Gojo & Company

What Gojo & Company does

Gojo & Company, Inc. is a Tokyo-based holding company founded in 2014 that operates as a global microfinance group with the stated aim of becoming the "private-sector World Bank." Through a network of majority-owned subsidiaries, minority investee institutions, and a venture capital arm, Gojo delivers microfinance, SME banking, deposits, remittances, mobile banking, and digital financial services to 3.4 million low-income households, micro-entrepreneurs, and MSMEs across 14 countries spanning South Asia, Southeast Asia, Central Asia, the Caucasus, and Sub-Saharan Africa. Core operating subsidiaries include SATYA MicroCapital (India, 1.4M clients), CJSC Humo Bank and CJSC Bank Arvand (Tajikistan, ~700K combined clients), JSC Credo Bank (Georgia, 490K clients), and a 16.4% stake in pan-African Baobab Group. As of January 2026, Gojo's ownership stakes range from 9.8% in newer entrants (JSC Renesans, Uzbekistan) to 99.7% in Bank Arvand.

Gojo's business model is asset-based microfinance and inclusive banking. Revenue is generated primarily through interest income on individual, group, and corporate loans at the subsidiary level, supplemented by deposit, remittance, currency exchange, ATM, and digital transaction fees. Total paid-in capital since inception reached JPY 46.5 billion (USD 325 million), with consolidated gross loan portfolio of JPY 123.7 billion. The company monetizes through financial-institution operations rather than a SaaS or transaction-fee model, and deploys digital channels selectively: Humo Online (Tajikistan mobile banking), Pasio digital storefront (India/Sri Lanka/Cambodia youth), and online banking at Arvand, Credo, and Baobab. GTM is relationship-led via branch networks and field officers in underbanked markets, with investment/acquisition as the primary market-entry vehicle.

Gojo differentiates through three documented mechanisms: (1) operating involvement in subsidiaries rather than passive investment, with governance, technology, and social performance management support; (2) impact certifications that lower its cost of capital, including Japan's first Social Finance Framework aligned with ICMA/LMA principles, B Corp certification (score 102.8), and Client Protection Certifications across four consolidated companies; and (3) institutional capital access from Japanese financial institutions (SMBC, Mizuho, Dai-ichi Life, Sumitomo Mitsui Trust), development finance institutions (Finnfund, FMO, Proparco, JICA, IFC), and impact investors. UNLEASH Capital Partners (est. October 2023) is the venture capital extension targeting Indian fintech, and the Hrishipara Daily Diaries research project with MicroSave Consulting explores financial behavior data among low-income Bangladeshi households.

Name

Gojo & Company

Legal name

Gojo & Company, Inc.

Website

https://gojo.co

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Gojo & Company is a Tokyo-based holding company operating microfinance institutions and inclusive banks across 14 countries, serving 3.4 million low-income households and MSMEs in Asia and Africa through subsidiary and investee financial service providers.

Ownership category

akta.pro rank

Product category

Microfinance / Financial Inclusion Services

NAICS

Finance and Insurance (52), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Microenterprise Group Lending (Joint Liability) (FSAKAGAH)

Keywords

• Microfinance lending
• Financial inclusion services
• SME banking
• Digital microfinance
• Development finance investing

Headquarters

HQ city

Shibuya

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Microfinance lending interest income: Gojo generates revenue through its subsidiary microfinance institutions that provide loans to micro-entrepreneurs, SMEs, and low-income households. Revenue comes from interest income on various loan products including individual loans, group loans, and corporate loans.
2. Banking services revenue: Full-fledged banks under Gojo's umbrella generate revenue from loan interest, deposit accounts, remittances, currency exchange, ATM services, and cash management solutions.
3. Digital financial services: Revenue from digital lending products including nano-loans through mobile applications, and fee income from digital payment and transaction services.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Gojo & Company is a holding company that extends financial inclusion by investing in, acquiring, or establishing microfinance institutions and banks in developing countries. Through its subsidiaries it provides microfinance lending (individual, group, and corporate loans), savings and deposit products, remittances, mobile banking, digital finance programs for youth, and full-fledged banking services to low-income households, micro-entrepreneurs, and MSMEs across 14 countries in Asia and Africa.

