12 June 2026 · James Rudger, Jenifer Tiarry, Bridgit Lopes
Key findings
- Mid-sized businesses are the most underserved segment: too large for microfinance, too small or too young for most bank and capital-market products.
- Private credit funds and development finance institutions are filling part of the gap, but on terms that demand stronger reporting and governance.
- Currency risk is the single most under-priced factor in cross-border funding decisions.
- Businesses that prepare investor-grade reporting before they need capital raise faster and on better terms.
