IDB Invest has closed a US$5 million equity investment with Netwey, a Mexican internet service provider, to expand its fiber-optic network and improve internet accessibility. This investment aims to deliver unlimited high-speed internet to more low-income households, thereby helping reduce the digital divide.
The investment is part of a US$10 million capital round in collaboration with Finnish development financier and impact investor Finnfund.
The project seeks to expand Netwey’s fiber-optic network, enabling more low-income households to access high-speed internet. Broadband services have a transformative impact on both the economy and society, offering numerous benefits—from more productive businesses and efficient public services to empowering individuals through access to knowledge and information.
More than 21 million Mexican households in underserved areas currently lack adequate internet access, many of them belonging to lower socioeconomic segments. Significant investments have been made in fiber-optic infrastructure; however, these efforts have been concentrated mainly in high-income urban centers, leaving large parts of the country without service.
IDB Invest will support Netwey in implementing best practices in key areas such as corporate governance and environmental and social standards. This includes improving the efficiency, accountability, and transparency of the board of directors and strengthening internal controls through risk mapping and internal audit planning.
About IDB Invest
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable businesses and projects to achieve financial results while maximizing economic, social, and environmental development in the region. With a portfolio of US$21 billion in assets under management and 394 clients across 25 countries, IDB Invest provides innovative financial solutions and advisory services tailored to the needs of its clients across various sectors. Visit our website at idbinvest.org
.About Netwey
Founded in 2018, Netwey aims to reduce Mexico’s digital divide by providing prepaid internet services to underserved communities. The company offers high-quality internet access in rural and suburban areas, often being the only available provider. Beyond improving its users’ quality of life through better connectivity, this initiative has created a significant number of formal job opportunities in low-income regions, frequently using local dialects to better serve customers’ needs.
About Finnfund
Finnfund is a Finnish development financier and impact investor that builds a sustainable future and creates lasting impact by investing in companies that address global development challenges. Each year, Finnfund invests between €200 million and €250 million in 20–30 companies across developing countries. Its priority sectors include renewable energy, sustainable forestry, sustainable agriculture, financial institutions, infrastructure, and digital solutions. Finnfund’s current investments, commitments, and investment decisions total approximately €1.22 billion, about half of which are in Africa. The organization employs around 100 people in Helsinki and Nairobi.