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about=\u0022\/case\/kivas-impact-strategy\u0022 class=\u0022case-study full clearfix case-details-page-wrapper\u0022\u003E\n  \u003Cdiv class=\u0022container-fluid case-details-block green-january full-width-wrapper\u0022\u003E\n    \u003Ca id=\u0022scrolltop_button\u0022\u003E\u003C\/a\u003E\n\n    \u003Cdiv class=\u0022row\u0022\u003E\n      \u003Cdiv class=\u0022col-lg-12 full-width-inner-wrapper\u0022\u003E\n        \u003Cdiv class=\u0022row\u0022\u003E\n          \u003Cdiv class=\u0022col-lg-12 btn-group\u0022\u003E\n            \u003Ca href=\u0022\/search\u0022 class=\u0022btn padding-5 insead-white green-december-text rounded-2 back-to-search-button\u0022\u003E\n              Back to Search\n            \u003C\/a\u003E\n          \u003C\/div\u003E\n        \u003C\/div\u003E\n\n        \u003Cdiv class=\u0022row\u0022\u003E\n          \u003Cdiv class=\u0022col-lg-12 badges-block\u0022\u003E\n           \u003Cspan class=\u0022green-june-text text-uppercase product-type-badges\u0022\u003ECase Study\u003C\/span\u003E\n                                                            \n                          \u003Cimg class=\u0022extra-icon\u0022 src=\u0022\/themes\/custom\/case_publishing\/dist\/images\/extra@3x.png\u0022 alt=\u0022extra\u0022 title=\u0022Case with extra material\u0022\u003E\n            \n          \u003C\/div\u003E\n        \u003C\/div\u003E\n\n        \u003Cdiv class=\u0022row\u0022\u003E\n\n          \u003Cdiv class=\u0022col-lg-6 col-md-6 individual-banner-section\u0022\u003E\n            \u003Ch1 class=\u0022green-august-text individual-page-title\u0022\u003E \u003Cspan class=\u0022field field--name-title field--type-string field--label-hidden\u0022\u003EKiva\u0026#039;s Impact Strategy\u003C\/span\u003E\n\u003C\/h1\u003E\n            \u003Cdiv class=\u0022row casestudy-fields-block\u0022\u003E\n\n              \u003Cdiv class=\u0022col-lg-4 col-md-4 col-sm-6 col-xs-6 col-6 casestudy-field\u0022\u003E\n                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with your account.\u0022\u003E\n                        Inspection Copy\n                        \u003Ci class=\u0022fa icon-square fa-cloud-download green-march-text\u0022\u003E\u003C\/i\u003E\n                      \u003C\/a\u003E\n                                                      \u003C\/div\u003E\n              \u003C\/div\u003E\n              \u003Cdiv class=\u0022btn-group case-document-link\u0022\u003E\n                                                      \u003Ca class=\u0022btn green-february-text btn-square green-august no-permission\u0022 href=\u0022#\u0022 title=\u0022Access is not permitted with your account.\u0022\u003E\n                      Educator Material \u003Ci class=\u0022fa icon-square fa-cloud-download green-march-text\u0022\u003E\u003C\/i\u003E\n                    \u003C\/a\u003E\n                  \n                  \u003C!-- Modal --\u003E\n                  \u003Cdiv class=\u0022modal fade basic-modal\u0022 id=\u0022teachingNotes\u0022 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class=\u0022individual-main-block\u0022\u003E\n          \u003Cdiv class=\u0022page-content-tab\u0022\u003E\n                          \n              \u003Cul class=\u0022nav nav-tabs gradient-border-left-right\u0022 id=\u0022sortable_tab\u0022 role=\u0022tablist\u0022\u003E\n                \u003Cli class=\u0022active nav-item\u0022\u003E\u003Ca data-bs-target=\u0022#home\u0022 data-bs-toggle=\u0022tab\u0022 href=\u0022#home\u0022 class=\u0022nav-link active\u0022\u003EHome\u003C\/a\u003E\u003C\/li\u003E\n                                  \u003Cli class=\u0022nav-item\u0022\u003E\n                    \u003Ca href=\u0022\/ajax\/microsite\/891\u0022 class=\u0022nav-link disabled\u0022 rel=\u0022tooltip\u0022 title=\u0022Only users logged in as Educators can access this page.\u0022\u003ERestricted Material for Instructors\u003C\/a\u003E\n                  \u003C\/li\u003E\n                              \u003C\/ul\u003E\n              \u003Cdiv class=\u0022tab-content\u0022 id=\u0022sortable_tab_content\u0022\u003E\n                \u003Cdiv class=\u0022tab-pane fade show active\u0022 id=\u0022home\u0022 role=\u0022tabpanel\u0022 aria-labelledby=\u0022home-tab\u0022\u003E\n                  \u003Cdiv class=\u0022addthis_inline_share_toolbox\u0022\u003E\u003C\/div\u003E\n                                      \u003Cdiv class=\u0022tab-content-block\u0022\u003E\n                      \u003Cdiv class=\u0022tab-subtitle green-july-text\u0022\u003ESummary\u003C\/div\u003E\n                      \u003Cdiv class=\u0022p-14 insead-grey-dec-text\u0022\u003E\n                        \u003Cp\u003E\n                          \u003Cp\u003EKiva is an online platform that sources crowdfunding for low-income borrowers. By 2018 it has facilitated $1.1 billion in loans to 2.5 million borrowers worldwide. However, as questions are raised about the adverse effects of microcredit worldwide, Kiva must adapt its strategy to demonstrate maximum impact on improving the lives of the poor, while continuing to grow the user base and ensure financial sustainability.