Aeloi Technologies is pioneering a way to monitor the usage of microfinance business loans for last-mile entrepreneurs using digital tokens. The SMS platform doesn’t require smartphones or mobile data, to be as inclusive as possible, and makes it easier for microfinance institutions to track loans. Borrowers, especially female entrepreneurs in the informal sector, gain access to more affordable loans and increase their digital financial track record, to move towards more formal financial services. Aeloi Technologies automates the costly process of fund monitoring, fostering trust to invest in the grassroots economy. They are thereby helping unleash the entrepreneurial potential of 400 million informal sector enterprises to create local solutions.
Their Vision for the Future
Aeloi Technology aims to ensure each dollar of investment will have a traceable impact in building the grassroots economy. Their mission is to foster freedom for women in three ways: freedom from being trapped by financial credit histories and cultural norms of asset ownership; freedom from being pressured into sharing their business loans with family members to be used for other purposes; and the freedom to create income-generating opportunities, with support from formal sector finance, which suit their multitasking demands.