PayPal Holdings, Inc. has made a significant move in advancing women’s economic empowerment by investing in Sweef Capital‘s Southeast Asia Women’s Economic Empowerment Fund (SWEEF) and Quona Opportunity Fund.
This strategic investment aligns with PayPal’s 2021 commitment of $108m under the UN Generation Equality Forum to promote financial inclusion and economic empowerment for women and girls. These investments mark the beginning of PayPal’s commitment to allocate $100m to funds and initiatives led by women or dedicated to serving women.
Sweef Capital, based in Singapore, is a woman-led fund focused on enhancing women’s potential across Southeast Asia. The fund actively seeks opportunities in women-led enterprises, organisations exemplifying gender equality and diversity, and those primarily staffed by women. Sweef Capital aims to leverage investments that create a multiplier effect, enhancing livelihoods, education, employment, health, and economic growth across underserved markets in Southeast Asia.
Quona Opportunity Fund, a part of Quona Capital, is dedicated to supporting transformative fintech companies in emerging markets. They invest in businesses breaking down barriers to financial services for underserved consumers and small enterprises across various regions, including India, Southeast Asia, Latin America, Africa, and the Middle East. Quona Capital’s commitment to financial inclusion aligns with PayPal’s mission to empower women globally.
Apart from these investments, PayPal continues to advance its commitment through key partnerships. The global payments firm is actively involved in supporting women entrepreneurs globally through the Cherie Blair Foundation for Women’s “Mentoring Women in Business” program. The company’s involvement extends to a new commitment to support one million women entrepreneurs by 2030.
PayPal is also providing a grant to Opportunity International, a U.S.-based nonprofit organisation that empowers women living in poverty. The grant will support the expansion of the Women THRIVE Program, empowering women in India, Guatemala, Ghana, and The Philippines to be agents of change.