Lendable has reached a $255 million final close for Lendable MSME Fintech Credit Fund II (LMFCF II), its blended finance vehicle providing capital to financial services companies across emerging markets.
Investors include FinDev Canada; AXA XL, a division of insurance group AXA; and African bank Absa.
Alongside the fund’s final close, Lendable is finalising the set-up of a technical assistance (TA) facility of $1.6 million, funded by some of the LMFCF II investors. This TA facility is designed to complement the fund’s capital with hands-on support, strengthen the impact and sustainability of the businesses LMFCF II finances, and further strengthen Lendable’s internal processes to keep delivering on its mission.
Lendable has offices in London, Nairobi, Singapore, Buenos Aires and Johannesburg.
Chris Wehbé, CEO of Lendable, commented: “We set out to prove that high-impact asset classes could meet institutional standards without compromise. An investment-grade rated senior tranche and an oversubscribed final close are the clearest evidence yet that we’re getting there, and that investors are ready to back this strategy at scale.”
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