Alterfin
Alterfin is a Belgian cooperative impact investor founded in 1994 that mobilizes capital from approximately 5,800 members to provide financing to microfinance institutions and agricultural enterprises across 32 developing countries in Latin America, Africa, and Asia, reaching 4 million+ unbanked individuals.
- Company typePrivate
- Founded1994
- HeadquartersBrussels, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Alterfin does
Alterfin is a Belgian cooperative impact investor founded in 1994, headquartered in Brussels, with a mission to improve the livelihoods of economically disadvantaged communities in developing countries. The company mobilizes capital from approximately 5,800 cooperative members (996,000 shares outstanding) and deploys it through two core financing verticals: Microfinance Institution Financing and Sustainable Agriculture Financing. Loan products are tailored to partner needs, with MFI loans typically sized in USD, EUR, or local currency over 2-4 years, and agricultural loans ranging from $100,000 to $1,500,000 USD in short-term (3-12 month) campaign credit or long-term (up to 5-year) investment credit formats. Alterfin serves as first lender to 49% of its 57 agricultural enterprise partners and reaches 4 million+ unbanked individuals (79% women, 66% rural) through partner institutions.
The organization operates across 32 countries (11 in Latin America, 12 in Africa, 9 in Asia) with regional field representatives in Bolivia, Costa Rica, Honduras, Peru, Côte d'Ivoire, and Kenya. Capital is raised at two price points: €62.50 per share for individual members and €250 per share for institutional members, with a cooperative governance structure capping any single member's voting power at 10%. The technology stack is primarily a financial intermediary platform with no proprietary technology disclosed; supporting digital products include the Human Yield Calculator (an impact visualization tool), the MyAlterfin member portal, and Gift Cards. The Alterfin Guarantee Fund (vzw/ASBL), established in 2000, provides guarantees, currency risk coverage, and technical assistance to partners excluded from traditional finance, and currently holds approximately €2 million.
The business model centers on cooperative share sales as the primary capital-raising mechanism, augmented by DFI and bank co-funding (BIO, EIB, EDFI Agrifi, Rabobank, Triodos, BNP Paribas Fortis, Flemish Government, Symbiotics) and partnership networks including Aceli Africa, CSAF, Impact Finance Belgium, and Oxfam. Revenue is generated through the spread between capital raised and deployed as loans, plus fees and partner co-funding flows. The company holds B Corp, Finance Solidaire, and Fairtrade @ Work certifications, and publishes SFDR Article 9 'dark green' sustainability disclosures. A team of 35 people from 15 nationalities executes the strategy.
Alterfin firmographics
Firmographics- Name
- Alterfin
- Legal name
- Alterfin CV
- Website
- https://alterfin.be
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Alterfin is a Belgian cooperative impact investor founded in 1994 that mobilizes capital from approximately 5,800 members to provide financing to microfinance institutions and agricultural enterprises across 32 developing countries in Latin America, Africa, and Asia, reaching 4 million+ unbanked individuals.
- Ownership category
- akta.pro rank
Alterfin industry classification
Industry- Product category
- Impact Investing / Microfinance
- NAICS
- Other Investment Pools and Funds (5259), Credit Intermediation and Related Activities (522)
- SIC
- Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
- akta.pro secondary industries
- Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), Transition / Engagement & Stewardship Funds (FSANAJAO)
Keywords
Where Alterfin is headquartered
LocationHeadquarters
- HQ city
- Brussels
- HQ country
- Belgium
- HQ region
- Europe
Offices2 records
Markets served
Alterfin business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Others
Revenue model
- Cooperative Share Sales: Alterfin generates revenue through the sale of shares to members. Individual investors purchase shares at €62.50 per share (minimum €62.50), while organizations and institutions purchase shares at €250 per share (minimum €250). This creates a cooperative ownership structure where members become stakeholders in the organization.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Individual member shares |
| Unit Pricing | Multi-year contract | Organization/institutional member shares |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
Alterfin product offering
Product offeringCore offering
Alterfin is a Belgian cooperative impact investor that pools capital from approximately 5,800 individual and organizational members through cooperative share subscriptions and channels those funds into loans to microfinance institutions and sustainable agriculture projects across roughly 32 countries. Its core sellable offering consists of cooperative shares (priced at €62.50 for individuals and €250 for organizations) and impact lending products directed at financial inclusion and sustainable farming value chains.
Product overview
Alterfin is a Belgian cooperative impact investor offering a unified co-op membership share program as its core product. The offering centers on Alterfin Co-op Shares (€62.50 for individuals, €250 for organizations), which provide modest financial returns and measurable social impact ('Human Yield'). Complementary services include the Human Yield Calculator for impact visualization, MyAlterfin member portal, and Gift Cards. Alterfin channels capital through two main financing products: Microfinance Institution Financing and Sustainable Agriculture Financing. Support services include the Alterfin Guarantee Fund, Impact Studies, Portfolio Reports, and SFDR Sustainability Disclosures. The company operates across Latin America, Africa, and Asia with local field presence.
Differentiator
Problem solved
Functional benefit
Products and services
- Cooperative Shares (Individuals) Membership shares priced at €62.50 that individual ethical investors purchase to become cooperative members, granting governance rights and channeling their capital into Alterfin's impact lending portfolio. Designed for retail values-driven savers.
