Micro Funding Market is Expected to Reach US $ 564.3 Billion by 2032-Accion International, BlueVine, Fundera, Funding Circle, Kabbage, Kiva, Lendio, LENDR, OnDeck, StreetShares, Ant Group

The global market for Microfinance estimated at US$214.7 Billion in the year 2021, is projected to reach a revised size of US$564.3 Billion by 2032, registering a compounded annual growth rate (CAGR) of 16.9% over the analysis period.

Microfinance focuses on provisioning of microloans to low-income and unemployed people who do not have access to traditional financial services. Microfinance encompasses a broad range of services including loans, savings, payment and insurance to help the unbanked population in achieving growth and becoming self-sufficient.

The global microfinance market forecast to witness a strong growth rate in the upcoming years due to increasing number of microenterprises, government efforts to promote microfinance, and lower interest rates. Market growth is being positively influenced by the pivotal role played by microenterprises in driving economic development.

Some of the major factors supporting the market expansion are growth of SMEs and lower-income groups, including women across rural areas, their potential to maintain household and social living along with government initiatives to promote fair competition and improve the national payment system.

While efforts to serve socially marginalized individuals with quality financial services is driving growth, enhanced risk management, increasing focus on micro-insurance and initiative to raise consumer awareness are creating new growth avenues.

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The report provides a comprehensive analysis of company profiles listed below:

Accion International, BlueVine, Fundera, Funding Circle, Kabbage, Kiva, Lendio, LENDR, OnDeck, StreetShares, Ant Group

Micro Funding Market Types:

Banks, Micro Finance Institute, NBFC, Others.

Micro Funding Market Applications:

Individual, Micro Enterprises, Small Enterprises

Advances in technology, continued digitalization, the proliferation of mobile phones, and the growing popularity of e-wallets and mobile credit are playing a decisive role in driving the growth of the market. Digital technology is particularly facilitating easy and hassle-free repayment of loans, thereby mitigating cash-related risks while augmenting efficiency and reducing costs.

The lower market risk involved in micro lending is expected to drive the growth of the global micro lending market over the forecast period. Micro lending allows prospective businessmen to start a new business with limited capital and develop it further. The continued adoption of the latest, advanced technology in micro-financing systems is also expected to open lucrative opportunities for the growth of the market. However, the smaller loan amounts involved in micro lending and the shorter repayment time provided by micro lenders are some of the factors that are expected to restrain the growth of the market over the forecast period.

Micro lending start-ups are focusing on fundraising in the wake of the outbreak of the COVID-19 pandemic. For instance, in March 2021, Five Star raised USD 234 million in a funding round from a consortium of both homegrown and global investors. New investors, such as TVS Capital Funds (P) Limited and Kohlberg Kravis Roberts & Co. L.P., also participated in the funding round. The funding round demonstrated the increasing investor confidence in the microfinance ecosystem.

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Scope of this Report:

This report segments the global Micro Funding market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the Micro Funding market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.

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