PayPal Supports Women’s Economic Empowerment in Southeast Asia

Published 6 months ago

PayPal has invested in Singapore-based Sweef Capital’s Southeast Asia Women’s Economic Empowerment Fund (SWEEF) and Quona Opportunity Fund. The move is an effort to bolster women’s inclusion in the global financial and economic system.

Sweef Capital: Empowering Underserved Markets

Sweef Capital, a woman-led fund, concentrates on opportunities addressing underserved markets and challenges in Southeast Asia. The fund’s strategy is to leverage investments that create a multiplier effect. This entails improving sustainable livelihoods, promoting quality education, creating quality work, fostering good health, and enhancing economic growth. The fund targets women-led enterprises, firms primarily staffed by women, and organizations that exemplify gender equality and diversity.

Sweef Capital’s Managing Director, Jennifer Buckley, noted that PayPal, like Sweef Capital, recognizes gender-smart investment as the next wave of opportunity. It offers a way to deliver strong financial returns and societal dividends.

Quona Capital: Transforming Fintech in Emerging Markets

Quona Opportunity Fund, a part of Quona Capital, backs leading founders who are building transformative fintech companies across emerging markets. The firm invests in companies that eliminate barriers to high-quality financial services for underserved consumers and small enterprises in various regions including India, Southeast Asia, Latin America, Africa, and the Middle East.

Monica Brand Engel, Co-Founder and Managing Partner at Quona Capital, expressed excitement about PayPal’s investment in their Opportunity Fund. She noted that PayPal’s investment is a powerful endorsement of their portfolio companies’ work to empower women and girls in emerging markets worldwide.

PayPal’s Commitment to Gender Equality

These investments are part of PayPal’s 2021 commitment under the UN Generation Equality Forum. PayPal has pledged US$108 million to advance financial inclusion and economic empowerment for women and girls. The investments in SWEEF and Quona Opportunity Fund are the first of PayPal’s forthcoming US$100 million in capital investments into funds and other initiatives led by women, or focusing on serving women.