F-Road

completed

The proposed project will likely consist of IFC’s equity investment of up to RMB50 million (US$8 million equivalent) in Shanghai F-Road Commercial Service Co., Ltd. (“F-Road” or the “Company”). F-Road, founded in Shanghai in 2008, is a financial service provider specialized in providing financial access to customers of small financial institutions through mobile devices. The project represents an opportunity for IFC to support a leading mobile banking service provider in China which serves a large number of rural population and micro-business sector through partnering with small financial institutions, with high potential of scaling up its outreach and impacts in rural and frontier regions. By using mobile devices, the underserved rural population and micro businesses would be able to access basic banking services including money transfer, remittance, bill payment, card operations, lending, account inquiry, account management, and cash-in/out through mobile payment platform established by F-Road.