FMO commits $10m to fintech credit fund
DynoLabs-managed fund to provide credit to fintechs in Africa, Asia and Latin America.
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Dutch development finance institution FMO has disclosed an approved $10 million investment in the Lendable MSME Fintech Credit Fund 2 (LMFCF2), a new debt fund managed by DynoLabs Asset Management.
DynoLabs Asset Management is a wholly-owned subsidiary of Lendable Inc. which has been a long-standing partner of FMO. Lendable is an impact-focused asset manager that provides funding to fintech lenders in emerging markets. LMFCF2 is the successor to Lendable’s first fintech fund and will continue providing credit to fintechs operating across Africa and Asia, while also adding Latin America.
The fund will provide senior secured and unsecured loans to a diverse range of socially impactful fintechs such as MSME lenders, payment platforms, and asset-backed financiers that serve low-income and underserved populations.
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