MYC4
MYC4 A/S was a company that allowed its users to invest microcredits via an internet-platform in medium and small businesses in developing countries in Africa. On December 7, 2016, the MYC4 Foundation informed its investors it has decided to cease its activity and to liquidate as solvent. The MYC4 Foundation was the independent, non-profit entity, accepting funds from donors and holding investors’ money on escrow and separate from MYC4 A/S. The MYC4 platform has been closed as of June 1st 2019 and will not be reopened. History MYC4 was founded as a joint venture in May 2006 by Mads Kjær, chairman and former CEO of the Kjær Group and Honorary Danish Consul to Ethiopia, and Tim Vang. MYC4 is currently headquartered in Copenhagen, Denmark with a regional office in Nairobi, Kenya. As of the beginning of 2011, it employed 7 people at its Danish office. Between the company's creation to 2011, 19,073 investors from 115 countries had invested more than € 15 million in 8,334 businesses in seven African countries - Uganda, Kenya, Côte d'Ivoire, Rwanda, Ghana, Senegal and Tanzania. Annual reports and up-to-date statistics are available. Method of operation African businesses would apply for a loan at a local