Kiva
Model & Strategy
As the world’s first person-to-person lending marketplace for the poor, Kiva’s vision is to create a world where all people – even in the most remote areas of the globe – hold the power to create an opportunity for themselves and others. Kiva’s goal is to reduce global poverty by creating a platform where internet users can lend to and connect with a specific developing world entrepreneur online. Affordable capital helps low income entrepreneurs start or expand small businesses, creating a path towards economic self-sufficiency. Kiva enables a new channel for the delivery of such funds and creates equitable partnership relationships in the process.
Premal first began dreaming of “internet microfinance” while working at PayPal, the online payments company. In late 2004, Premal took a 3 month leave from PayPal to develop and test the internet microfinance concept in India. When he returned to Silicon Valley, he met other like-minded dreamers and quit his job at PayPal to help bring the Kiva concept to life and eventually to scale. Kiva today raises over $1 million each week for the working poor in 50+ countries and was named a Top 50 Website by TIME Magazine in 2009. For his work as a social entrepreneur, Premal was named a Young Global Leader by the World Economic Forum and was selected to FORTUNE magazine’s “Top 40 under 40” list in 2009. Premal began his career as a management consultant and graduated from Stanford University.
Matt began developing Kiva in late 2004 as a side-project while working as a computer programmer at TiVo, Inc. Matt helped to lead Kiva’s growth from a pilot project to an established online service with partnerships across the globe and hundreds of millions in dollars loaned to low income entrepreneurs. Matt is Skoll Awardee and Ashoka Fellow and was selected to FORTUNE magazine’s “Top 40 under 40” list in 2009. In 2011, Matt was chosen for the The Economist “No Boundaries” Innovation Award.
Martin Tschopp has been the CEO of Kiva since 2014. Previously, Martin spent 12 years at eBay, helping to build and grow marketplaces and eCommerce businesses in 20 countries.
IMPACT
To date, Kiva has facilitated over $1 billion in loans to 2.6 million micro-entrepreneurs across 83 countries. The repayment rate is 96%, and the average loan size is $700.
Increase capital access to underfunded, market based, evidenced backed anti-poverty approaches: Kiva’s crowdfunding model creates a unique form of low-cost, risk-tolerant capital to help frontline innovators expand (e.g. One Acre Fund, myAgro, Komaza, etc).
Increase public awareness & engagement: Kiva seeks to create deeper public engagement in the pressing — and addressable — issues of our time. >1 million citizen lenders have participated, including programs at over 3,000 schools & universities.
Kiva News
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Premal Shah: Small Business, the Backbone of the U.S. Economy, Needs a Jump StartKiva focuses on crowdfunding zero-interest loans to small-business owners who are excluded from other financing, have a social impact and create jobs: cafes hiring at-risk…Sep 2016 -
Two DRK Grantees Win $500k in Google Impact ChallengeThe Google Impact Challenge awarded a total of $5.5 million to Bay Area nonprofits this year. A panel of advisers narrowed the large pool of…Oct 2015 -
Agora Partnerships Announces New Partnership with KivaAgora Partnerships is excited to announce their very first lending opportunity on the Kiva platform:Aflore, a 2014 Agora Accelerator Alumni. Through Kiva, Agora Partnerships will be…May 2015
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In the lush Guatemalan mountains on the Pacific Coast, you can find Jose Emilio's tailor shop! ⛰️Jose Emilio's plac… https://t.co/CweNiAUTM6
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Meet Martha! Our Kiva fellow Idania Ramirez is currently working and traveling in Peru, which is where she met Mart… https://t.co/jRzCEw8S1I
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We've got a short Friday read for you! Author Raj Kumar discusses the global aid industry in his new book. Give thi… https://t.co/dwsCdOAY0b
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Meet Emmanuella: she's a volunteer at Camfed Learner Guide AND runs a fish and vegetable business to support her mo… https://t.co/S3ZLmshTZZ
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RT @CNTR4growth: Earlier this month @Kiva crossed the $1 billion funding mark in microloans to 2.7 million women entrepreneurs across 94 co…
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ICYMI: @Forbes wrote about how we hit $1 billion in loans to women! Check it out: https://t.co/7tvBSY6AMI
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It's officially time to sit back and pat yourself on the back. 👏 Last week alone, the Kiva community came together… https://t.co/Lg1KKOrt8i
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Love our young lenders! Making a difference!! https://t.co/niOO6eVCTn
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RT @julianerbil: Great to see (via @fredwilson's blog) @Kiva as 1 of the 21 @Libra_ Assoc., using the stable coin as a means to fund #under…
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Meet Wilfredo! 👋 He plans on starting a family and dreams of expanding his shop to support generations to come, so… https://t.co/ahNygPuJ7E
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Oooo yes... never too soon to start thinking about Kiva cards for Secret Santa!! 🎅 https://t.co/jt6ujSzRRf
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We're all emotional at Kiva HQ after this amazing week, and it's all thanks to lenders like you!! 💚😊 Thank you so m… https://t.co/MkKtJyM4Bh
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RT @JulesHanna: an honor to address the U.N. General Assembly on @Kiva’s expanded mission to bank the world’s 1.7B unbanked, our new blockc…
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RT @zalzally: Development economics got a much deserved win today. This team’s work on “nudges” in the form of cash payments & health benef…
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RT @JulesHanna: terrific piece by @Forbes @bonniesychiu on the symbolic and material significance behind @Kiva's milestone... "Crossing t…
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Today, it's Mother's Day in Malawi! 🇲🇼 Idea: visit a woman-owned business today and give female entrepreneurs you… https://t.co/70PpWF27pU
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Thank you to the entire Kiva community! 💚 You showed up *big time* to help us celebrate $1 billion in loans to wome… https://t.co/Lc8FWnLnHA
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Meet Myrian from Paraguay, one of the borrowers who helped us get to $1 billion in loans to women! 🌟 Working with c… https://t.co/SPPog8ADtP
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“I lend to women to help redress the imbalance in power and voice and self-actualization that has existed since our… https://t.co/97eNBE0HVj