Project detail - LENDABLE MSME FINTECH CREDIT FUND

LENDABLE MSME FINTECH CREDIT FUND

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Who is our client

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.

Funding objective

FMO is providing a 5-year mezzanine loan of USD 5 million to enable financial inclusion of the underserved MSMEs.

Why we fund this project

Lendable is targeting Fintech companies in Africa and Asia, a niche not served by traditional impact fund managers.

Environmental and social 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
Signing date
8/20/2021
Total FMO financing
USD 5.00 MLN
Fund
MASSIF
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