Baar-Zug, Switzerland, 1 February 2021
PG Impact Investments has invested in Bayport Colombia S.A. (“Bayport Colombia” or “the Company”), a specialist financial services provider that aims to expand lending to underserved public sector pensioners and employees in Colombia. These groups are typically unable to access financial services due to income constraints and limited credit histories.
Founded in 2007, the Company provides credit that is used by borrowers to access crucial services such as education and healthcare, as well as to fund small business activity and provide additional household income. Over time, borrowers, primarily workers or retirees from the armed forces and the education sector, build a credit history which gives them a route to accessing cheaper and more comprehensive financial services in the future.
Bayport Colombia has become one of the leading payroll lenders in the country with over 62,000 customers and 324 employees at 17 branches across the country. The Company can also leverage the experience and the support of its parent company, Bayport Management Limited (BML), a South-African company with a successful 18-year track record in payroll lending to low- and middle-income people across Africa and Latin America. Bayport Colombia implements high standards of consumer protection throughout its operations and aims to complete the SMART Certification, a third-party evaluation considered the gold standard for client protection practices.
On behalf of its clients, PG Impact Investments has provided Bayport Colombia with a USD 20 million debt investment to further scale its existing portfolio, focusing on loans intended to be used for education, healthcare, housing and micro-entrepreneurship.
Urs Baumann, CEO and co-founder of PG Impact Investments, comments: “We are thrilled to be able to support the continued growth and success of Bayport Colombia. We believe their mission plays an important role in providing underserved individuals with access to basic products and services. Our investment will support the company to expand its reach to over 85,000 people by 2022 and significantly improve their lives, especially during these challenging times.”
Lilian Perea, CEO of Bayport Colombia, comments: “Building on our highly successful investment relationship at Bayport Mexico, a fellow subsidiary of BML, we are delighted to announce this significant investment from PG Impact Investments which marks a continuation of our shared commitment to financial inclusion in Latin America. With this additional funding from PG Impact Investments, we can reach more people, positively influencing individuals, families, communities, and the national economy. That is true impact.”
About PG Impact Investments
PG Impact Investments was founded in 2015 with the vision that private investment, innovation and entrepreneurial talent can provide solutions to the challenges faced by our society, as well as create sustainable growth. PG Impact Investments is a private sector, mission-driven, global investment firm specializing in investment solutions aimed at delivering financial returns as well as creating a positive social and/or environmental impact. Whilst being independent from Partners Group, PG Impact Investments’ entities are backed by Partners Group and its employees and benefit from the global infrastructure, investment know-how and specialist resources of this leading global private markets investment manager.www.pg-impact.com
About Bayport Colombia
Bayport Management Limited entered the Latin American market in 2011 with the acquisition of Bayport Colombia, now a wholly-owned subsidiary. Our operation grew from partnerships with existing local financial service providers and it is currently one of BML’s highest performing operations. BML currently serves more than 500,000 clients worldwide with the help of our 2,500 employees and 7,500 agents. Our commitment is to continue growing in a profitable and sustainable way, giving our clients the opportunity to access affordable financial solutions and make it possible to take control of their financial wellness in the short and the long term. www.bayportcolombia.com