Swiss Investment Fund
for Emerging Markets

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Lendable Fintech Credit Fund I

Lendable Inc. is a leading debt finance provider to fintech companies in frontier and emerging markets which create access to new financial products and services for unbanked and under-banked MSMEs and consumers. From its offices in Nairobi, London, and Singapore, and using its proprietary technology and data, Lendable directly originates, structures, underwrites, and monitors all transactions. To date, Lendable has disbursed over USD 210 million to fintech companies in over ten countries and is now raising the Lendable MSME Fintech Credit Fund (LMFCF) with a target of USD 100 million. SIFEM supports LMFCF with USD 10 million – other private and public investors include the development finance institutions FMO (Netherlands), BIO (Belgium), and DFC (USA).

Lendable Fintech Credit Fund I

Lendable Inc. is a leading debt finance provider to fintech companies in frontier and emerging markets which create access to new financial products and services for unbanked and under-banked MSMEs and consumers. From its offices in Nairobi, London, and Singapore, and using its proprietary technology and data, Lendable directly originates, structures, underwrites, and monitors all transactions. To date, Lendable has disbursed over USD 210 million to fintech companies in over ten countries and is now raising the Lendable MSME Fintech Credit Fund (LMFCF) with a target of USD 100 million. SIFEM supports LMFCF with USD 10 million – other private and public investors include the development finance institutions FMO (Netherlands), BIO (Belgium), and DFC (USA).

About the fund

LMFCF is a closed-ended debt fund, dedicated to providing debt facilities to early and mid-stage fintech companies across Africa (50%) and Asia (50%). LMFCF will focus on fintech companies that supply credit, working capital, remittances, and payment solutions to MSMEs and, to a lesser extent, to consumers, filling a market gap left by traditional debt providers. It is expected that 95% of the Fund will be allocated to SIFEM eligible countries.

The COVID-19 pandemic and its ensuing economic uncertainty has negatively affected investments in the fintech sector. Access to funding has become more difficult for early to mid-stage fintech companies in frontier and emerging markets. SIFEM’s investment in LMFCF addresses this financing gap and can help drive financial innovation in this sector (SDG 9). By supporting the activities of fintech companies in Africa and in Asia, SIFEM’s investment is also expected to contribute to financial inclusion by promoting access to finance for MSMEs as well as for unbanked and underbanked populations (SDG 10).

Investments by the fund

             
Date Name Country Industry Status
2022 Company 1 Indonesia Non-banking microfinance Active
2021 Company 2 Indonesia Non-banking microfinance Active
2022 Company 3 Vietnam Other financial services Active
2021 Company 4 Kenya Other financial services Active
2022 Company 5 Egypt Other financial services Active
2020 Company 6 Indonesia Non-banking microfinance Active
2022 Company 7 Philippines Construction Active
2020 Company 8 South Africa Other financial services Active
2022 Company 9 Uganda Non-banking microfinance Active
2020 Company 10 Ghana Non-banking microfinance Active
2022 Company 11 Bangladesh Communications Active
2019 Company 12 Kenya Renewable energy equipment and services Active
2020 Company 13 Mauritius Other financial services Active
2020 Company 14 Egypt Communications Active
2021 Company 15 Philippines Other financial services Active
2022 Company 16 South Africa Other financial services Active
2020 Company 17 Kenya Non-banking microfinance Active
2021 Company 18 Thailand Communications Active
Reference code
2021-07
Status
Active
Date of commmitment
December 2021
Date of exit
-
Fund size
USD
100,000,000
SIFEM commitment
USD
10,000,000
Asset class
Private Debt
Investment strategy
Direct Investment
Fund manager
Lendable Inc.