An academician and angel investor, Jean-Jacques Degroof holds an MS and PhD from the Massachusetts Institute of Technology (MIT) Sloan School of Management. Jean-Jacques Degroof supports initiatives in the areas of entrepreneurship and technology, including the MIT Inclusive Innovation Challenge (IIC).
IIC is a competition that recognizes entrepreneurs from across the globe who are using technological innovation to make the world a better place. During the fourth MIT ICC held in November 2019, Tienda Pago was a grand prize winner in the financial inclusion category. The startup won a $250,000 prize for its development of an online lending tool that helps provide short-term loans to small stores in Latin America.
By using Tienda Pago, these small businesses will no longer have to rely on informal lenders, who charge exorbitant rates, for their working capital requirements. Using the company’s mobile app, SMS messaging, or WhatsApp, Tienda Pago’s short-term credit facility can be accessed through a smartphone. The company currently has over 27,000 store owners enrolled in Peru and Mexico, and is scaling up to assist over 150,000 Latin American families in the next two years.
IIC is a competition that recognizes entrepreneurs from across the globe who are using technological innovation to make the world a better place. During the fourth MIT ICC held in November 2019, Tienda Pago was a grand prize winner in the financial inclusion category. The startup won a $250,000 prize for its development of an online lending tool that helps provide short-term loans to small stores in Latin America.
By using Tienda Pago, these small businesses will no longer have to rely on informal lenders, who charge exorbitant rates, for their working capital requirements. Using the company’s mobile app, SMS messaging, or WhatsApp, Tienda Pago’s short-term credit facility can be accessed through a smartphone. The company currently has over 27,000 store owners enrolled in Peru and Mexico, and is scaling up to assist over 150,000 Latin American families in the next two years.
