M-CRIL

What M-CRIL does

M-CRIL (M-CRIL Limited, formerly Micro-Credit Ratings International Limited) is a development consultancy established in 1998 and headquartered in India (New Delhi/Gurgaon, with regional offices in Patna and country operations in Myanmar, Cambodia and Indonesia). Co-founded by Sanjay Sinha and Frances Sinha, the firm operates across 9 countries in 2024-25 with historical reach across 30-35 countries in Asia, Africa and Eastern Europe/Central Asia. M-CRIL serves inclusive finance institutions, microfinance providers (MFIs), Farmer Producer Organisations (FPOs), NGOs, development sector institutions, multilateral donors and regulators, combining independent institutional assessment with field-based research and on-the-ground implementation. The company was formed in 2016 by merging with its parent EDA Rural Systems (founded 1983) and was rebranded to M-CRIL Limited in 2021 to reflect a broader service portfolio beyond micro-credit ratings.

M-CRIL's service portfolio spans four pillars. Ratings & Certifications covers Microfinance Institutional Ratings (MIR), Social Ratings aligned with USSPM, Microfinance Investment Vehicle (MIV) Ratings, Client Protection Certification (Bronze/Silver/Gold) under the Cerise+SPTF framework, CP Lite for smaller FSPs, SPI-4 audits, Loan Portfolio Audits using stratified random sampling, Code of Conduct Assessments (SIDBI-accredited, ADDO method), Truelift/Poverty Outreach assessments, and ratings/assessments for FPOs, Cooperatives, NGOs and Affordable Schools. Research and Evaluation offers quantitative surveys (CAPI-based), qualitative research (including QuIP in partnership with Bath Social Development Research Unit), mixed-methods impact and market research, theory-based evaluations, country regulatory and policy studies, CSR studies, gender assessments and value chain analysis. Digital Financial Services provides an 8-vector Digital Diagnostic, advisory and program management, product/platform development, and digital credit product and credit scoring development. Advisory & Capacity Building delivers IFC-aligned Risk Diagnostics and Risk Management frameworks (customised from commercial-bank tools with IFC), social performance management support, due diligence of FSPs, FPO promotion (37 FPOs with 20,000+ smallholder farmers as Cluster-Based Business Organisation under the Government of India 10,000 FPOs scheme; 21 FPOs in Sikkim under MOVCD-NER Phases I-IV), and Training-of-Trainers programmes. Methodology IP has been co-developed with Cerise, SPTF, IFC, Water.org (WCST tool), Smart Campaign, ADB and SIDBI, and SurveyCTO is used as the technology partner for remote field data capture.

M-CRIL's revenue model is professional services fees paid by institutional clients on a project-by-project, quote-based basis. Six revenue streams are observable: (1) Ratings, Certifications, Audits and Assessments; (2) Research and Evaluation Assignments; (3) Advisory, Capacity Building and Implementation (multi-year technical assistance engagements); (4) Digital Financial Services Advisory; (5) Training Programs and Training of Trainers (registration-based fees); and (6) Thought Leadership Publications (reputational rather than direct revenue). Pricing is not publicly disclosed; engagements are scope-dependent with senior staff involved in pricing and contracting, training is sold via per-course registration/fee links, and Client Protection Certification is tiered (Bronze/Silver/Gold). Distribution is direct enterprise sales with named country managers acting as regional anchors (India, Myanmar, Cambodia, Indonesia), supported by partnership channels with multilateral bodies (ADB, IFC, UNCDF, UN Joint SDG Fund, FMO, CGAP), industry associations (MMFA, CMA, NAFPO, AFI), and standards bodies (Cerise, SPTF, EIU). The Asian Development Bank (ADB) is the only disclosed institutional investor.

Name

M-CRIL

Legal name

M-CRIL Limited

Website

https://m-cril.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

M-CRIL is an India-headquartered development consultancy (founded 1998) that delivers ratings, certifications, research, and advisory services to inclusive finance institutions, microfinance providers, FPOs, NGOs, and multilateral donors across Asia and Africa.

