Kiva gets USD1m donation for microfinance platform

Supporting entrepreneurs in developing world

Online micro-lending platform Kiva has raised USD1m in the form of a donation from LinkedIn co-founder and Greylock partner Reid Hoffman. Hoffman now sits on the board of the non-profit company, which processes micro-loans starting at $25 to support entrepreneurs in the developing world. His donation is in a pool from which 40,000 people can make a USD25 donation without spending their own money, as a way to encourage people to engage with the service.

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