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Lendable to Launch USD 100 mln MSMEs fintech fund

Thursday 28 October 2021 12:47 CET | News

Kenya-based Lendable, an emerging market fintech credit provider, is targeting a USD 100 million closed-ended fund focused on emerging and frontier market fintech investments.

The Lendable MSME Fintech Credit Fund has soft closed a USD 49 million investment from DFC, EMIIF (DFAT), Calvert Impact Capital, Ceniarth, BIO, FMO and FSD Africa (FSDAi). Another USD 20 million is on track to close in the fourth quarter and the fund is expected to hard close above USd 100 million in 2022.

The vehicle is designed to ease access to financial services for MSMEs, providing investors with impact exposure to different markets and the potential of uncorrelated returns. Backed by impact and development financial institution (DFI) investors, the fund provides credit to African and Asian fintech companies, who in turn offer fair credit facilities to MSMEs.

This is a five-year blended finance closed-ended Luxembourg Reserved Alternative Investment Fund (RAIF), with FSDAi and EMIIF providing the first loss capital tranche. From its offices in Nairobi, London, and Singapore, and using its proprietary technology and data, Lendable directly originates, structures, underwrites, and monitors all transactions.

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Keywords: funding, SME lending, unbanked, financial inclusion
Categories: Banking & Fintech
Companies:
Countries: Kenya
This article is part of category

Banking & Fintech