Ownership category

akta.pro rank

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel

Revenue model

1. Ratings, Certifications, Audits and Assessments: Fee-based engagements for Microfinance Institutional Ratings, Social Ratings, MIV Ratings, Client Protection Certifications (Cerise+SPTF), Code of Conduct Assessments, Loan Portfolio Audits, SPI4 Audits, Truelift/Poverty Outreach assessments, NGO ratings, FPO ratings and Schools ratings. Sold as standalone assignments or combined (e.g., institutional + social rating, or rating + CP certification at relatively small additional cost).
2. Research and Evaluation Assignments: Project-based fees for quantitative surveys, qualitative research, mixed-methods studies, FGDs/KIIs/QuIP, impact assessments, theory-based evaluations, country regulatory & policy studies, CSR studies, gender assessments and value chain analysis. Examples include nationwide impact assessment of Cambodia microfinance (3,200+ households), UN Joint SDG Fund thematic global evaluation, and Fiji financial inclusion demand-side survey.
3. Advisory, Capacity Building and Implementation: Multi-year technical assistance engagements for inclusive FSPs, FPOs and MSMEs; includes risk diagnostics, product profitability analysis, social performance management support, due diligence of FSPs, FPO promotion/hand-holding (e.g., 37 FPOs with 20,000+ smallholder farmers), and embedded programme management (positioning M-CRIL technical resources within client organisations).
4. Digital Financial Services Advisory: Digital diagnostics, product/platform development advisory, digital credit product and credit scoring development, digital transformation advisory and program management for financial institutions and AgTech initiatives; includes human-centric design and behavioral-change methodology.
5. Training Programs and Training of Trainers (ToTs): Paid online and in-person training courses for FSPs, FPOs, SMEs and beneficiaries — e.g., Risk Management for MFIs (English/Myanmar), Internal Audit and Control System, Strategic Business Planning, WCST training for Water.org. Registration-based fee structure with course-fee payment links.
6. Thought Leadership Publications: Knowledge products and advisory notes (e.g., COVID-19 liquidity series, Microenterprise Mela series, Green Finance knowledge product, FMO-commissioned paper) that build reputation and indirectly support consulting pipeline.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels8 records

Core offering

M-CRIL is a development consultancy delivering institutional, social and Microfinance Investment Vehicle ratings; tiered Client Protection Certifications under the Cerise+SPTF framework; field-based research and impact evaluations using quantitative, qualitative and mixed methods; digital finance diagnostics and advisory; and multi-year capacity-building and technical-assistance engagements for microfinance institutions, banks, Farmer Producer Organisations, NGOs, affordable schools and digital credit providers across Asia and Africa. Its work spans ratings/certifications, research and evaluation, digital financial services and advisory/capacity building, with 1,400+ ratings and assessments delivered across 30 countries.

Product overview

M-CRIL (M-CRIL Limited, formerly Micro-Credit Ratings International Limited) is a development consultancy organised around four interconnected service pillars: Ratings & Certifications (Institutional Rating, Social Rating, MIV Rating, Client Protection Certification, CP Lite, Client Protection Assessments, Client Protection for Digital Credit Providers, SPI-4 Audit, Loan Portfolio Audit, Code of Conduct Assessment, Commercial DD, ESG DD, Equity Valuation, Truelift, and ratings for FPOs, Cooperatives, NGOs and Affordable Schools); Research and Evaluation (Quantitative Survey, Qualitative Research, Mixed Methods, Impact/Market Research, Theory Based Evaluations, Country Regulatory & Policy, CSR, Gender Assessment and Value Chain Analysis); Digital Financial Services (Digital Diagnostic, Advisory and Program Management, Product and Platform Development, and DFS value-chain offerings in Agriculture, Remittances and MSMEs, plus Product and Credit Scoring Development and Risk Management); and Advisory & Capacity Building (Risk Diagnostic, Risk Management, Social Performance Management, Due Diligence of FSPs, Product Profitability Analysis, promotion/implementation with MSMEs, FPOs and inclusive FSPs, and Training programmes including Training of Trainers). Together these pillars combine institutional assessment, field-based research and hands-on technical assistance to support inclusive finance, digital finance and responsible finance for low-income households across Asia and Africa.

Differentiator

Problem solved

Functional benefit

Brands

• M-CRIL Centre for Inclusive Business & Sustainability: A vertical established in 2016 within M-CRIL to provide support services for corporate social responsibility (CSR) and inclusive business initiatives to corporate companies, NGOs and other stakeholders.

