At Circles of Angels, we have a vision to democratise cross-border social impact financing from funders directly to Social Enterprises, with clarity of transparency and flows of funds of how the lives of producers are actually being impacted. Our business model utilises blockchain technology to create a funding network that democratises impact funding and makes it globally accessible to everybody.
Research suggests that an estimated 767 million people live below the international poverty line of $1.90 a day, whilst 2.1 billion people live on less than $3.10 per day. These statistics have caused a catalysing movement of young Social Enterprises (SE) rising up to tackle this challenge. However, SEs, who work in the space of poverty eradication find it challenging to obtain access to finance to sustain and grow their businesses. This is due to the inability for banks to provide loan without collateral and the stakeholders to authentically track the use of employed funds. On the other hand, socially minded investors wants to solve this issue but do not have the right tools to sieve out social entrepreneurs that are truly impactful. COA aims to bridge this financing gap by bringing funding opportunities to underserved communities through providing a global platform that grants access to cross border financing for SE.
We propose a product platform that utilises blockchain and creates an affordable opportunity for these underserved communities. This digital technology reduces bank remittance fees, and results in cheaper costs and faster turnaround times. Additionally, this promotes transparency over funds.
Our platform also provides a myriad of benefits through digital technology to boost economic growth and efficiency, enables a more productive workforce, and improve service delivery in impoverished communities. At COA, we strive to make a positive contribution towards reaching global prosperity and a world without poverty by empowering marginalised communities through economic opportunity. We believe that our global platform is the sustainable tool that the Mohammed Bin Rashid Initiative for Global Prosperity is searching for.