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Topos Network
Topos Network is a financial technology company that enables remitters to do more than just send money. By pledging funds to a secure escrow, they can help their loved ones build credit, establish a financial identity, and achieve lasting financial inclusion. The platform allows partners to utilize diaspora pledges as a new form of collateral, enabling financial institutions to expand lending to new customer segments in emerging markets by transforming remittances into a monetizable and regulated financial asset.
Singapore, SGP
Description
Topos Network provides a platform where remitters can pledge funds to a secure escrow instead of making a direct cash transfer. This pledge allows borrowers, typically loved ones, to access credit, thereby turning remittances into a productive financial asset. The platform aims to build credit, financial identity, and financial inclusion. For pledgers, benefits include supporting their loved ones, saving on remittance fees, and boosting the long-term value of their funds. Pledges are reusable; once a loan is repaid, the funds can back another loan. Pledgers can also earn a yield on their funds while in escrow and track the impact of their pledge via a dashboard. The service is currently live in Nigeria with plans to expand to Egypt, India, Mexico, Senegal, and Uganda. Topos Network also collaborates with partners like banks, MFIs, and telcos through two primary models: forming a joint venture to launch the solution in a new market, or integrating Topos's offshore collateral to enhance existing loan books. This collateral, backed by diaspora pledges, allows partners to extend credit to previously underserved borrowers, increasing loan volumes without elevating default risk. The company also seeks global partnerships with governmental or non-profit organizations to advance socio-economic causes.Grant Funding
VC Funding
None
2018
$0
$500K