\u003C\/p\u003E\n\n                        \u003C\/p\u003E\n                      \u003C\/div\u003E\n                    \u003C\/div\u003E\n                  \n                  \n                                      \u003Cdiv class=\u0022tab-content-block\u0022\u003E\n                      \u003Cdiv class=\u0022tab-subtitle green-july-text\u0022\u003ETeaching objectives\u003C\/div\u003E\n                      \u003Cdiv class=\u0022p-14 insead-grey-dec-text\u0022\u003E\n                        \u003Cp\u003E\n                          \u003Cp\u003EThis case is well-suited for modules related to social enterprise strategy, microfinance, financial inclusion, crowdfunding, technology for good, scaling up, venture philanthropy, impact investing and impact evaluation. It demonstrates how \u201cgood intentions\u201d are not the same as \u201cmaximizing impact\u201d, and how an enterprise can contribute to, as well as learn from, cumulative knowledge on how impact is best achieved in a given sector.\u003C\/p\u003E\n\n                        \u003C\/p\u003E\n                      \u003C\/div\u003E\n                    \u003C\/div\u003E\n                  \n                                      \u003Cdiv class=\u0022keyword-content-block\u0022\u003E\n                      \u003Cdiv class=\u0022tab-subtitle green-july-text\u0022\u003EKeywords\u003C\/div\u003E\n                      \u003Cdiv class=\u0022p-14 insead-grey-dec-text\u0022\u003E\n                        \u003Cul class=\u0022individual-page-keywords\u0022\u003E\n                                                      \u003Cli\u003E\n                              Microfinance\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Financial Inclusion\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Venture Philanthropy\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Base of the Pyramid (BOP)\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Impact Investing\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Business Model Innovation\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Social Enterprise\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Crowdfunding\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Sustainability\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Social Impact\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Impact Evaluation\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Access to Finance\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Entrepreneurship\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Economic Development\n                            \u003C\/li\u003E\n                                                      \u003Cli\u003E\n                              Q11819\n                            \u003C\/li\u003E\n                                                  \u003C\/ul\u003E\n                      \u003C\/div\u003E\n                    \u003C\/div\u003E\n                  \n                \u003C\/div\u003E\n                                  \u003Cdiv id=\u0022microsite-117356\u0022 class=\u0022tab-pane fade\u0022\u003E\n                    Loading please wait.\n                  \u003C\/div\u003E\n                              \u003C\/div\u003E\n                        \u003C\/div\u003E\n\n\n        \u003C\/div\u003E\n\n\n      \u003C\/div\u003E\n      \u003Cdiv class=\u0022col-lg-4 col-md-4 insead-white individual-right-sidebar\u0022\u003E\n\n        \n        \u003Cdiv class=\u0022sidebar-block\u0022\u003E\n          \u003Cspan class=\u0022sidebar-heading\u0022\u003E\n                          About the Author(s)\n                      \u003C\/span\u003E\n          \u003Chr\u003E\n                      \u003Cdiv class=\u0022sidebar-block-body\u0022\u003E\n              \u003Cdiv class=\u0022author-image-wrapper\u0022\u003E\n                                  \u003Cimg src=\u0022\/sites\/publishing\/files\/Jasjit-Singh-12735_66.jpg\u0022 alt=\u0022Singh\u0022 class=\u0022rounded-circle\u0022\/\u003E\n                              \u003C\/div\u003E\n              \u003Cdiv class=\u0022sidebar-content\u0022\u003E\n                \u003Cdiv class=\u0022sidebar-sub-title green-july-text\u0022\u003E\n                  \u003Ch4\u003E\n                    \u003Ca href=\u0022\/author\/jasjit-singh\u0022 class=\u0022green-july-text\u0022 target=\u0022_blank\u0022\u003E\n                      Jasjit\u0026nbsp;Singh\n                    \u003C\/a\u003E\n                  \u003C\/h4\u003E\n                \u003C\/div\u003E\n                \u003Cdiv class=\u0022sidebar-sub-content green-december-dark-text author-designation\u0022\u003E\n                  Professor of Strategy\n                \u003C\/div\u003E\n              \u003C\/div\u003E\n            \u003C\/div\u003E\n                      \u003Cdiv class=\u0022sidebar-block-body\u0022\u003E\n              \u003Cdiv class=\u0022author-image-wrapper\u0022\u003E\n                              \u003C\/div\u003E\n              \u003Cdiv class=\u0022sidebar-content\u0022\u003E\n                \u003Cdiv class=\u0022sidebar-sub-title green-july-text\u0022\u003E\n                  \u003Ch4\u003E\n                    \u003Ca href=\u0022\/author\/eva-wu\u0022 class=\u0022green-july-text\u0022 target=\u0022_blank\u0022\u003E\n                      Eva\u0026nbsp;Wu\n                    \u003C\/a\u003E\n                  \u003C\/h4\u003E\n                \u003C\/div\u003E\n                \u003Cdiv class=\u0022sidebar-sub-content 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