Our Approach & Work
A problem is a chance for you to do your best. - Duke Ellington
We use innovative finance to rethink how capital can solve problems — aligning it with scalable, outcome-driven solutions that generate sustainable returns.
Our Approach
Innovative finance offers a range of models that can be applied across the impact ecosystem, from public institutions to NGOs to entrepreneurial ventures. Outcomes-based contracts, revenue-based finance, blended finance, and impact-linked finance are among the most commonly used structures.
At Alethina, our process begins with a thorough assessment of each client's goals, desired outcomes, and financial and other constraints. We then work in close collaboration with clients to map the most suitable innovative model to those needs, leveraging our expertise to tailor the structure to fit each unique context, and lead it to execution.
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Strategy & Origination
Structuring & Delivery
Implementation & Impact
We turn development challenges into investable opportunities through advisory and capacity building. This can include feasibility studies, stakeholder engagement, and capacity building workshops to lay the groundwork for successful projects.
We structure innovative finance solutions that align incentives and unlock capital for impact. This can include financial modeling, financial product design, investor outreach, and transaction execution, ensuring a smooth and efficient process from conception to close.
We support implementation and monitor outcomes to ensure lasting impact. This can include performance monitoring, reporting, and continuous improvement to maximize the project's success and demonstrate the effectiveness of our innovative finance approach.
Value in Impact Investing
Finance has three default settings: Equity, loans and grants. We work in the space between them.
Advisory Services for South Africa's Municipal Governments
Since 2022 we have been working alongside the World Bank team to support the Cities Support Programme (CSP), an initiative of the National Treasury of Rep. CSP works to strengthen city governance and intergovernmental collaboration to achieve spatial transformation and inclusive economic growth across South Africa's metropolitan municipalities. We have been supporting them on using impact investing & innovative finance structures to link projects with outcomes and bring in new capital for public investments.
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Türkiye's first outcomes based contract: İstanbul Kodluyor
Türkiye’s first social impact bond/outcomes based contract İstanbul Kodluyor was launched in August 2023. We worked with Etkiyap to structure and execute Türkiye’s first social impact bond as advisors to the outcome payer, Istanbul Development Agency (ISTKA). We advised ISTKA in the design and formation of the instrument, supported them in its negotiations with the bond’s sole investor Bridges Outcomes Partnerships.
Türkiye's first outcomes based contract: İstanbul Kodluyor
Türkiye’s first social impact bond/outcomes based contract İstanbul Kodluyor was launched in August 2023. We worked with alongside other partners to structure and execute it as advisors to the outcome payer, Istanbul Development Agency (ISTKA). We advised ISTKA in the design and formation of the instrument, supported them in its negotiations with the bond’s sole investor Bridges Outcomes Partnerships.
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Advisory Services for South Africa's Municipal Governments
Since 2022 we have been working alongside the World Bank to support the Cities Support Programme (CSP), an initiative of the National Treasury. CSP works to strengthen city governance and intergovernmental collaboration to achieve spatial transformation and inclusive economic growth across South Africa's metropolitan municipalities. We have been supporting them on using impact investing & innovative finance structures to link projects with outcomes and bring in new capital for public investments.
Durban Homelessness to Decent Jobs Outcomes-Based Contract
We initiated and supported the design and structuring of South Africa’s first municipal outcomes-based contract in City of eThekwini, targeting measurable outcomes in homelessness reduction, employment, and sustainable livelihoods. Working alongside the World Bank and National Treasury’s Cities Support Programme, we contributed to the outcomes framework, rate card design, financial structuring, engagement with investors and transaction preparation, enabling the City to mobilize private capital through an innovative impact investment mechanism linked to independently verified results.
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Redesigning Corporate Impact Strategy Kale Group & Embedding Innovative Financial Structures for Kale Culture and Arts Foundation (KSV), Türkiye
We supported Kale Group companies and KSV in assessing and advancing their impact strategy and investment approach across business and foundation activities. Through an impact-oriented value chain analysis covering Kalekim, Kaleseramik, and KSV, we identified opportunities to align social and environmental priorities with core business objectives, and developed a practical roadmap integrating innovative finance and impact investment models. This work enabled the Group to connect purpose with performance and to position its initiatives for scalable, measurable impact.
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Financing Climate Tech in Egypt with a Gender Lens Through Impact-Linked Finance
We supported the World Bank in designing impact-linked finance (ILF) and quasi-equity solutions to accelerate growth of climate tech companies in Egypt, focusing on access for women entrepreneurs. The work included market assessments, stakeholder mapping, and pipeline identification, alongside structuring results-based incentives with flexible instruments such as revenue-based and ILF. This aimed to de-risk investments, strengthen business models, and mobilize private capital toward scalable, gender-responsive climate solutions aligned with national priorities.
Selected Projects
Durban Homelessness to Decent Jobs Outcomes-Based Contract
We initiated and supported the design and structuring of South Africa’s first municipal outcomes-based contract (OBC) in eThekwini (Durban), targeting measurable outcomes in homelessness reduction, employment, and sustainable livelihoods. Working alongside the World Bank, National Treasury’s Cities Support Programme, and a social investor, we contributed to the outcomes framework, rate card design, financial structuring, and transaction preparation, enabling the City to mobilize private capital through an innovative impact investment mechanism linked to independently verified results.
Redesigning Corporate Impact Strategy & Embedding Innovative Financial Structures
We supported Kale Group companies and Kale Culture and Arts Foundation (KSV) in Türkiye, in assessing and advancing their impact strategy and investment approach across business and foundation activities. Through an impact-oriented value chain analysis covering Kalekim, Kaleseramik, and KSV, we identified opportunities to align social and environmental priorities with core business objectives, and developed a practical roadmap integrating innovative finance and impact investment models. This work enabled the Group to connect purpose with performance and to position its initiatives for scalable, measurable impact.
Financing Climate Tech in Egypt with a Gender Lens Through Impact-Linked Finance
We supported the World Bank in designing impact-linked finance (ILF) and quasi-equity solutions to accelerate growth of climate tech companies in Egypt, focusing on access for women entrepreneurs. The work included market assessments, stakeholder mapping, and pipeline identification, alongside structuring results-based incentives with flexible instruments such as revenue-based and quasi-equity financing. This aimed to de-risk investments, strengthen business models, and mobilize private capital toward scalable, gender-responsive climate solutions aligned with national priorities.
More of Our Work
For UNDP IICPSD, we supported advancing the SDG Investor Map for Iraq, developing a pipeline of investable opportunities aligned with national development priorities.
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As part of the SEECO Project, funded by EU, implemented by the World Bank & MoIT, we supported the integration of innovative finance and impact investment models into Türkiye’s social entrepreneurship ecosystem.
For WWF Türkiye, we explored how they can develop innovative finance approaches to mobilise capital for nature and climate solutions across their existing and future projects.
For Roots of Impact, with funding from the Swiss Agency for Development and Cooperation, we supported the assessment for the expansion of impact-linked finance in Latin America, with a focus on Colombia, Ecuador, and Peru.
