SF partner and fintech finance company Lendable has recently hit $30m in money disbursed to non-bank lending companies across frontier markets.
Lendable’s financing has supported the growth of SMEs and productive asset, consumer and PAYG solar finance companies across Kenya, Uganda, Nigeria and Ghana since 2016. Through these investments, Lendable has financed over 200,000 individual loans.
Lendable provides debt facilities to early-stage to mid-stage lending companies that create access to credit for un- and under-banked populations across Africa and southeast Asia. They finance based on proprietary data and analytics tools they have built that gives them market-leading understanding of portfolio risk for consumer and SME lenders. Their technology also gives them the ability to monitor the quality of the underlying portfolios on a daily basis. Together, these data analytics capacities allow Lendable to finance companies that traditionally lack access to the debt capital they need to scale their loan books.
$30m represents another milestone for Lendable, which began financing in 2016. They moved $2m in 2017, $8.8m in 2018 and nearly $20m in 2019 so far, demonstrating rapid growth in their financing to non-bank lenders. After raising two closed-end funds over the last year and a half, they are currently fundraising for the Frontier Credit Fund, a $100m facility that will continue to finance best-in-class high-growth, early to mid-stage lending companies across frontier and emerging markets.