- Cooperative Shares (Organizations) Membership shares priced at €250 each that organizations purchase to become cooperative members and deploy capital toward Alterfin's impact lending activities. Designed for institutions and foundations with ESG/CSR mandates.
- Microfinance Institution Financing Wholesale loans provided to microfinance institutions in emerging and developing markets so they can on-lend to micro-entrepreneurs and underserved populations. Targeted at partner MFIs seeking responsible financing for portfolio growth.
- Sustainable Agriculture Financing Financing extended to sustainable agriculture cooperatives and value-chain operators to support environmentally responsible farming and smallholder livelihoods. Designed for agricultural partners aligned with social and environmental criteria.
Quantifiable outcome
- 4+ million unbanked individuals reached (79% women, 66% rural)
- +3 more outcomes
Companies that use Alterfin
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles3 records
Alterfin technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Alterfin partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Aceli AfricacorePartnership to mobilize and channel capital to agricultural enterprises across Africa, supporting financial inclusion and sustainable agriculture
- BRSminorCooperative banking network partner
- BSPHOminorDevelopment finance partner organization
- CrédalminorBelgian cooperative providing microfinance and social finance solutions
- CSAFcoreConvergence of Stakeholder-Focused Investors network, supporting coordinated impact investing
- Entraide et FraternitéminorBelgian NGO partnership supporting development initiatives
- HumundiminorNGO partner supporting sustainable agriculture and market access programs
- Impact Finance BelgiumcoreBelgian impact finance network coordinating sector-wide collaboration
- OxfamcoreGlobal NGO partnership for development finance and social impact
- Oxfam WereldwinkelsminorFair trade retail network distributing Alterfin's impact narrative to consumer base
- RikoltocoreInternational NGO partnership for sustainable agriculture and market access
- ssnupcoreSmallholder Safety Net Uptake Program coordinating support for smallholder farmers
- TrustLawminorThomson Reuters Foundation legal pro bono network providing legal support
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Alterfin competitors and assessment
Company assessmentDirect peers
- Symbiotics: Swiss impact investment platform that originates, structures, and distributes inclusive finance opportunities; Alterfin is a partner, and Symbiotics operates in the same MFI/smallholder financing market.
- BlueOrchard Finance: Swiss impact investment manager and pioneer in microfinance; lends to MFIs and smallholder farmers globally with comparable impact mandate and target partners.
- MCE Social Capital: US-based impact investment fund providing debt capital to MFIs and small enterprises in developing countries; comparable mission, target customers, and risk/return profile.
- Oikocredit: Dutch cooperative that pools capital from members to provide loans and equity to microfinance institutions and smallholder agriculture cooperatives in developing countries — virtually identical business model to Alterfin, with similar geographic footprint.
- Incofin Investment Management: Belgian impact investment manager focused on financial inclusion through MFIs and smallholder farmers in emerging markets; comparable fund vehicles, similar Latin America/Africa/Asia focus, and overlapping partner universe.
- responsAbility Investments: Swiss impact asset manager providing debt and equity financing to financial institutions and agricultural SMEs in developing countries — directly comparable product set and customer segments.
- Shared Interest: South African cooperative that provides loan guarantees and financing to disadvantaged communities in Southern Africa; comparable cooperative impact-investing model.
Broad incumbents
- BIO (Belgian Investment Company for Developing Countries): Belgian DFI that provides direct loans and equity to private-sector enterprises in developing countries; an Alterfin partner and capital provider, but operates with a broader mandate and larger ticket sizes.
- Triodos Investment Management: Subsidiary of Dutch sustainable bank Triodos that manages impact investment funds including inclusive finance; broader product portfolio than Alterfin but overlapping microfinance investing exposure.
- European Investment Bank (EIB): EU's lending institution channeling development and climate finance into emerging markets; an Alterfin partner providing significant capital backing, but with much larger scale and broader mandate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Alterfin social profiles
Digital presenceAlterfin compliance and trust
Trust signalCompliance3 records
Alterfin financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alterfin leadership team
Management profileNumber of profiles
Alterfin funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alterfin M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alterfin
What does Alterfin do?
Alterfin is a Belgian cooperative impact investor that pools capital from approximately 5,800 individual and organizational members through cooperative share subscriptions and channels those funds into loans to microfinance institutions and sustainable agriculture projects across roughly 32 countries. Its core sellable offering consists of cooperative shares (priced at €62.50 for individuals and €250 for organizations) and impact lending products directed at financial inclusion and sustainable farming value chains.
Is Alterfin a public or private company?
Alterfin is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Alterfin founded?
Alterfin was founded in 1994. It employs 11 to 50 people.
Where is Alterfin based?
Alterfin is headquartered in Brussels, Belgium, in the Europe region.
How does Alterfin make money?
One revenue line is on record: cooperative Share Sales.
Who are Alterfin's main competitors?
Direct peers on record are Symbiotics, BlueOrchard Finance, MCE Social Capital, Oikocredit, Incofin Investment Management, responsAbility Investments and Shared Interest. Broad incumbents are BIO (Belgian Investment Company for Developing Countries), Triodos Investment Management and European Investment Bank (EIB).
Does Alterfin have an API?
No public API is recorded for Alterfin.
What industry is Alterfin in?
Alterfin's product category is Impact Investing / Microfinance. Its primary akta.pro industry code is FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure), with a secondary code of BPADACAJ, Private Sector & Blended Finance Arms (IFC-type). Its NAICS code is 5259 and its SIC code is 6153.