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ABOUT US

The Beginning

Grassland's story starts with Accion Microcredit Company (AMC). Invited by the Inner Mongolia government to launch a microcredit company (MCC) pilot, Accion set up the subsidiary company AMC to provide loans for urban and rural, small and medium sized enterprises. AMC represented the first wholly-owned foreign micro-credit company in the province of Inner Mongolia, and only the second wholly foreign-owned MCC in the country.

 

In 2012, Sagamore Investments agreed to invest US$22m in Accion Microcredit Company to build Grassland Finance. Sagamore brought both the expertise and the patient-capital approach Accion was seeking, and this partnership helped provide Grassland Finance with the capital it needed to grow and reach more people, broaden product offerings and attract great talent. Grassland Finance established a head office in Beijing with a shared services platform to support expansion of microfinance across China.

 

In 2014, DEG invested US$17m in Grassland Finance to join Accion and Sagamore in building a leading microfinance company in China. Grassland used the investment from DEG to expand the company's national footprint by capitalizing new microfinance licenses in Wanzhou in Chongqing Prefecture and Jishou in Hunan province.


Shareholder Introduction
Corporate Culture
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