What do you do when the world goes on hold for a pandemic? If you’re a Quona portfolio company, you rise to the challenges ahead of you.
Quona’s thesis has never been more relevant than it was in 2020. Amidst the COVID-19 pandemic and the resulting economic challenges around the world, access to critical financial services has been essential, particularly for the most vulnerable populations.
Quona’s portfolio companies rose to the challenges created by the global pandemic, whether actively assisting in their communities or proactively adjusting business models. While some doubled-down in online engagement as digitization accelerated globally, others fast-tracked non-lending products like insurance, investment, and payments. Our companies are well poised to support and advance opportunities within their respective markets, ensuring we emerge from the pandemic stronger and even better equipped for the future.
Just a few of many examples:
Sunday (Thailand): In response to a lack of reliable COVID data, insurance provider Sunday became a central gateway for COVID information in Thailand, including sharing information on where customers could get tests and receive treatment. Sunday launched multiple COVID insurance programs, and integrated COVID information into their recently-launched telemedicine portal.
Sokowatch (East Africa): Sokowatch, a working capital provider and last mile distributor serving informal retailers in East Africa, leveraged its existing infrastructure and partnerships with local banks and foundations to provide digital food vouchers to thousands of families impacted by the COVID-19 lockdowns. Digital voucher recipients were able to easily access essential goods from Sokowatch’s network of informal merchants.
Konfio (Mexico): Konfio, which offers digital banking and software tools to underserved small and medium-sized businesses in Mexico, stepped to provide special purpose financing to businesses forced to shut down during the pandemic. For example, Konfio partnered with Grupo Modelo to offer loans to thousands of “tienditas,” or small shops, impacted by the COVID-19 pandemic lockdowns.