People Reached
Data in this report is accurate as of 31 December 2021; Emerging Consumers are defined as those earning less than $11.20 a day (2017 PPP int. $)
A message from our Founder and CEO
In a moment of global volatility, it’s worth pausing to reflect on what can be achieved through sustained commitment and discipline. This year, LeapFrog celebrates 15 years since its founding, when we set out to reach 25 million low-income people via purpose-led companies. Many thought these ambitions impossible and foolhardy. Today marks an important milestone: LeapFrog companies have reached 250 million emerging consumers with healthcare or financial tools. This is 10x the original target and over 5% of the world’s low-income population.
LeapFrog's industry-leading impact measurement and management methods are evident in the results below. Absolutely clear too is the commercial outperformance of Profit with Purpose strategies. Across both healthcare and financial services industries, and in all investment regions, LeapFrog companies have achieved outstanding growth in revenue and valuation, significantly outperforming relevant benchmarks.
We will continue to invest in technology-enabled companies that deliver essential services, and support them to scale across global growth markets. These companies serve the unquenchable desire from the world’s 4 billion low-income consumers to achieve health and security for their families. LeapFrog companies also provide employment where it makes the greatest difference. In diverse ways, they empower people to change their own lives. Rich data and powerful stories like these keep us going, daily. We hope they inspire you today.
Onward and upward,
In a challenging year for global growth markets, our diversified portfolio continued to thrive.
On average for portfolio companies
Total revenue across our portfolio
versus 17.9% industry average
By region, and by sector, LeapFrog’s high-performing, resilient portfolio of impactful companies consistently outperform relevant benchmarks.
FMV represents organic fair market valuation growth in companies held by all LeapFrog funds across the time period. LeapFrog’s valuations are reviewed and approved by an internal Valuation Committee comprised of senior partners, and independently audited on an annual basis by PwC.
Providing quality and reliable care and enabling wellness
Quality pharmaceuticals enabled
Services rendered including teleconsultations
Diagnostic tests and lab supplies provided
Enabling people and businesses to achieve security and prosperity
loans disbursed
insurance claims paid
loans to support 5.7 million MSMEs
LeapFrog draws continuous data and insights from emerging consumers to reshape products, revolutionise distribution, and meet the real needs of customers.
In recent years, demand for health and life insurance products surged. LeapFrog companies like BIMA, miLife, PasarPolis and AIICO have responded by launching a range of new products, and LeapFrog companies paid out over 1.2 million claims in the last quarter of 2021.
Ghanaian insurer miLife saw 67% growth in 2021 after targeting new products towards the informal sector and launching innovative partnerships with local telecommunications providers, amongst other initiatives.
Women and girls reached
In total portfolio workforce
Filled by women vs 14.5% MSCI EM benchmark
Created by our portfolio companies
Salaries paid, flowing through local economies
Spent on training and development
Learn how Indonesian insuretech PasarPolis is rapidly growing in a previously underserved market.
Learn how fintech JUMO builds unique customer profiles with mobile data to reduce the cost of business loans.
Our specialised CX Launchpad team excels in data-driven interventions that improve the quality of our portfolio companies’ products and services, and help boost growth and impact through better customer retention and turnaround times.
Microloan provider Dvara created digital credit templates for underwriting loans with the help of our CX Launchpad. This reduced pain points in the credit check process and improved loan volume growth by 2x. Turnaround time for disbursements was reduced from 10-12 days to just two days.
Nigerian insurer AIICO undertook comprehensive customer journey mapping with the CX Launchpad as part of a process to modernise its claims collection and boost online payments. The work resulted in online payments increasing from 39% to 59%, and its CX score rose from 68% to 89%.
Indonesian insurer PasarPolis worked with our CX Launchpad to improve the onboarding and claims processes for their Total Loss Damage policies. The work resulted in a 25% increase in policies and reduction in claims turnaround times from 10 days to less than four.
Our impact team has made significant contributions to raising impact reporting standards over the past year, with a focus on six key Sustainable Development Goals.
In conjunction with the Global Impact Investing Network (GIIN) they helped to build the industry’s first impact benchmark for financial inclusion, contributed to BlueMark’s “Raising the Bar” report on the key elements of impact performance reporting, and also partnered with emerging market data consultancy 60 Decibels to create the inaugural Financial Inclusion Index.
As climate change threatens communities globally, we have a duty and an opportunity to support pathways out of poverty that deliver rapid decarbonisation of all sectors of industry. This challenge, the Just Transition, is central to LeapFrog’s portfolio management and future fund strategies.
LeapFrog was recently identified as the exemplar of a Just Transition private equity fund by the G7 Taskforce for Impact Investing, for its work to ensure “improved financial inclusion facilitates a transition to clean technologies like electric vehicles, smart homes, and improved business processes”.
HDBank is a listed top-tier Vietnamese retail and business bank serving 10 million customers, especially low-income consumers and micro, small and medium enterprises.
CarDekho is a leading auto-tech and mobility financing company in India, operating auto sales, classifieds, finance, and insurance businesses. It serves 3.6 million emerging consumers, and a staggering 86% of Indian purchasers will visit the platform before buying a vehicle.
Interswitch is a leader in payments technology in Africa, dedicated to developing world-class technology to make payments faster, safer and more dependable.
Redcliffe Lifetech is an affordable and convenient omni-channel diagnostics service operating across 14 cities in India and facilitating at-home diagnostics for more than 3500 medical tests
LeapFrog continues to expand its capabilities and platform to deliver a new era of impact. LeapFrog’s team has expanded significantly in the last year, following a major $500 million partnership with Temasek, with the addition of several new senior leaders and the appointment of Dominic Barton, former Global Managing Partner of McKinsey & Company, as Chairman.
