Micro Benefits
Micro Benefits
Improving livelihoods of chinese factory workers.
Financial & Insurance activites | China | Access to Financial Services |
Overview
Micro Benefits China provides Chinese factory workers with access to affordable safe and responsible credit appropriately priced life insurance policies merchant discounts and other beneficial products and services. Tens of millions of Chinese workers lack access to formal credit and in times of need must borrow money from inconvenient unsafe or illegal sources. Micro Benefits China addresses this problem through a proprietary lending system in which factory managers issue their employees credit cards that are guaranteed by future salary payments. As a result workers gain both additional financial freedom and a credit record that can support their future chances of accessing business or larger consumer loans.
Industry |
Legal Structure |
Operating Status |
Employees |
Financial & Insurance activites | Other Legal Structure | Operating | 51 - 200 employees |
Funding and Financing Rounds
May 20, 2015 / $4M / Series B / Other / Equity
Undisclosed
Team
Impact
Geographies:
Social Objectives:
Environmental Objectives:
Operational Impact:
- Social Policies and Performance
Impact Reports & Metrics
Offices
Headquarters
CIQ Building
Suzhou
Jiangsu, China