microfinance efforts in multiple regulatory environments, Kredits has been successfully implemented by MFIs in 30 countries across 5 continents. For more information visit Kredits at http://www.kredits.com.

    
    Contact:
 
    France Barral, Vice President, Operations
    Vikas Jhunjhunwala, Chief Consultant
 
    Tel No : +1-801-252-5282
    info@kredits.com

SOURCE Kredits