FinTech: Lendable Launches $100M Fintech Fund For MSMEs In Emerging And Frontier Countries

October 13, 2021 | FinTech, News
https://dailyalts.com/wp-content/uploads/2021/10/1_NwB6R83FIyoxp2dSCXA0MA.jpeg

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.”

Related Story: Stilt, The Loan Provider To Immigrants, Raises $100M Debt

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.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/10/btc-g2b55ec6dc_640.jpg
Digital Assets: Crypto Exchange FTX Rakes In $420M At $25B Valuation
October 22, 2021     Digital Assets, Latest News, Venture Capital

29-year old billionaire founder and CEO Sam Bankman-Fried is a majority owner of FTX. Just three months after closing a record $900 million Series B round, FTX, the Bahamas-headquartered crypto…

https://dailyalts.com/wp-content/uploads/2021/10/1024px-North_Dakota_Flaring_of_Gas.jpg
Digital Assets: Russian Energy Firms Seek Go-Ahead To Use Flared Gas For Mining Crypto
October 22, 2021     Digital Assets, ESG and Sustainability, News

Russia’s crypto mining industry is in expansion mode after China’s clampdown on its crypto miners. Also wanting to join the party are Russian oil and gas companies that flare, or…

https://dailyalts.com/wp-content/uploads/2021/10/archive-g1a80093d6_640.jpg
Artificial Intelligence: Rossum, The Document AI Company, Raises $100M
October 22, 2021     Artificial Intelligence, News, Venture Capital

Rossum offers an end-to-end AI document processing solution that combines its cognitive data capture platform with a full suite of integration capabilities to automate document-based communications between diverse businesses. The…

https://dailyalts.com/wp-content/uploads/2021/10/equal-gd63ae6939_640.png
Alternative Investments/ESG: New York Life Floats ETFs For Gender Equality, Clean Oceans, Cleaner Transport

The three thematic ETFs meet investor demand for ESG approaches. IndexIQ, the New York Life Investments company, announced Wednesday the launch of three new ETFs. The IQ Engender Equality ETF…