Lendable has already soft-closed $49 million of the target amount.

Lendable Inc, a fintech that provides credit to fintechs in emerging markets, announced Tuesday the launch of a $100 million closed-ended fund focused on emerging and frontier market fintech investments. The fund would provide credit to African and Asian fintech companies, who in turn offer fair credit facilities to over 150,000 Micro, Small, and Medium Enterprises (MSMEs). (CISION PRNewswire)

Soft close of $49 million

Lendable also announced it had soft-closed a $49 million investment from DFC, EMIIF (DFAT), Calvert Impact Capital, Ceniarth, BIO, FMO and FSD Africa (FSDAi).

The fund provides investors with high impact exposure, such as unlocking access to financial services for MSMEs, as well as high uncorrelated returns.

Since inception (October 2016) to 31 August 2021, Lendable has delivered an annualised net return of 14.32% to investors. Till date, and including the soft close, Lendable has committed $200 million in capital.

“Through our fintech investments, we are providing essential working capital for MSMEs that enables off-grid customers to buy energy products and opens the door to innovative digital banking services to consumers,” commented Daniel Goldfarb, co-Founder of Lendable. “It is about making a high impact difference.”

“Emerging market fintech investment has a direct and highly important impact on regional development,” said Marnix Monsfort, Director Financial Institutions, FMO. “Sadly, all too often, quality firms struggle to scale due to a lack of adequate, tailored capital.”

“FMO is excited to partner with Lendable as its proposition directly addresses this issue by bringing new capital to the table combined with their strong record of delivering competitive risk-adjusted returns for investors.”

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Image: Workmate, a Southeast Asian Workforce Management Platform and marketplace for informal workers, that raised a senior secured loan of up to USD 10 million from Lendable.