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InvesCore NBFI 13

  • InvesCore NBFI
  • Invest in microfinance
  • + 441 other investors
  • At the outskirts of Ulaanbaatar, The WoodBros are making a name for themselves with their unique wooden world maps. With a loan from InvesCore, they bought a laser engraving machine, significantly boosting their production capacity. By investing in InvesCore, you support the growth of 20 businesses in Mongolia.

    24 months
    6 months
    Maturity24 months
    Repayments6 months
      Fully funded in 7 days on 27 March 2024.

      The project

      Q: What does the higher interest rate of this project mean?
      A: The project is part of a pilot program where we experiment with the conditions of projects. The higher interest rate is not due to a change in the credit rating, which remains an A. The increase in interest is borne jointly by the investee and Lendahand


      Please note: 1st principal repayment after 12 months instead of 6 months. However, the interest payments start after 6 months.

      From their workshop in Ulaanbaatar, The WoodBros carefully add a touch of artistry to Mongolian interiors. In 2017, they began hand-cutting and engraving wooden world maps, symbolic of their customers' travels and dreams. Their dedication and craftsmanship quickly caught attention, but the real change came in 2022. Thanks to funding from InvesCore, they elevated their business: renting a garage on the city's outskirts and purchasing a laser engraving machine. This enabled them to accelerate production and push their creative boundaries.

      During peak periods like Christmas, The WoodBros' team expands with temporary workers. This not only increases their capacity but also provides employment within the local community. What once started as a hobby is now their full-time passion and profession.

      The success story of The WoodBros underscores the need for working capital among small and medium-sized entrepreneurs in Mongolia. InvesCore offers business loans with flexible terms and monthly repayments to help entrepreneurs grow and improve the lives of themselves, their suppliers, and their employees.


      What social return could your investment make?

      InvesCore recognises the important role small and medium-sized enterprises (SMEs) play in Mongolia's socio-economic landscape. Representing approximately 86% of all active legal entities in Mongolia, these SMEs are fundamental to job creation, poverty reduction, and community empowerment (National Statistical Office (NSO) of Mongolia, 2019). Yet, many entrepreneurs, especially women, face considerable financial barriers.

      To bridge this gap, InvesCore has introduced innovative fintech services to democratise access to funding. Their automation of the traditional loan process has not only reduced 80% of manual work and potential errors but also expanded their reach. In 2021, this led to over 1,200 SME owners, of which more than 250 were female entrepreneurs, securing business loans. By investing in InvesCore, you facilitate the disbursement of loans to 20 SMEs in Mongolia. 

      What financial return could your investment generate? 

      • Annual interest rate 7.5%
      • Maturity of 24 months
      • Grace period: the first repayment of your investment will be made after 12 months. After that, there will be a repayment every 6 months. 
      • With an investment of 1,000 euros, your expected total repayment would be 1,113 euros.


      The story of InvesCore

      InvesCore is the largest financial institution in Mongolia. They provide business loans to SMEs in Ulaanbaatar and agricultural businesses in rural areas. They also offer business training to support entrepreneurs.

      With their own Loan Origination System (LOS), they process loan applications from over 80,000 clients, saving time. After a successful IPO in 2019, where 15% of the shares were sold, InvesCore plans an international expansion into Central Asia and Southeast Asia.

      In 2021, InvesCore launched a program, supported by Rio Tinto Mongolia LLC, offering financing at lower costs to vulnerable clients, such as SMEs selling eco-friendly products, entrepreneurs with disabilities, female entrepreneurs, single-parent business owners, and companies conducting import substitution activities.

      The aim of this program is to improve access to financing and promote sustainable economic growth and inclusivity in the community.


      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 customer portfolio are SME entrepreneurs
      • More than 80,000 customers
      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 20 jobs are created
      • With this investment 133 lives are improved

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      We have already contributed to InvesCore NBFI 13

      Elly Vos
      Lars Groenewegen
      Ton Van der Meer
      Wim Mortier
      Arno van Haren
      + and another