Emerging market fintech credit provider Lendable unveiled a plan to raise $100 million by the first half of 2022. The resources will be invested in small and medium-sized enterprises (SMEs) to support alternative energy projects and financial services in Africa and Asia.
The investor says it will provide credit to more than 150,000 African and Asian fintech startups. These companies will then on-lend the funds to SMEs working on alternative energy projects and those providing financial services such as payments and remittances, but have limited access to credit. “Through our fintech investments, we are providing essential working capital for MSMEs that enable off-grid customers to buy energy products and open the door to innovative digital banking services to consumers,” said Daniel Goldfarb (pictured), co-founder of Lendable.
The fund investor has been in positive momentum for several months. According to CEO Chris Wehbe, the company is experiencing steady growth this year, with new monthly disbursements of up to $15 million.
Adoni Conrad Quenum (intern)
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
Burkina Faso creates ABIPEX by merging investment and export agencies Reform aims to boost trade surplus and align economic policies Gold exports...
Cosumaf grants brokerage licenses to three firms, including Smart Capital Move aims to expand participation in Cemac regional financial market Smart...
Libya probes pipeline leak, finds Russian-made projectiles near site No confirmed link between munitions and fire, investigation ongoing Incident...
IFC considers €13 million loan to Mali’s Société Diarra Négoce Funds to build grain mill, storage, solar plant near Bamako Project targets rising...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...