A deposit taking microfinance institution operating in Myanmar, Hayman Capital, has closed a $2-million debt investment from Switzerland-based social impact investor Symbiotics SA, according DealstreetAsia.
The proceeds of the financing will be used to support the company’s microfinance operations in the country and serve an additional 15,000 new clients engaged in trading, production, agriculture and service sectors, according to the news service.
Prior to receiving the latest loan facility, in 2017, Hayman Capital raised a total of $1.9 million in loans from the Yangon branch of Malaysia’s May Bank. The new debt round also reflects Symbiotics SA’s interest in in the microfinance space of Myanmar, given its previous $1-million investment in Myanmar Finance International Limited in 2017, DealstreetAsia reports.
“We are committed to continuing our expansion in order to reach the unbanked population in this country and provide competitive financial services to them,” said Sultan Marenov, managing director and CEO of Hayman Capital Co Ltd. Established in 2014, Hayman Capital in Myanmar is backed by Singapore-based investment company Hayman Capital Pte Ltd.