PRESS RELEASE: May 14, 2018
New York, NY — Pro Mujer, a mission-driven social enterprise focused on empowering women and their families in Latin America, announced today that its subsidiary, Pro Mujer Mexico SOFOM (Sociedad Financiera de Objeto Múltiple), has received $1 million USD in exchange for its issuance of preferred shares to Deetken Impact, a Canadian-based boutique asset management firm.
As part of the investment, Deetken received preferred shares in Pro Mujer Mexico SOFOM, the Mexican subsidiary of Pro Mujer that provides financial services. Deetken’s investment represents the first ever third-party equity transaction for Pro Mujer. Moreover, the issuance of preferred shares is an important signal as it comes after a tumultuous year in Mexico. It will allow Pro Mujer Mexico to continue to grow over the coming years as it can leverage this investment with additional debt. Pro Mujer believes Mexico is a critical country and that Deetken’s investment will spur new growth opportunities in the region, helping Pro Mujer build its “one stop shop for women’s empowerment.”
“We continue to be impressed at the strides Pro Mujer is making in the Mexican market, which is a challenging one for microfinance,” says Alexa Blain, Chief Operating Officer at Deetken Impact. “Our investment was structured to provide Pro Mujer Mexico with a solid platform to scale up the important financial, educational and health services they offer to women across Mexico.”
Pro Mujer and Deetken Impact have been working together on multiple fronts for over five years, and are looking forward to advancing their relationship even further with this investment. “We are happy to announce this landmark investment for Pro Mujer Mexico. In addition, we are thrilled to deepen our already existing relationship with Deetken and expect this to be the start of many impactful collaborations,” says Pro Mujer Chief Financial Officer, Raul Espejel.
About Pro Mujer – Founded in 1990, Pro Mujer is a mission-driven social enterprise whose mandate is to become a large scale, sustainable platform that delivers relevant and transformative resources and tools to women in Latin America throughout their life cycle. Pro Mujer serves roughly 300,000 clients and patients, operating across five countries in Latin America, including Bolivia, Nicaragua, Mexico, Peru and Argentina. Pro Mujer offers financial, health and educational services and is expanding its’ services to include those such as digital literacy, gender-based violence prevention, entrepreneurship and workforce development. For more information, visit http://www.promujer.org or follow on Twitter @promujer
About Deetken Impact – Deetken’s asset management team focuses on impact investments in the Americas with a deeper focus on Latin America. Through deep financial and strategic analysis, and strong local relationships in the countries they work in, Deetken is able to generate sustainable, long-term returns on their investments. With a hands-on approach, Deetken provides not only the financial resources that micro, small and medium size businesses in the region need but also the technical assistance required to ensure long-term growth and success. For more information, visit: https://deetkenimpact.com/ or follow on Twitter @DeetkenImpact