Lendable wins commitment for fintech credit fund from European LP

Image Credit: Picha

Launched as part of a $49 million soft-close last December, Lendable has won an additional commitment for the debt lender’s fintech credit fund. The LP joining the ranks of the fund’s current investors is SIFEM, the Swiss development finance institution, which is investing $10 million in the closed-end fund, helping it inch closer to its final close goal of $100 million.

The Lendable MSME Fintech Credit Fund will finance credit facilities for early and mid-stage fintech companies in Africa and Asia which in turn will use the financing to provide credit, working capital, remittances, and payment solutions to MSMEs and unbanked or underbanked customers. The economic fallout of the pandemic has made it more difficult for fintech’s in Africa and other frontier markets to access capital, providing the fund with an ample set of opportunities to support.

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