FMO provides a $450,000 grant to Lendable Kenya

FMO is providing a convertible grant to Kenyan-based fintech platform Lendable which will be ‘first loss” cover to commercial investors planning to invest $4.5 million in Lendable. The funding will be used to expand lending capabilities to small enterprises and low-income consumer borrowers. Lendable was founded in 2014 and currently provides structured finance facilities to 7 fast-growing alternative lenders across African markets including off-grid energy companies, small and medium-sized enterprise (SME) lenders and asset finance companies. The $450,000 convertible grant is being provided by the Dutch government’s MASSIF fund that is managed by FMO.

 

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