#13 Empowering Choice: How Aloi Redefines Financing for Nepal’s Micro-Entrepreneurs

Let's dive into the Insight, Inspiration & Impact behind Aloi with Tiffany Tong

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• WSA Winning Year: 2022

• Award: The World Summit Award

• Category: Business & Commerce

• Founders: Tiffany Tong, Sonika Manandhar

• Country: Singapore

• On WSA website:https://wsa-global.org/winner/aloi/

In a world where financial systems often overlook the smallest players, Tiffany Tong, co-founder of Aloi, is forging a path to change that. Her story, shared on the Edge of Impact podcast, is one of curiosity, resilience, and a deep commitment to empowering grassroots entrepreneurs. Through Aloi, Tiffany and her co-founder Sonika Manandhar are building a bridge between opportunity and those who need it most, particularly in emerging markets like Nepal. Their journey is a testament to how personal experiences, combined with a clear vision, can spark meaningful change.

A Seed Planted in Uganda

Tiffany’s journey with Aloi began not in a boardroom, but in the fields of Uganda, where she worked early in her career on a farmer’s market linkage project. The initiative aimed to connect smallholder farmers with a large agricultural company through a contract farming model. The company acted as a guarantor for loans to provide farmers with seeds and fertilizers, enabling them to boost production and sell crops back to the company. Tiffany was brought in as a coordinator, but the project unraveled, becoming one of the worst loan default cases in the bank’s history.

Reflecting on this failure, Tiffany spent eight years processing what went wrong. “The farmers thought it was an aid project,” she explains. “They assumed the inputs were handouts.” The lack of clear communication, coupled with rigid systems that didn’t account for farmers’ individual needs, led to mistrust and misuse. Some farm leaders, entrusted with distributing inputs, even sold them at reduced prices, further muddying the waters. This experience planted a seed in Tiffany’s mind: financial systems needed to empower entrepreneurs with choice and transparency while maintaining accountability.

From Reflection to Action

Tiffany’s path to founding Aloi wasn’t immediate. After Uganda, she worked with NGOs, governments, and the World Bank, gaining a broader perspective on development and informal economies. But the lessons from Uganda lingered. “This problem kept coming back,” she says. It wasn’t until she joined a program in the U.S. focused on technology and global challenges that the pieces fell into place. There, she met Sonika Manandhar, a Nepali tech entrepreneur with a shared passion for impact. Together, they envisioned Aloi—a platform that could address the gaps Tiffany had seen firsthand.

Aloi’s mission is clear: to provide flexible, transparent financing for micro-entrepreneurs in emerging markets, particularly in green sectors like agriculture and electric vehicles. The platform operates like a corporate credit card, ensuring loans are spent on approved vendors while giving borrowers the freedom to choose what best suits their needs. “We’re bridging the mistrust between lenders and borrowers,” Tiffany explains. By using digital tokens, Aloi ensures funds go directly to vendors, preventing misuse while empowering entrepreneurs to make decisions tailored to their businesses.

Values at the Core

At the heart of Aloi’s work is a commitment to inclusion and empowerment. Tiffany and Sonika designed their technology to be accessible, even to those with limited literacy or resources. In Nepal, where many rural entrepreneurs lack smartphones or reliable internet, Aloi operates on an SMS-based interface. “We chose this to serve the customers who are not being served,” Tiffany says. This decision reflects their belief that technology should meet people where they are, not exclude them.

Aloi also values local networks, working with farmer cooperatives and savings groups to build trust and streamline onboarding. Unlike many digital solutions that bypass intermediaries, Aloi sees these community structures as vital. “They provide essential services,” Tiffany notes. “We’re building technology that integrates them, not excludes them.”

Another core value is gender equity. In Nepal, where women face cultural and economic barriers, Aloi’s impact is particularly striking. Tiffany shares the story of a woman who started as a driver of an electric minibus—a sector pioneered by women in Nepal 30 years ago. Through Aloi, she secured a loan to buy another vehicle, enabling her to bring her husband back from working abroad. “Now they both drive, earning a good living,” Tiffany says, her voice warm with pride. This story underscores Aloi’s commitment to creating opportunities that strengthen families and communities.

Impact in Action

Since its inception, Aloi has facilitated nearly $800,000 in loans, reaching over 2,000 users. Their focus on green sectors, like coffee, dairy, and electric vehicles, aligns with their vision of building a sustainable economy. In Nepal’s capital, they’re piloting a project to provide loans for 100 electric scooters, targeting women entering the gig economy. With guaranteed jobs from delivery companies, these women can earn around $220 a month—double what many currently make.

Tiffany’s favorite stories highlight the human impact of Aloi’s work. In a rural village, an older woman beamed when she saw Aloi’s SMS interface on a simple feature phone like hers. “That’s my phone,” she said, thrilled to access a system that didn’t require a smartphone or costly data. Moments like these affirm Aloi’s mission to make finance inclusive and approachable.

Looking Ahead

Aloi’s journey is just beginning. Next year, they plan to pilot their own loan products, starting with scooters, with the long-term goal of becoming a digital bank focused on last-mile green lending. While Nepal is their home base, their technology is designed to be licensed globally, offering solutions to similar challenges in other emerging markets.

Yet, challenges remain. Nepal’s traditional financial sector is risk-averse, often failing to extend capital to grassroots entrepreneurs. Tiffany recounts a frustrating example: a bank mandated to lend to women micro-entrepreneurs instead offered loans to wealthy women to deposit in higher-interest accounts, bypassing those who needed the funds most. Aloi aims to disrupt this by providing real-time data and transparency, making it easier for lenders to trust smaller borrowers.

Another hurdle is talent retention. Nepal’s rapid migration means many skilled workers leave for opportunities abroad. Tiffany’s “magic wand” wish is to inspire young people to stay and build their country’s future, showing them the possibilities within Nepal’s growing economy.

A Vision for Change

Tiffany’s story is one of inspiration leading to insight, and insight driving impact. From the fields of Uganda to the bustling streets of Kathmandu, her journey reflects a deep belief in the potential of grassroots entrepreneurs. Aloi isn’t just about loans; it’s about giving people the tools to shape their own futures. By combining technology with trust, flexibility, and inclusion, Tiffany and Sonika are proving that smallholder farmers, women drivers, and micro-entrepreneurs can be the backbone of a greener, more equitable economy.

As Tiffany puts it, “If we’re truly going to be inclusive, the financing must change.” With Aloi, she’s not just imagining that change, she’s making it happen, one loan, one story, one empowered entrepreneur at a time.

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