Olympus Capital invests $30m in microfinance

Olympus Capital Asia is to invest US$30 million in microfinance operator CreditAccess Asia, as regulators across the region look to channel funds to small businesses and tighten the screws on loan sharks, the private equity firm said on Tuesday. 

Founded in 2006, CreditAccess Asia wants to expand its retail lending operations and aims to double its client base to over three million customers over the next two years.

Paolo Brichetti, chief executive officer of CreditAccess Asia, told FinanceAsia that the firm is profitable and eyeing new markets. “We are reinvesting our profits to grow our businesses in the current...