PayPal invests in Sweef Capital and Quona Capital

PayPal recently declared an investment into Sweef Capital's Southeast Asia Women's Economic Empowerment Fund (SWEEF) and the Quona Opportunity Fund. These investments align with their mission to enhance women's economic participation worldwide.

• Background: This investment is a part of PayPal's 2021 commitment of $108M under the UN Generation Equality Forum to promote women and girls' financial inclusion and economic empowerment. These are the initial investments from PayPal's forthcoming $100M commitment to projects led by or serving women.

• Sweef Capital: This Singapore-based enterprise is spearheading the mission in Southeast Asia. Their strategy? To use investments as a tool to promote education, health, and economic growth, with a special focus on women-led enterprises and organizations championing gender equality and diversity.

• Quona Opportunity Fund: A subsidiary of Quona Capital, this entity seeks to democratize access to high-quality financial services for underserved consumers and small enterprises in emerging markets.

• Thoughts from Quona Capital: Monica Brand Engel, Co-founder and Managing Partner at Quona Capital, welcomed PayPal's investment and appreciated the work carried out by their portfolio companies to empower women and girls in emerging markets worldwide.

• Other PayPal Initiatives: PayPal employees have long supported women entrepreneurs globally through the Cherie Blair Foundation for Women's "Mentoring Women in Business" program.

PayPal is also providing a grant to Opportunity International, a U.S. based nonprofit organization empowering women living in poverty through innovative programs. The PayPal partnership will directly support the expansion of the Women THRIVE Program, which aims to empower women in India, Guatemala, Ghana, and The Philippines to become change agents.