Gojo & Company, Inc., a Japanese Impact Investor, Increases an Equity Stake at Credo Bank

Credo Bank is pleased to announce that its shareholder, Gojo & Company, Inc., a Japanese impact investor, has increased equity stake in the bank to 33.2%. 

This follows the acquisition of shares previously held by Triodos Microfinance Fund and Triodos Fair Share Fund, managed by Triodos Investment Management BV, which has exited after more than a decade of successful partnership.

The transaction reflects Gojo & Company, Inc.’s growing confidence in Credo Bank as well as its strong belief in the resilience, stability and potential of Georgia’s financial sector. As one of the bank’s key institutional investors, Gojo & Company, Inc. further reinforces the bank’s strategic focus on delivering affordable, innovative, and inclusive financial services to micro, small and medium-sized entrepreneurs across the country.

"The additional equity investment from Gojo will further support Credo Bank's mission to provide sustainable financial services to MSMEs, with a focus on digitalization and innovative product delivery. We also extend our sincere gratitude to Triodos Investment Management for their unwavering support - particularly during critical moments such as the COVID pandemic when their commitment and flexibility helped us continue serving our clients without interruption. Their partnership was instrumental to our growth and we look forward to building on this foundation as we enter the next phase," said Zaza Pirtskhelava, Chief Executive Officer of Credo.

Arnaud Ventura, Managing Partner at Gojo & Company, Inc., said: "We are honored to build upon Triodos’ legacy and continue Credo’s journey under our stewardship. This strategic acquisition reflects our confidence in Credo’s team and their commitment to financial inclusion in Georgia. We look forward to collaborating closely with the Credo team to further expand its impact."

Caspar Sprokel, Head of Private Equity at Triodos Investment Management, said: "Throughout our decade-long journey with Credo, we have witnessed their unwavering commitment to providing a comprehensive range of financial services to underserved communities in Georgia. It has been an exciting journey, as Credo transformed from a credit-only institution into a fully-fledged bank. We believe this is the right time for us to step back, and we are confident that Gojo will bring valuable expertise to further enhance the sustainable growth and development of Credo."

About JSC Credo Bank

Credo is the fifth-largest commercial bank in Georgia. With its wide regional outreach through 94 service centers, it offers fully-fledged and innovative banking services to over 500,000 customers as of June 2025. The bank’s mission is to support Georgia’s micro, small and medium sized entrepreneurs, and their employees to create a better future by offering affordable financial services.

About Triodos Investment Management BV

For over 30 years, Triodos Investment Management has been connecting investors who want to put their money towards lasting, positive change with innovative entrepreneurs and sustainable companies that are doing just that. In this way, Triodos Investment Management acts as a catalyst in those sectors that play a key role in the transition to a fairer, more sustainable and more humane world. Triodos Investment Management’s investment activities focus on five interconnected transition themes: food, resource, energy, societal and wellbeing. Its mission as a financial player is to enable and accelerate these essential transitions. Triodos Investment Management operates globally as an impact investor and is a wholly owned subsidiary of Triodos Bank NV. Assets under management per end of 2024: EUR 5.8 billion.

About Gojo & Company, Inc.

Gojo & Company, Inc. is a Tokyo-based holding company of inclusive financial service providers operating in 14 countries in South & Southeast Asia, Central Asia & the Caucasus, and Africa. Gojo was founded in 2014 to extend financial inclusion across the globe. Gojo Group, including major investees, is serving 3.4 million clients across the globe as of March 2025. Gojo has been a Certified B Corporation™ since January 2025, committed to the continuous improvement of its social and environmental performance.