Products and services

• Microfinance Institutional Rating (MIR) Expert opinion on medium-term institutional viability and credit-worthiness of microfinance institutions, integrating financial analysis with client protection and mission alignment; co-developed rating guidelines with three other specialist rating agencies.
• Social Rating Expert opinion on the social performance of an MFI and the likelihood it meets social goals, aligned with the Universal Standards for Social and Environmental Performance Management (USSPM).
• MIV (Microfinance Investment Vehicle) Rating Rating of Microfinance Investment Vehicles providing transparent and systematic information on financial and social performance at the investor/fund level, adapting MFI-level rating to assess the institutional manager, fund and investees.
• Client Protection Certification (Bronze/Silver/Gold) Tiered certification under the Cerise+SPTF Client Protection Certification Framework, covering eight Client Protection Standards; includes preparation, assessment, reporting, internal review and final review by M-CRIL's Rating Committee. M-CRIL is one of a small number of accredited CP certifiers globally (accredited by Smart Campaign from 2013; by Cerise+SPTF from 2020; continues under Cerise+SPTF framework from April 2024).
• CP Lite (CPP Lite Introductory Qualification) Phased introductory qualification built on 47 core sub-indicators across all seven Client Protection Standards and aligned with ALINUS indicators of SPI-4; developed as stepping stone to full Smart Certification for smaller FSPs.
• Client Protection Assessments Step 2 of the SPTF-CERISE Client Protection Pathway; produces a gap analysis and action plan for FSPs seeking to strengthen client protection systems.
• Client Protection for Digital Credit Providers Assessment of digital credit FSPs against digital credit Client Protection Standards covering risks emerging from digital lending to low-income customers.
• Loan Portfolio Audit Systematic field-based investigation of systems, operations, data and field implementation of credit portfolios to diagnose credit risk; uses M-CRIL's stratified random sampling methodology that deliberately excludes portfolio quality/audit grade as sampling criteria to produce more representative quality estimates.
• SPI-4 / Social Audit Audit of organisational systems for social performance management using the SPI4 framework (Cerise) reflecting the Universal Standards for Social Performance Management.
• Code of Conduct Assessment Assessment of MFIs' adherence to the harmonised microfinance Code of Conduct using the ADDO (Approval, Documentation, Dissemination, Observance) method; SIDBI-accredited.
• FPO/FPC Rating Assessment of Farmer Producer Organisations and Companies across governance, management, operational systems, value chain potential, financial performance and gap analysis.
• NGO Rating Expert opinion on NGO institutional credibility covering governance, management, finance management and programme effectiveness.
• Affordable Schools Rating Rating of government and affordable private schools covering inputs, processes and learning outcomes; co-developed in partnership with Pratham (India), The Teacher Foundation and Ofsted (UK).
• Poverty Outreach / Truelift Assessment Assessment of an institution's depth of outreach to people living in poverty using the Truelift methodology.
• Equity Valuation Equity valuation services for inclusive finance institutions.
• Digital Diagnostic Customised assessment using eight analytical vectors across institution processes, products and customer-facing field operations to build a tailored digital transformation roadmap.
• Digital Product and Platform Development Advisory on the design, development and implementation of digital financial products and platforms, including technical (ICT feasibility, API support) and functional (UI/UX, distribution) aspects.
• Product and Credit Scoring Development Development of digital credit products and credit scoring models, including alternative credit scoring for MSMEs based on digital data trails.
• Risk Diagnostic Assessment of an institution's risk management policies, systems and practices aligned with IFC's framework, covering governance, ICAAP, credit, liquidity, interest rate, market and operations risk.
• Risk Management (Capacity Building) Customised risk management framework for MFIs (governance, liquidity/interest rate, market, credit, operations) including ALM tools, scenario analysis/stress testing, credit scoring models, portfolio concentration assessment, RCSA and KRI dashboards; developed in partnership with IFC.
• Quantitative Survey Research Large and small scale survey work for market research, programme profiling, baseline, endline and cross-sectional impact assessments using CAPI methodology with field-supervisor/enumerator ratios and SurveyCTO for virtual data collection.
• Qualitative Research (incl. QuIP) Key informant interviews, focus group discussions and the Qualitative Impact Protocol (QuIP) for triangulating findings and conducting in-depth case studies; QuIP methodology applied in partnership with Bath Social Development Research Unit (UK).
• Value Chain Analysis Mapping and assessment of value chains covering production, productivity, storage, sales, household economics, forward/backward linkages and market demand-supply.
• Corporate Social Responsibility (CSR) Advisory Support services for CSR and inclusive business initiatives delivered via the M-CRIL Centre for Inclusive Business & Sustainability; includes livelihood mapping, programme review and due diligence of NGO partners for corporate companies, NGOs and other stakeholders.
• Training Programs and Training of Trainers (ToTs) Paid online and in-person training courses for FSPs, FPOs, SMEs and beneficiaries — e.g., Risk Management for MFIs (English/Myanmar), Internal Audit and Control System, Strategic Business Planning, WCST training for Water.org; operates on a per-course registration/fee-payment model.
• FPO Promotion / Cluster-Based Business Organisation (CBBO) Services Multi-year technical assistance for FPO promotion, hand-holding, capacity building and market linkage — M-CRIL served as Cluster-Based Business Organisation (CBBO) for 37 FPOs with 20,000+ smallholder farmers under the Government of India 'Formation and Promotion of 10,000 FPOs' scheme, and 21 FPOs in Sikkim under MOVCD-NER Phase I-IV.

