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funding gap emerging markets

InvesCore NBFI 9

  • InvesCore NBFI
  • Invest in microfinance
  • + 443 other investors
  • Entrepreneur Davaarjargal is hoping for financing for her shop in Mongolia. With an investment in local partner InvesCore, 15 small and medium-sized business owners like her will secure the necessary working capital to drive their businesses forward. *exchange rate risk EUR/USD*

    24 months
    6 months
    Maturity24 months
    Repayments6 months
      Fully funded in 39 days on 26 June 2023.

      The project

      In Ulaanbaatar, the capital of Mongolia, Davaarjargal runs her own business. Her shop specializes in naturally produced soaps and bath salts. She sources her raw materials from local nomads, for whom this trade also represents an important source of income. Thanks to a loan from InvesCore, a local microfinance institution, she can purchase more of the necessary materials and expand her business. Small and medium-sized entrepreneurs in Mongolia need working capital for their business to grow. A thriving business means higher income, directly improving the lives of the entrepreneur, her suppliers, and employees. The maturity of business loans from InvesCore vary between 24 and 36 months with a monthly repayment of principal and interest. The monthly interest rate varies between 2.2% and 2.9% in Mongolian tugrik.


      What does your investment generate?

      For entrepreneurs like Davaarjargal, a business loan makes a significant difference. Check the interest rate and maturity InvesCore offers you as an investor at the top of this page. For more information about possible exchange rate risks, visit our currency page.


      The story of InvesCore

      InvesCore is Mongolia's largest financial institution. With financing via Lendahand, they provide business loans to their current and new customers. The main customers are small and medium-sized enterprises in the capital Ulaanbaatar, such as Davaarjargal's shop or a bakery, and agricultural businesses or farmers in the countryside. To best support the entrepreneurs, InvesCore also offers business training. InvesCore processes the loan applications of their more than 80,000 customers through their internally developed Loan Origination System (LOS). The LOS automation process collects customer information from government systems, saving customers time in gathering the necessary documents. In 2019, InvesCore held an initial public offering (IPO) relating to 15% of the total shares. Since the IPO, the share price has increased by 145%. For the future, the non-banking financial institution plans an international expansion of their activities in Central Asia and Southeast Asia. In 2021, InvesCore launched a special program that allows low-cost financing for more vulnerable customer profiles. The program is funded by Rio Tinto Mongolia LLC. The target groups are:

      • SMEs implementing an environmentally-friendly project
      • SMEs run by entrepreneur(s) with disabilities
      • SMEs run by women entrepreneur(s)
      • SMEs run by single parents
      • SMEs conducting import substitution activities


      InvesCore in numbers

      • Founded in 2016
      • Loan portfolio of 74 billion MNT (approx. 60 million USD) (end of 2021)
      • 18 branches in Mongolia
      • 2 subsidiaries in Kyrgyzstan
      • 269 employees
      • 40% of their cutsomer portfolio are SME entrepreneurs
      • More than 80,000 customers



      InvesCore aims to be the most reliable financial partner for their customers by delivering tailored financial products, quick services, and professionalism.



      Support individuals and small and medium-sized businesses in developing countries worldwide with reliable financing.



      • "Best Investor" 2018-2020 - by the Association of Mongolian NBFI
      • "Excellence Service Entrepreneur" 2019 - by Forbes
      • "Outstanding NBFI" 2018, 2019 en 2021 - by Mongolian Chamber of Commerce
      Company nameInvesCore NBFI
      CEOBayasgalan Dalaijamts
      SectorFinancial services
      Credit scoreA


      InvesCore is a microfinance institution in Mongolia. Its portfolio is currently divided between 30% rural and 70% urban clients. They aim to fully digitalize consumer products to focus all their attention on business loans and become more impact-oriented. InvesCore developed an automated process for traditional loans, which reduces manual work by 80%, leading to faster loan processing and increased accessibility for entrepreneurs.

      InvesCore's digitalization efforts empower entrepreneurs, including women, by providing easier access to financial services, promoting gender equality, and supporting the growth of small businesses in the local economy.

      Last year, over 1200 SME owners received business loans of whom more than 250 were female entrepreneurs.

      Access to finance is an effective tool against poverty. Besides the entrepreneur who benefits from the loan, everyone who is involved with their business feels the positive effect of the financing. When a business can grow, entrepreneurial activity increases and jobs are created. This leads to a decrease in emigration and gives people the opportunity to improve their living conditions.


      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1 - No poverty

      SDG 8 - Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.


      Related blog posts

      • Learn more about InvesCore in their introduction blog post.
      • Want to learn more about how financial inclusion can thrive entrepreneurship? Read here.
      • Wondering which other microfinance institutions we have in our portfolio? Check them out here.
      • With this investment 15 jobs are created
      • With this investment 100 lives are improved

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      We have already contributed to InvesCore NBFI 9

      Marc Sierink
      Frank Fekken
      Sander Van dijk
      Piet van der Kooi
      Addy de Groot
      + and another