MicroPlace, founded in 2006, is a broker-dealer registered with the SEC and a member of FINRA (formerly NASD), MicroPlace is currently the only online introducing broker-dealer specializing in microfinance securities for retail investors.[citation needed] Started by Tracey Pettengill Turner, MicroPlace was bought out by eBay Inc. in 2006.
MicroPlace provides everyday investors with the ability to make investments in the microfinance industry that have the potential to earn interest. This contrasts with most other services for microlenders, which generally rely on a charitable model.[1]
History [edit]
MicroPlace was founded by Tracey Pettengill Turner and was bought by eBay for an undisclosed amount in 2006. Her hope is to expand the microfinancing industry from its current base of 100 million people to 1 billion people, with help from the middle class of affluent nations (the United States, European Union, etc.). Currently, Ashwini Narayanan has taken over as the general manager of MicroPlace.
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