Mobile IoT Authors: Jason Bloomberg, Zakia Bouachraoui, Kevin Benedict, Pat Romanski, Yeshim Deniz

News Feed Item

Accion Invests $3 Million in Mobile Services Provider Tiaxa

Accion's Frontier Investments Group Directs Early- and Growth-Stage Equity to Support Mobile Financial Services for the Unbanked

BOSTON, Oct. 3, 2012 /PRNewswire/ -- Accion announced today that its Frontier Investments Group has invested US$3 million in Zonamovil Inc. ("Tiaxa"), a Chilean provider of managed services for the wireless telecom market. 

(Logo: http://photos.prnewswire.com/prnh/20120320/NE72531LOGO)

For more than 10 years, Tiaxa has provided mobile network operators globally with billing and rating services for prepaid mobile phone users, as well as innovative financial and business intelligence services that increase operator revenues and improve user satisfaction and loyalty. Tiaxa is now leveraging these capabilities – and the high mobile penetration in its target markets – to provide similar solutions for mobile financial services, particularly to the unbanked user base.

The capital infusion will fund research and development and operations that will help Tiaxa evolve its current suite of mobile financial services.

Frontier Investments is an early- and growth-stage equity initiative that invests in breakthrough innovations that can enhance financial service delivery to the under- and unbanked.  As a hands-on equity partner, Frontier Investments will leverage its specialized financial-technology domain expertise and Accion's five decades of experience in financial inclusion, consulting and investing in emerging markets.   

This news comes on the heels of Accion's inclusion in the prestigious ImpactAssets 50 2012 list of top impact investing fund managers.  Representing US$10.2 billion of capital, IA 50 is an open-source, publicly published database of experienced private debt and equity impact investment fund managers, serving as a resource for advisors and investors seeking to respond to the growing demand for investment opportunities that deliver both financial and social or environmental returns.

Miguel Herrera, Senior Investment Officer responsible for Frontier Investments' activities in Latin America, will be joining Tiaxa's board.

"We are excited about Tiaxa's efforts to transform the millions of cell phones in the hands of microentrepreneurs and the underserved majority into a payment platform for basic services and access to credit," said Monica Brand, head of Frontier Investments Group.

"We are extremely proud to have Accion come on board," said Felipe Valdes, Hanoi-based CEO of Tiaxa who spearheads business development outside Latin America.  "It's a great fit between our telco and prepaid balance advance services, our expansion into mobile financial services, and Frontier Investments' global expertise in this area.  We are very excited with the value they have added thus far, the potential for future impact and the energy that pervades our new partner."

"We're very excited about working with Tiaxa," said Michael Schlein, Accion President and CEO.
"For Accion, a key part of our strategy is to support potentially disruptive technologies that push the frontiers of financial inclusion."

About Accion
Accion is a private, nonprofit organization with the mission of building a financially inclusive world by giving people the financial tools they need to improve their lives.  A world pioneer in microfinance, Accion was founded as a community development organization in 1961 and issued its first microloan in 1973 in Brazil.  Over time, Accion has helped to build 63 microfinance institutions in 31 countries on four continents that are currently reaching millions of clients.  In the United States, the U.S. Accion Network is the largest microfinance lending network in the country and has served tens of thousands of clients, with over $300 million in loans.  For more information, visit www.accion.org.

About Tiaxa

Founded in 2000, Tiaxa provides the mobile telecom market with infrastructure, clearinghouse and revenue enhancement services, improving the efficiency with which the current prepaid user base is managed, and increasing revenues for major operators around the world.  In partnership with mobile operators, Tiaxa also provides innovative mobile financial service propositions to people, with the aim of improving their lives through the application of mobile technology.  For more information, visit www.tiaxa.com.



More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
@CloudEXPO and @ExpoDX, two of the most influential technology events in the world, have hosted hundreds of sponsors and exhibitors since our launch 10 years ago. @CloudEXPO and @ExpoDX New York and Silicon Valley provide a full year of face-to-face marketing opportunities for your company. Each sponsorship and exhibit package comes with pre and post-show marketing programs. By sponsoring and exhibiting in New York and Silicon Valley, you reach a full complement of decision makers and buyers in ...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
Rodrigo Coutinho is part of OutSystems' founders' team and currently the Head of Product Design. He provides a cross-functional role where he supports Product Management in defining the positioning and direction of the Agile Platform, while at the same time promoting model-based development and new techniques to deliver applications in the cloud.
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
LogRocket helps product teams develop better experiences for users by recording videos of user sessions with logs and network data. It identifies UX problems and reveals the root cause of every bug. LogRocket presents impactful errors on a website, and how to reproduce it. With LogRocket, users can replay problems.
Data Theorem is a leading provider of modern application security. Its core mission is to analyze and secure any modern application anytime, anywhere. The Data Theorem Analyzer Engine continuously scans APIs and mobile applications in search of security flaws and data privacy gaps. Data Theorem products help organizations build safer applications that maximize data security and brand protection. The company has detected more than 300 million application eavesdropping incidents and currently secu...