FinDev Canada commits $15m to fintech credit fund
The Canadian DFI has announced a $15 million loan to the Lendable MSME Fintech Credit Fund II.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Canada’s bilateral development finance institution, FinDev Canada, has announced a $15 million loan to the Lendable MSME Fintech Credit Fund II (LMFCF II), a seven-year global-focused debt fund with a target size of $250 million. The fund operates in Latin America, Africa, and Southeast Asia, and has a focus on promoting financial inclusion and gender equality.
FinDev Canada’s contribution will enable LMFCF II to build a diversified portfolio of loans to fintechs supporting micro, small, and medium-sized enterprises (MSMEs), women-owned businesses, and digitally enabled, low-income consumer lenders. This will increase access to tailored financial products for underserved segments.
“FinDev Canada is proud to support Lendable in expanding critical financing for underserved communities and women. Every dollar we deploy in Latin America, Africa, and Asia reflects Canada’s commitment to economic resilience and prosperity. This partnership reinforces our shared focus on advancing financial inclusion and innovation across emerging markets, while promoting long-term impact for MSMEs, particularly women-owned enterprises,” said Lori Kerr, CEO of FinDev Canada.
“We are delighted to welcome FinDev Canada as a new partner in our journey. Their support underscores the shared belief that credit access and technology can expand economic opportunity and financial inclusion for those historically excluded. We look forward to working together to scale fintech innovation and deliver lasting, inclusive impact across emerging markets,” said Chris Wehbé, CEO of Lendable.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now