IFCs investment will support the company’s regional expansion in Brazil and Mexico while consolidating its position in Argentina.
IFC’s investment in InvoiNet follows the World Bank Group’s new Country Partnership Strategy (CPS) for Argentina, which was issued in September 2014. IFC’s engagement with Argentina’s private sector focuses on export-oriented sectors such as agribusiness, energy, infrastructure and financial institutions. IFC’s investments in Argentina during the CPS period (2015-2018) are expected to reach USD 1.7 billion.
InvoiNet is an Argentinian company that makes electronic invoices available for financing in an online marketplace. InvoiNet serves more than 280 large corporations, reaching a network of more than 100,000 small and mid-sized supply and distribution companies across Latin America. InvoiNet currently handles more than USD 16 billion in invoices in Argentina, Brazil, Colombia, Mexico and the US, according to IFC.
In April 2015, IFC and MasterCard signed an agreement to establish a risk-sharing facility, which is expected to provide millions of people in emerging markets access to electronic payments to increase universal financial access by 2020.
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