LENDABLE MSME FINTECH CREDIT FUND
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
The client is FinTech Credit Fund I which was set up by an FMO existing client Lendable Inc, an asset manager providing funding to alternative lenders.
What is our funding objective?
FMO is providing a 5-year mezzanine loan of USD 5 million to enable financial inclusion of the underserved MSMEs.
Why do we fund this investment?
Lendable is targeting Fintech companies in Africa and Asia, a niche not served by traditional impact fund managers.
What is the Environmental and Social categorization rationale?
Lendable developed an E&S management system which will be applied at fund level and requires the investment team to incorporate and record E&S analysis throughout the entire investment process and aligns with FMO best practices incl. as a bare minimum complying with (i) the IFC exclusion list, (ii) local environmental, health & safety and labor laws and regulations, and (iii) IFC PS2 & ILO Core conventions.
- Region
- Africa
- Country
- Africa
- Sector
- Financial Institutions
- Effective date
- 8/20/2021
- Total FMO financing
- USD 5.00 MLN
- Funding
- MASSIF
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C