LENDABLE INC.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Lendable Inc. is the first debt platform designed specifically for African alternative lenders – non-banking, asset backed finance providers operating in microfinance, and a range of Pay-as-you-go (PayGo) services including energy. Its platform combines capital from experienced international debt investors from North America and Europe. They include family offices, alternative investment fund managers, high net worth individuals, impact funds and banks. Lendable was founded in 2014 and currently provides structured finance facilities to seven fast-growing alternative lenders across African markets.
What is our funding objective?
FMO is extending a USD 450,000 convertible grant to Kenyan-based FinTech platform Lendable providing a ‘first loss’ backstop that is expected to unlock an additional funding from commercial investors. This will fund loans from Lendable’s alternative lender clients across Africa to small and micro enterprises and low-income consumer borrowers.
Why do we fund this investment?
FMO’s grant will contribute to financial inclusion in Africa by catalyzing innovative, technology-driven business models. Lendable’s ‘Maestro’ technology platform allows for direct data integration with alternative lenders, including loan portfolio data analysis and cash flow predictions. Maestro also provides high quality portfolio management information to alternative lenders and investors in Lendable’s SPVs. This is increasingly popular with investors who have traditionally struggled to get detailed price, risk and portfolio quality metrics from impact-focused lenders.
More investments
| Date | Total FMO financing |
|---|---|
| 11/19/2018 | EUR 0.03 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Effective date
- 8/22/2018
- End date
- 12/20/2022
- Total FMO financing
- USD 0.45 MLN
- Funding
- MASSIF