PayPal Holdings, Inc., a U.S.-based payment company, announced on Thursday that it had invested in Sweef Capital’s Southeast Asia Women’s Economic Empowerment Fund (SWEEF) and Quona Opportunity Fund in order to support their joint goal of advancing women’s inclusion in the world’s financial and economic system.
The investments, according to PayPal, are a part of the $108 million pledge it made to the UN Generation Equality Forum for 2021 to support financial inclusion and economic empowerment for women and girls.
They are the first of the company’s upcoming $100 million in capital investments into funds and other projects that are run by women or that have a female-focused mission.
“When women are economically empowered, they not only elevate themselves – they also enrich their families and communities, and propel the global economy forward,
“Through our strategic investments in Sweef Capital and Quona Opportunity Fund, which are committed to catalyzing enduring change across vital global markets, we will forge new pathways of opportunity and help advance women in the global economy,” said Gabrielle Rabinovitch, PayPal’s Acting Chief Financial Officer.
Sweef Capital, based in Singapore, is committed to improving people’s lives and showcasing the potential of women throughout Southeast Asia.
Sweef Capital is a female-led investment company that concentrates on opportunities that address Southeast Asian challenges and underserved markets.
The fund’s innovative strategy aims to leverage investments that have a multiplier effect, enhance sustainable livelihoods, advance high-quality education, generate decent employment, support good health, and boost economic growth.
They look for employment opportunities in businesses run by women, businesses with a large female workforce, and businesses that are role models for diversity and gender equality.
“PayPal has long been an innovation leader and trailblazer at the intersection of technology and finance. It paved the way for many other entrepreneurial businesses,
“Like us, PayPal recognizes gender-smart investment as the next wave of opportunity and a way to deliver robust financial returns and societal dividends. We look forward to working together to take this opportunity mainstream,” said Jennifer Buckley, Sweef Capital’s Managing Director.
A venture capital firm that supports eminent founders establishing game-changing fintech businesses in emerging markets, Quona Capital includes Quona Opportunity Fund.
In India, Southeast Asia, Latin America, Africa, and the Middle East, Quona invests in businesses that are removing obstacles to high-quality financial services for underserved consumers and small businesses.
Since its founding in 2015, Quona has remained steadfast in its determination to promote financial inclusion and make a significant contribution through its investments.