Product overview

Gojo & Company is a Tokyo-based holding company for inclusive financial service providers operating across 14 countries in South & Southeast Asia, Central Asia & the Caucasus, and Africa. The company operates as a platform of microfinance institutions and banks, with major subsidiaries including SATYA MicroCapital (India), Humo Bank (Tajikistan), CJSC Bank Arvand (Tajikistan), JSC Credo Bank (Georgia), Baobab Group (Africa), Ananya Finance, MAXIMA, Sejaya, and Chamroeun. Gojo's core offering is microfinance lending (individual, group, and corporate loans) to low-income households and MSMEs. The company also offers digital finance initiatives including the Pasio Programme for young entrepreneurs and operates venture capital subsidiary UNLEASH Capital Partners for fintech investments. As of March 2025, Gojo Group serves 3.4 million clients across its network.

Differentiator

Problem solved

Functional benefit

Brands

• Pasio: Digital finance programme for young entrepreneurs offering income-generating loans, digital storefront, and online community platform. Operated in partnership with Education Above All Foundation in India, Sri Lanka, and Cambodia.

Products and services

• Microfinance Lending Individual, group, and corporate loans provided to low-income households, micro-entrepreneurs, and small businesses in developing countries across Asia and Africa. The core product line of Gojo's subsidiaries.
• SATYA MicroCapital Gojo's largest Indian subsidiary providing microfinance services, with 1.4 million clients and USD 594 million in assets as of early 2026. Offers microcredit to economically active low-income and underbanked households.
• Humo Bank Tajikistan-based bank providing loans, deposits, remittances, and mobile banking services (Humo Online). Received a banking license in July 2025 and serves over 370,000 clients with a loan portfolio of approximately USD 180 million.
• CJSC Bank Arvand Commercial bank in Tajikistan offering unsecured loans, deposit accounts, remittances, online banking, currency exchange, and ATM services to MSMEs and individuals. Over 65% of client transactions are conducted through digital channels.
• JSC Credo Bank Fifth-largest commercial bank in Georgia, offering full-fledged and innovative banking services including business loans, retail loans, installment loans, and deposit products through 96 service centers to over 490,000 customers.
• Baobab Group Pan-African microfinance group present in 7 African countries (Burkina Faso, DRC, Ivory Coast, Madagascar, Mali, Nigeria, Senegal) providing micro-loans, SME loans, savings products, payment solutions, and mobile app services to approximately 460,000 clients.
• Ananya Finance for Inclusive Growth Indian subsidiary providing microfinance to economically active low-income and underbanked households with 130,000 clients.
• MAXIMA Microfinance Cambodia-based microfinance institution with USD 25.6 million in assets and 10,000 clients.
• Sejaya Micro Credit Sri Lanka-based microfinance company serving 97,000 clients with various loan products.
• Chamroeun Microfinance Cambodia-based social microfinance institution established in 2009, licensed by National Bank of Cambodia, serving over 30,000 households with individual, group, and corporate loans. Client Protection Certified in February 2024.
• Pasio Programme Digital finance programme for young entrepreneurs (18-35) offering income-generating loans, the Pasio App for loan transparency, Pasio Digital Storefront for online shops, and Pasio Online Community for business networking. Served 81,000+ youth with loans, 26,000+ storefront users, and 11,000+ online community members.
• UNLEASH Capital Partners Venture capital business specializing in fintech startups in India to extend financial inclusion beyond traditional microfinance. Fund AUM of JPY 4.5 billion targeting early-stage companies.
• Hrishipara Daily Diaries Project Financial diaries research project tracking daily monetary transactions of low-income households in Bangladesh, partnered with MSC for AI and data science analysis to inform financial inclusion products and policies.

