A $750,000 equity investment in Segovia, a software technology platform that radically improves the efficiency of aid by making it faster, cheaper, and more secure to transfer funds directly to vulnerable populations.
Segovia’s management team include the founders of cash transfer program GiveDirectly and top IT talent from Yahoo, IBM and Facebook. The company has also attracted an impressive roster of investors including Reid Hoffman (co-founder of LinkedIn) and Arif Naqvi (founder and CEO of Abraaj group). GIF joined this roster of investors to support Segovia’s focus on the social benefit of its innovation as it scales and matures as a company.
Potential for impact at scale.
Given the evidence of impact of cash transfers and the large scale of the cash transfer industry (an estimated $100-$130 billion in 2015), Segovia’s impact at scale can be substantial and global if they gain even a small proportion of this market.Apply for funding