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About Us

Built by Practitioners.

MicroEurope was founded by leading practitioners in financial inclusion and impact investing. Our team brings decades of experience in building, scaling, and investing in financial institutions around the world that generate measurable impact while ensuring financial sustainability.

Who Runs the Fund

Investment Team

Mikolaj Kowalczyk

Mikolaj Kowalczyk

Chief Executive Officer
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Senior finance executive with expertise in impact investing, strategic growth, and advanced financial and risk analysis. Mikolaj brings a strong track record of sustainable investment across Europe and Africa, and leading multinational teams through complex transitions. Previously served as CEO of a major loan fund for SMEs and social economy in Poland, where he oversaw the organization's impact investment activities and institutional partnerships, while strengthening internal risk and operating frameworks. He holds a Certificate in Business Excellence from Columbia Business School.

Fabio Malanchini

Fabio Malanchini

Chief Investment Officer
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Fabio is an entrepreneur, CEO, and board member with international experience across more than 50 countries in impact investing, financial inclusion, SME finance, and innovative financial instruments. Over the course of his career, he has founded and led several pioneering organizations in the impact finance ecosystem, spanning advisory services, research and technical assistance, international rating, and impact investment management. These include Microfinanza, MFR, Impact Finance, ImpactAge. Fabio holds a degree in Economics and Social Sciences from Bocconi University in Milan.

Pietro Scotto di Carlo

Pietro Scotto di Carlo

Investment Analyst
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Investment professional with experience in private equity and debt investments in financial institutions, microfinance organizations, and impact funds operating in emerging and developed markets. During his career, Pietro has been involved in corporate finance advisory activities across different industries and contributed to grow and manage the investment portfolio of the Swiss Investment Fund for Emerging Markets (SIFEM), the Development Finance Institution of the Swiss Confederation.

Governance

Board of Directors

Patricia Arias Otero

Patricia Arias Otero

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Patricia has built her career at the Santander Group, ultimately serving for ten years as Regional Director for the Basque Country. She currently is a Senior Advisor at Seed Capital, a member of the Governing Council of the University of Deusto and holds positions on several advisory boards, including the Deusto Social Lab.

Mikolaj Kowalczyk

Mikolaj Kowalczyk

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Mikolaj is a senior finance executive with expertise in impact investing, strategic growth, and financial and risk analysis. He has extensive experience leading sustainable investment initiatives across Europe and Africa and managing multinational teams.

Maria Doiciu

Maria Doiciu

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Senior expert in capacity building and technical assistance for financial institutions, as well as in policy advisory for the social economy. Maria has contributed to the design of innovative financial instruments, regulatory frameworks, and investment strategies across multiple countries.

Cyrille Langendorff

Cyrille Langendorff

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Cyrille Langendorff is Associate Director at Phitrust, with over 30 years of experience in banking, finance, and impact investing. He has held senior roles at Crédit Coopératif and chaired GSG Impact France. He contributes to several European initiatives and is a member of the French social impact association FAIR.

Giampietro Pizzo

Giampietro Pizzo

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Senior microfinance expert with longstanding experience in leading and coordinating technical assistance activities, structuring investment funds, and conducting evaluations and research projects for the microfinance sector globally. He has worked with a wide range of international organizations and multilateral institutions.

Svetlana Roganovic

Svetlana Roganovic

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Experienced risk manager, former CEO of Monte Credit, a leading microfinance institution in Montenegro, and former Board Member of the European Microfinance Network (EMN). Svetlana currently manages a microfinance portfolio exceeding €500 million across four continents at VisionFund International.

Paola Zanet

Paola Zanet

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Paola has over 20 years of experience in ethical finance. She is a member of the Executive Management Committee of Banca Popolare Etica and currently oversees international affairs and the bank's operations in Spain. She is a founding team member of Etica Sgr.

Strategic Advisors

Promoters

MicroEurope benefits from a seasoned group of sponsors and advisors who provide strategic insights, market intelligence, and deep sector expertise. They play a critical role in:

Maria Doiciu

Maria Doiciu

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Senior expert in capacity building and technical assistance for financial institutions, as well as in policy advisory for the social economy. Maria has contributed to the design of innovative financial instruments, regulatory frameworks, and investment strategies across multiple countries.

Elwin Groenevelt

Elwin Groenevelt

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Founder and former CEO of Qredits, one of Europe's leading microfinance institutions, operating in the Netherlands. Elwin has been Chairman of the European Microfinance Network (EMN) and has received high recognition from the Dutch State for his contributions to the development of the local microfinance sector.

Andrea Limone

Andrea Limone

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Founder and former CEO of PerMicro, Italy's first and leading microfinance institution, which has disbursed over €300 million in loans to more than 35,000 clients. Andrea is a former member of the Board of the European Microfinance Network (EMN) and of the Italian Microfinance Network (RITMI).

Fabio Malanchini

Fabio Malanchini

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Experienced entrepreneur, consultant, and investment professional. Fabio founded and led a microfinance impact fund and several social ventures across multiple countries, developing innovative financing instruments and social and environmental impact measurement tools tailored to SMEs.

Klaas Molenaar

Klaas Molenaar

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Experienced entrepreneur, consultant, international program director, researcher and policymaker, specialized in inclusive entrepreneurship and MSME financing. Klaas is Emeritus Professor in Financial Inclusion and New Entrepreneurship at The Hague University of Applied Sciences, and former Chairman of the European Microfinance Network (EMN).

Giampietro Pizzo

Giampietro Pizzo

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Senior microfinance expert with longstanding experience in leading and coordinating technical assistance activities, structuring investment funds, and conducting evaluations and research projects for the microfinance sector globally. He has worked with a wide range of international organizations and multilateral institutions.

Katia Raguzzoni

Katia Raguzzoni

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Senior expert in the design and management of international technical assistance programs, with a strong focus on microfinance and youth entrepreneurship. Katia brings deep expertise in developing theories of change and impact assessment methodologies within the field of financial inclusion.

Svetlana Roganovic

Svetlana Roganovic

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Experienced risk manager, former CEO of Monte Credit, a leading microfinance institution in Montenegro, and former Board Member of the European Microfinance Network (EMN). Svetlana currently manages a microfinance portfolio exceeding €500 million across four continents at VisionFund International.

Our Investors

Institutional Shareholders

MicroEurope is backed by three reputable anchor shareholders — Banca Etica, Phitrust and Seed Capital Bizkaia — alongside the European Investment Fund (EIF) as lender. Click the plus sign on each logo to learn more.

Major French Banking Group
Joining Q3 2026

Let's Talk Impact.

For inquiries, please reach out to our team.

Contact Us