What we do: Lulalend (Pty) Ltd is an online lending company that offers flexible repayment structures for small companies in South Africa. The target market is small businesses that generate revenues of above R500,000 and have been in business for more than 1 year. Its approach leverages technology and a proprietary algorithm to evaluate applicants and provide funding quickly, conveniently and transparently. The company was founded in 2014.
Ownership & Management: Lulalend is privately owned by entrepreneurial founders who are Trevor Gosling and Neil Welman. Trevor Gosling (CEO) is a chartered accountant. His last e-commerce venture, 5ounces, was acquired by the Naspers group in 2013. He continued to work as the CEO after acquisition. He has worked in finance for 7 years as an investment banker internationally with Goldman Sachs and in structured finance for 3 of those years with Rand Merchant Bank.
Key financial indicators: Not provided. Lulalend operating performance is strong. Lulalend raised funding which was led by Accion Venture Lab, the early-stage investment vehicle of the financial inclusion leader Accion with participation from Newid Capital and Hallmann Holding International Investment GmbH.
Track record: Lulalend focuses on providing productive funding for small and medium enterprises (SMEs) throughout South Africa. Lulalend offers South African businesses an all-digital process that allows businesses to apply for and receive funding without visiting a physical branch, quick turnaround expedited through the use of new data sources that allow Lulalend to make decisions within minutes and provide funding within 24 hours, transparent pricing with no hidden fees or costs and the pricing structure is based on the total principal and Lulalend shows the repayment schedule as part of the acceptance process.
Contact details: Tel: (+27) 21 201 1550 Email: firstname.lastname@example.org Address: 1st floor, The Studios, 112 Buitengracht Street, Cape Town, South Africa Website: www.lulalend.co.za
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