At this time of pandemic uncertainty, we all need practical hope and inspiration. Where can we find the resources for resilience and recovery – within ourselves, our economies and our societies?
At LeapFrog, we are inspired by purpose-driven businesses. They deliberately take on tough challenges, to bring security and prosperity to millions of vulnerable people. They invent commercial solutions that are swift and scalable. Never has their work been more needed nor their insights more relevant.
It is in this spirit of practical hope that we share LeapFrog companies’ extraordinary results from 2019. Today, LeapFrog’s businesses reach 205 million people with essential healthcare and financial tools. In the pages that follow, we share various dimensions of this achievement.
Absorbing these results and lessons, it becomes utterly clear: now is the time for Profit with Purpose.
Andy Kuper, CEO of LeapFrog Investments, an impact-only private equity fund manager, discusses investing in emerging markets and their new $700 million fund.
The impact investor’s third fund is 75% larger than its predecessor and has already made five investments.
HIGHLIGHT: LeapFrog has seen several companies grow revenue at over 50%, particularly those in the insurance sector. For instance, ARM Life in Nigeria grew revenue 58% over the year in 2019, prior to LeapFrog’s successful exit at the beginning of 2020.
HIGHLIGHT: Last year, JUMO, a LeapFrog company celebrated connecting 15 million people with credit and savings across Asia and Africa since its launch in 2015. JUMO has now dispersed $1.6 billion across their 6 markets with 60% of their customers being micro, small and medium enterprises.
HIGHLIGHT: Last year, LeapFrog company, miLife reached over 700,000 customers across Ghana with insurance products. This reach marks an increase of 49% compared to 2018. Two thirds of these customers are emerging consumers.
HIGHLIGHT: Since its inception, WorldRemit customers have sent $14 billion in remittances. In 2019, the company saw significant growth, with activations now 5x the rate when LeapFrog first invested. WorldRemit now covers 150 countries where its predominantly low income user base increasingly uses mobile money accounts to access funds.
HIGHLIGHT: Ascent Meditech, a LeapFrog company, offers a range of over 300 high-quality orthopaedic goods, wound care, mobility, and pain relief products to help the 1 in 3 people who live with painful musculoskeletal conditions.
In 2019, Ascent reached 8.5 million emerging consumers in India and around the world.
In the past year, Ascent grew their emerging consumer base by 25.6%, launched 15 new products, and entered 5 new global markets, enabling millions of consumers to better manage their own health.
Direct Female Customers
HIGHLIGHT: In 2013, LeapFrog company, Northern Arc’s group loan product served 1.7 million women. In 2019, it had grown to serve over 5 million female customers.
Emerging Female Consumers
HIGHLIGHT: In 2013, at time of investment, LeapFrog company, BIMA had 278,000 female customers. In 2019, this figure has increased sevenfold to 1.9 million female customers; 75% accessing insurance for the first time.
Direct Female Customers
HIGHLIGHT: LeapFrog invests in businesses that respond to the needs of low income women. We have doubled the percentage of female customers in our companies from our first to our latest fund.
In September, we became the first ever impact investor globally to announce an independent audit against the IFC-led industry standards, the Operating Principles for Impact Management.
And, we welcomed 3 new members to our Global Leadership Council.
Julia Gillard AC
Former Prime Minister of Australia
Chairman of Singtel
Jaime Augusto Zobel de Ayala
CEO of Ayala Corporation