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2018-06-18

Vostok Emerging Finance Ltd: Vostok Emerging Finance invests into Konfio, Mexican online small business lender

Stockholm, June 18, 2018 (GLOBE NEWSWIRE) --

Vostok Emerging Finance (VEF) announces its USD 15 mln investment into
Mexican online small business (SME) lending platform, Konfio. VEF led a
broader Series C investment round of USD 25 mln and is joined by existing
investors, including Quona Capital, QED, Kaszek Ventures and International
Finance Corporation (“IFC” from The World Bank) amongst others. Following
the transaction VEF holds a minority position and board representation in
the company.

Mexico is Latam’s second largest market opportunity with a population of
127mln (no 10 global) and c. 7mln SMEs. Konfio is a digital-first unsecured
lending platform, with a mission to support the growth of Mexico’s vast
underserved small business community. Within the broader Mexican SME credit
space, Konfio focuses on the top end credit of the small business segment
which is viewed as a USD 45bn opportunity. For every 20 companies in
Mexico, 19 are considered “very small” (annual sales up to USD 700k). With
its online and digital first approach, Konfio leverages technology and big
data analytics, Konfio complements traditional financial analysis and
streamlines the loan application process, providing convenience and
affordability to customers who are creditworthy but historically
underserved by traditional banking.
Founded in 2014 by David Arana, Konfio is head quartered in Mexico City.

VEF’s Managing Director, Dave Nangle, comments:

“We are excited to announce our latest portfolio investment and our first
in Mexico. Konfio is an asset we have tracked for 2 years now and it
represents a truly unique opportunity and a stand-out asset in Mexican SME
credit space. We love scale opportunities, with clear traction and strong
management teams and Konfio very much fits our investment mantra. We look
forward to working with David Arana and his team on the journey ahead.”

Konfio founder, David Arana comments:

“We’re delighted to partner with Vostok Emerging Finance to continue our
mission of empowering SMEs through access to credit. Having shown strong
traction in the last twelve months, we are looking forward to continue
investing in building a world class company, improving our technology stack
and scaling beyond unsecured business term loans, with the launch of new
products for underbanked SMEs in the region.”

Dave Nangle, Managing Director

For further information please contact:
Henrik Stenlund, CFO, Tel +46 (0)8 545 015 50

Vostok Emerging Finance is an investment company with the goal of investing
in early stage modern financial services companies across emerging and
frontier markets. VEF trades in Sweden on Nasdaq First North under the
ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto
Securities AB.

The information was submitted for publication, through the agency of the
contact person set out above, at 08.00 CEST on June 18, 2018.

Bilaga

* VEF_Konfio_2018-06-18

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