Quantifiable outcome

• 3.4 million clients served across 14 countries as of March 2025
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• MicroSave Consulting (MSC)coreStrategic or Co-development Partner · 14 February 2026Collaboration with MSC to strengthen and expand the Hrishipara Daily Diaries Project in Bangladesh. MSC contributes financial inclusion research expertise, data analysis capabilities, and knowledge dissemination. The partnership aims to integrate AI solutions for low-income community financial analysis.
• UNLEASH Capital PartnerscoreStrategic or Co-development Partner · 13 November 2023Venture capital business co-founded with former employee Natsuki Sugai, specializing in financial inclusion fintech startups in India. Fund AUM of JPY 4.5 billion targeting early-stage companies.
• Education Above All (EAA) FoundationcoreStrategic or Co-development Partner · 17 March 2023Partnership for Pasio programme - a digital finance initiative for young entrepreneurs supporting income-generating loans, digital storefronts, and online community platforms in India, Sri Lanka, and Cambodia. EAA Foundation (formerly Silatech) provides funding and programmatic support.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• BRAC: BRAC operates one of the world's largest microfinance and development programs serving tens of millions of clients across South Asia and Africa with microcredit, SME loans, and social enterprises. It is comparable to Gojo as a multi-country microfinance platform focused on financial inclusion for low-income households.
• Opportunity International: Opportunity International is a global microfinance network providing savings, credit, and insurance across Africa, Asia, and Latin America. Like Gojo, it operates a holding/partner structure of regulated MFIs serving underbanked populations and combines capital with operational and digital support.
• VisionFund International: VisionFund is the microfinance arm of World Vision operating regulated MFIs in dozens of developing countries. It is comparable to Gojo as a multi-country MFI platform serving low-income clients with child welfare and livelihoods missions.
• Accion International: Accion is a global nonprofit that invests in and supports MFIs and fintechs serving the underbanked in emerging markets. Comparable to Gojo as a holding/investment platform driving financial inclusion across multiple geographies.
• Baobab Group: Baobab is a pan-African microfinance group operating in 7 African countries (Burkina Faso, DRC, Ivory Coast, Madagascar, Mali, Nigeria, Senegal). It is comparable to Gojo as a multi-country MFI platform serving micro-entrepreneurs and SMEs; notably it is also a Gojo investee (16.4% stake).
• Northern Arc Capital: Northern Arc is an Indian fintech platform that connects capital providers to underbanked borrowers via lending partners across asset classes. Comparable to Gojo's India operations and Gojo board director Kshama Fernandes serves as Northern Arc's Vice Chairperson, indicating close ecosystem ties.

Emerging players

• M-KOPA: M-KOPA is a leading emerging-market fintech providing pay-as-you-go solar, mobile money, and digital credit to underbanked customers in Kenya, Nigeria, Ghana, Uganda, and others. Comparable to Gojo's digital lending subsidiaries via use of mobile channels to extend credit to low-income, often unbanked, customers.
• Branch International: Branch is a digital lender using mobile data to provide instant loans to underbanked consumers in India, Kenya, Nigeria, Tanzania, and other emerging markets. Comparable to Gojo's Pasio and group-company digital credit products targeting micro-entrepreneurs in similar geographies.
• Tala: Tala is a mobile lending app serving underbanked customers in India, the Philippines, Kenya, and Mexico with AI-driven credit decisions. Comparable to Gojo's digital credit initiatives targeting similar youth and micro-entrepreneur segments in emerging Asia and Africa.

Broad incumbents

• ProCredit Holding: ProCredit Holding operates a group of commercial banks serving SMEs in Eastern Europe, the Balkans, and Latin America with a development-oriented mandate. Comparable to Gojo as a regulated banking group focused on underbanked business customers in emerging markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=81Ku-1x4NQA

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries13 records

Funding overview

Funding rounds14 records

Investors67 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gojo & Company