By Tamara Pupic
Dubai-based start-up which connects micro-entrepreneurs and lenders in the Arab region celebrates its second anniversary.
Pi Slice, a Dubai-based online micro-lending platform, has celebrated its second anniversary with the launch of an Arabic website.
Founded in 2013 by former banker Genny Ghanimeh, Pi Slice is a microfinance crowdfunding platform for the MENA region, which allows individuals and corporations to lend to MENA-based microfinance institutions (MFIs), and thus fund projects and micro-entrepreneurs supported by the MFIs.
It was officially launched in partnership with European microcredit platform MicroWorld.org, a subsidiary of the PlaNet Finance Group, in 2013.
At least 26 percent of the region’s 370 million inhabitants are considered to be living on less than $2 per day, making three million households eligible for a micro-loan but with no access to funding.
As opposed to a typical crowd-funding model, investment through Pi Slice is in the form of loans. With investors’ lending which can start as low as $20, the platform has already supported 200 micro-entrepreneurs from three countries.
To mark its second anniversary, PI Slice launched the website’s Arabic version and offered a free $20 voucher to their community to support an entrepreneur of their choice.
Speaking about their second anniversary, Genny Ghanimeh, the founder of Pi Slice, said: “I hope that next year we will support thousands of micro-entrepreneurs, and I hope we can show more the power of working together and the power of giving in transforming lives.
“Next year we are adding three more countries to our family, and introducing micro-credit and Musharakah products.
“Launching Pi Slice in Arabic is just the beginning of more to come. And we only did it with the support of everyone in our community.”
More information is available at www.pi-slice.com/ar