Quantifiable outcome

• In 2024-25, services reached 25.6 million low-income customers and 24.2 million women borrowers across a 15.1 billion USD portfolio
• +6 more outcomes

Named customers37 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature9 records

Partnerships

25 partnerships are on record, tiered flagship / tier 1, core / tier 2 and minor / tier 3.

• Cerise+SPTF (formerly Smart Campaign)flagship / tier 1Strategic or Co-development PartnerM-CRIL has contributed to development of global client protection standards since 2005. M-CRIL was accredited as a CP certifying body by the Smart Campaign from 2013 to 2020 and by Cerise+SPTF from 2020 to March 2024; from April 2024 continues under the Cerise+SPTF framework. Co-developer of CP Certification Standards and CP Pathway.
• International Finance Corporation (IFC)flagship / tier 1Strategic or Co-development PartnerCo-developed the customised Risk Management framework and tools for MFIs (based on commercial-bank frameworks). IFC's Risk Management framework, with a focus on microfinance, anchors M-CRIL's Risk Diagnostic service. IFC has also been a client of M-CRIL for Responsible Finance Assessments (testimonial from Lory CambaOpem, IFC Financial Institutions Group, Oct 2016).
• Small Industries Development Bank of India (SIDBI)flagship / tier 1Strategic or Co-development PartnerSIDBI has accredited M-CRIL to conduct Code of Conduct Assessments of MFIs in India. SIDBI also invited M-CRIL's MD to share views at the National Microfinance Congress 2019.
• Water.orgflagship / tier 1Strategic or Co-development PartnerM-CRIL co-developed the Water Credit Sustainability Tool (WCST) with Water.org and conducted a training workshop for Water.org's team on the tool to evaluate WASH credit portfolios of partner FSPs. M-CRIL also represented by Frances Sinha at World Water Week 2022 panel with WaterEquity and Aqua for All.
• SurveyCTOcore / tier 2Technology or IntegrationSurveyCTO is M-CRIL's technology partner for virtual data monitoring — supports real-time monitoring of enumerators during remote fieldwork (e.g., for UNDP/Reserve Bank of Fiji financial inclusion demand-side survey).
• Social Performance Task Force (SPTF)core / tier 2Strategic or Co-development PartnerLong-running partnership co-developing client protection and social performance standards. Jointly conducted online training on Enabling Digital Payments for MFIs during COVID-19 (300+ participants) and on DFS standards for digital credit providers.
• Incofin Investment Managementcore / tier 2Strategic or Co-development PartnerPartnership with Cerise and M-CRIL to pioneer a social outcomes reporting system, data management and use by Incofin investees. M-CRIL also rates Incofin CVSO and RIF as Microfinance Investment Vehicles (MIV).
• Cambodia Microfinance Association (CMA)flagship / tier 1Strategic or Co-development PartnerCMA commissioned M-CRIL to conduct the first-of-its-kind independent impact assessment of the Cambodian microfinance sector (3,200+ households, 10 provinces). CMA hosted joint dissemination event at Center for Banking Studies, Phnom Penh, Jan 2024.
• Myanmar Microfinance Association (MMFA)flagship / tier 1Strategic or Co-development PartnerM-CRIL, jointly with MMFA, has conducted multiple training programmes (Strategic Business Planning, Risk Management, Internal Audit and Control System) and capacity-building engagements in Myanmar; also facilitated India exposure tour for MMFA members.
• CGAP (World Bank Group)flagship / tier 1Strategic or Co-development PartnerM-CRIL was M-CRIL's research partner for CGAP's 'No Small Business: A Segmented Approach to Better Finance for Micro and Small Enterprises' Focus Note (July 2022) — conducted ethnographic study of 383 MSEs across India, Kenya and Peru.
• UN Joint SDG Fundflagship / tier 1Implementation/ SI/ Consulting PartnerIn 2023, M-CRIL was commissioned to undertake a Thematic Global Evaluation of the UN Joint SDG Fund's country-level SDG Financing Portfolio (61 Joint Programmes across 7 country case studies).
• UNCDF (United Nations Capital Development Fund)flagship / tier 1Implementation/ SI/ Consulting PartnerMulti-year evaluation work for UNCDF, including Mid-Term Evaluation of UNCDF's Expanding Financial Access (EFA) Programme in Myanmar (won 2022 UN Excellence Award for Gender Responsive Evaluation).
• FMO - Dutch entrepreneurial development bankcore / tier 2Strategic or Co-development PartnerFMO commissioned M-CRIL (ED Dr Hema Bansal, co-authored with Isabelle Barrès) to produce 'Responsible Finance Mitigating Consumer Risks in a Digital Age: Recommendations for Funders' paper; FMO to integrate the guidance into its consumer protection framework. M-CRIL also a partner on the FMO 'Client protection in a Digital Age' project.
• Alliance for Financial Inclusion (AFI)core / tier 2Strategic or Co-development PartnerM-CRIL (led by Sanjay Sinha, with Ujjwal Dadhich, Arpita Pal Agrawal and Tirupathaiah Namani) prepared the Glossary of Key Financial Inclusion Terms for AFI, published as 'Words Matter – AFI's Financial Inclusion Dictionary' (Nov 2022).
