MicroPlace

Overview

MicroPlace was an American microfinance provider that enabled retail investors to invest in microfinance projects globally. Founded in 2006 by Tracey Pettengill Turner, the company was acquired by eBay the same year. MicroPlace allowed everyday investors to make investments in the microfinance industry with the potential to earn interest, typically between 1 and 3 percent. The company acted as a broker-dealer, registered with the SEC and a member of FINRA. Investors could choose specific lending clients and businesses to fund over designated periods, with minimum investment amounts varying by offer, typically starting at $100. The platform focused on providing capital to microfinance institutions in regions such as Africa, Eurasia, Latin America, and Southeast Asia, aiming to alleviate global poverty by empowering the working poor to lift themselves out of poverty. In January 2014, MicroPlace announced it would cease offering new investments, marking the end of its operations in the microfinance sector. The decision was part of eBay's strategic realignment, and the platform was discontinued, with its website and services no longer active.