Omidyar Network and Unitus are pleased to announce plans to dramatically expand the worldwide availability of financial services to the poor. Omidyar Network, a philanthropic investment firm established by Pierre and Pam Omidyar, will invest $9 million in Unitus. This will represent Omidyar Network's largest grant in microfinance to date. Unitus, an international nonprofit organization dedicated to accelerating access to microfinance, will use this support to increase its network of microfinance partners and expand into several new regions over the next three years. This expansion will enable Unitus microfinance institution (MFI) partners to grow rapidly, strengthen their businesses, and reach millions of individuals currently excluded from the formal economic system with life-changing financial services.

"When Omidyar Network participated in the Unitus Leadership Summit last year in the Philippines, Pierre and I were impressed by the energy and enthusiasm with which Unitus and its partners are extending the reach of microfinance and transforming the lives of the poor," said Matt Bannick, Managing Partner, Omidyar Network. "When we look at the incredible results that Unitus and its partners have achieved over the past six years, we are thrilled to continue to support, scale, and champion these innovative organizations as they seek to maximize social impact."