• UNDP / Reserve Bank of Fiji / Fiji Bureau of Statistics / Pacific Financial Inclusion Programmecore / tier 2Implementation/ SI/ Consulting PartnerM-CRIL conducted a financial services demand-side survey in Fiji for UNDP in close partnership with the Reserve Bank of Fiji, Fiji Bureau of Statistics, Alliance for Financial Inclusion, and the Pacific Financial Inclusion Programme — supporting monitoring of Fiji's National Financial Inclusion Strategy.
• Stockholm International Water Institute (SIWI) / Aqua for All / WaterEquityminor / tier 3GTM or Marketing PartnerM-CRIL (represented by Frances Sinha) joined a World Water Week 2022 panel organised by Aqua for All with National Bank of Kenya, Sidian Bank, and WaterEquity to discuss scaling access to water and sanitation through local financial institutions. M-CRIL contributed experience with impact monitoring of a WASH portfolio.
• EDA Rural Systemsflagship / tier 1Strategic or Co-development PartnerM-CRIL merged with its parent company EDA Rural Systems in 2016. EDA was established in 1983 and is one of the first consultancies of its kind providing professional skills in research and management for development. The M-CRIL brand incorporates EDA Rural Systems.
• Pratham (India) / The Teacher Foundation / Ofsted (UK)core / tier 2Strategic or Co-development PartnerM-CRIL co-developed its affordable-schools rating tool in partnership with Pratham (India), The Teacher Foundation, and Ofsted (UK).
• Economist Intelligence Unit (EIU)core / tier 2Strategic or Co-development PartnerM-CRIL has contributed to EIU's Global Microscope study on the enabling environment for financial inclusion since 2014 — covering 55 countries and five domains (Government/Policy Support, Stability/Integrity, Products/Outlets, Consumer Protection, Infrastructure).
• Bath Social Development Research Unit (UK)minor / tier 3Strategic or Co-development PartnerM-CRIL partnered with Bath Social Development Research Unit (UK) in applying QUIP — the Qualitative Impact Protocol — providing a structured methodology for analysing impact where multiple programmes contribute to change.
• Pact Global Microfinance Fund (PGMF)core / tier 2Implementation/ SI/ Consulting PartnerM-CRIL partnered with PGMF (Myanmar's largest MFI) for capacity building of its Enterprise Team — Enterprise Loan Training for managers and loan officers; Marketing Strategy review; online training to PGMF senior managers (Aug 2019 onwards).
• ADA Luxembourg / MicroFinance Institute Network (MFIN)core / tier 2Strategic or Co-development PartnerM-CRIL is accredited by ADA (Luxembourg), MicroFinance Institute Network, and others; these accreditations are displayed on the Ratings & Certifications page as accreditation badges, supporting inbound client referrals.
• Indian Institute of Management Ahmedabad (IIMA) / Institute of Rural Management Anand (IRMA) / Bharat Inclusion Initiative (BII)core / tier 2Strategic or Co-development PartnerM-CRIL's MD served as Lead Discussant for the Financial Inclusion for Rural Transformation (FIRT) joint research initiative by IIMA-IRMA-BII on 'Impact of Financial Inclusion on Household Coping Mechanisms' (launch Dec 2021).
• Amity Global Business Schoolminor / tier 3GTM or Marketing PartnerM-CRIL's then-MD Arpita Pal Agrawal was on the expert panel at Amity Global Business School's Leadership Summit 2022 on 'Skilling, Re-skilling and Up-skilling: The Future of Work'.
• TheCSRUniverseminor / tier 3GTM or Marketing PartnerSanjay Sinha (MD, M-CRIL) served on the Jury Panel for TheCSRUniverse COVID Response Impact Awards 2021 alongside directors of IIM Bangalore, IIM Indore, IRMA, TISS.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• MicroRate: Independent microfinance rating agency offering institutional, social and MIV ratings for MFIs worldwide. Closest direct peer to M-CRIL's core MIR, Social Rating and MIV Rating franchise, competing for the same institutional investor and FSP clients.
• Symbiotics: Swiss-based advisory, research and asset management firm focused on inclusive finance; conducts MIV and MFI ratings comparable to M-CRIL's MIV rating offering and competes for the same development finance / DFI mandates.
• Cerise: French social performance organization and co-steward (with SPTF) of the Client Protection Standards framework. Conducts SPI-4 audits and social performance assessments that overlap with M-CRIL's SPI-4 and CP Certification services.
• MIX (now 60 Decibels): Microfinance benchmarking and social/impact measurement platform; provides standardized MFI performance data and impact ratings (incl. 60d) that overlap with M-CRIL's rating, Truelift and impact assessment work for inclusive finance investors.
• PlaNet Finance: International microfinance network and rating/consultancy (PlaNet Rating); competes with M-CRIL in MFI ratings, social performance audits and capacity building for inclusive finance institutions across developing markets.

