Lendable
New York, New York, United States
Connect on Abaca
About
Lendable is the leading provider of debt to fintechs solving financial inclusion in Africa and Asia. Using our proprietary technology, we assess portfolio quality and disperse cash quickly. We operate across Sub Saharan Africa and South East Asia.
website
lendable.io
Email
Connect on Abaca to get email
sectors
financial services
sectors
financial services
sectors
financial services
How is your business helping to solve the health, social, or economic challenges created by COVID19?
The need: There are hundreds of fintechs solving financial inclusion challenges in emerging and frontier markets. Their customers depend on them to fund their businesses, to provide them income generating assets, and for liquidity when they have irregular or emergency bills to cover school fees or medical bills for those they love. Many of these fintechs have fundamentally sound business models and are solving real problems for MSMEs and individuals. The events around COVID-19 will imperil many of these companies. Some will go out of business because they entered the crisis with structural weaknesses, others might go out of business because they were in the wrong phase of a cash flow cycle. We believe there is an urgent need to solve the latter, and that this can be done in such a way that creates sound investment opportunities for investors seeking to create impact in response to the crisis, while also protecting principal and allowing for returns.The solution: Many of these fintech companies will need debt to help them with short term cash flow issues and then long term debt when the recovery starts. This crisis will have lasting effects that go well beyond a month or two. Lendable is raising $15-25m of additional emergency capital to provide senior-secured debt to quality companies that need debt capital in the next 6 months due to the market impact of COVID-19. We are raising this in the form of catalytic first loss and senior debt to our emergency facility.
Does your business contribute most to recovery, response, or resilience?
Recovery - we're positioned to support in the recovery of those directly affected.,Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market ready product/service. I have sold to customers.
What strengths does your team bring? Include skills and personal experience with the problem.
Lendable has an experienced team of finance and data science experts in our three offices: Nairobi, Singapore, and London. Our investment team of nine individuals comes from Goldman Sachs, OPIC, QInvest, Arrowgras and has all focused on emerging and frontier markets. We combine that with our team of technologists and data scientists that come from Lyft, Mesosphere, and Family Bank.Our team has been industry leaders and partner or managing director level across hedgefunds, venture capital firms, and investment banks working on providing capital in challenging environments.
What countries do you operate in?
We have offices in Kenya, the United Kingdom and Singapore. We invest across Africa and South East Asia.
Is your company headquartered in a US "Opportunity Zone"?
No

What is an opportunity zone?