Emerging players

• Incofin Investment Management: Impact investment manager in microfinance/inclusive finance; both a customer and emerging player in MIV ratings and social outcomes measurement (jointly with Cerise and M-CRIL), with growing in-house capability that overlaps with M-CRIL's advisory offering.

Broad incumbents

• ICRA Limited: Major Indian credit rating agency (Moody's group); a broad incumbent with overlapping ratings and ESG advisory capability but does not specialize in microfinance or inclusive-finance institutional ratings like M-CRIL.
• CRISIL Limited: India's largest rating agency (S&P Global affiliate); broad incumbent offering ratings, research and ESG/advisory services that can encroach on M-CRIL's SME/MSME and FPO credit-assessment adjacencies.
• Vigeo Eiris (Moody's ESG Solutions): Global ESG and responsible-finance ratings/score provider; broad incumbent with overlapping capabilities in social/ESG assessment of FIs that can compete with M-CRIL's social rating, ESG DD and Truelift work at the upper end of the market.

Regional players

• ADA (Appui au développement autonome): Luxembourg-based inclusive finance NGO that partners with and accredits M-CRIL; provides technical assistance and microfinance ratings support across Africa and Latin America, with overlapping inclusive-finance capacity-building work but a different geographic focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

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

Frequently asked questions about M-CRIL