Lendable MSME Fintech Credit Fund (LMFCF)



Lendable is a fintech which provides finance to alternative digital financial service providers in emerging and frontier markets. The platform leverages data science capabilities to finance the new generation of tech-enabled financial service providers who use digital technology to provide financial solutions to consumers, such as lending and remittances.

Investment Details


Lendable MSME Fintech Credit Fund (LMFCF)


Technology-driven private credit for alternative digital financial services in emerging and frontier markets


Digital Economy


Egypt, Ghana, Kenya, South Africa

In portfolio since


Our role

Committed capital:£3.66 M Instrument: 
  • Equity – £3.36 M
  • Grant of £0.3 M

Our investment

  • Our investment into the LMFCF catalytic tranche enabled Lendable to scale its existing digital lending product, thereby addressing a gap in debt finance to digital alternative financial service providers. This catalytic capital supported Lendable to raise finance into its capital stack from US DFC, Calvert Investment Management, Ceniarth, BIO, FMO, and the Emerging Markets Impact Investment Fund trust for a total raise of USD 45.75mn. The Fund is expected to close at USD 110mn against a target of USD 100mn.
  • Our grant supported the capacity development of LMFCF clients in client protection practices, cyber security capabilities, and managing foreign currency exposure.
  • Lendable will increase debt finance to alternative digital finance innovators providing solutions to drive Africa’s digital economy and inclusive green growth, while promoting responsible financing practices and strengthening the performance of digital financial services.
  • The company’s data driven credit risk tool is a digital innovation that will contribute to better management of risk and to reducing the cost of capital, thereby increasing flows of finance to emerging fintech companies and the individuals and MSMEs they serve.

“FSD Africa Investment’s innovative thinking and uncompromising focus on delivering to end beneficiaries marks it out as a development agency. By jointly developing a unique first loss instrument, we were able to 10x FSDAi’s investment towards African Fintechs. Moreover, as COVID hit, FSDAi worked with Lendable to disburse their commitment prior to our formal fund close, supporting recovery in the region. This was enormously catalytic.”

Chris Wehbe
Chief Executive Officer

Purpose and target market

Impact to date

52% Total funding deployed in Africa

$50.7m Amount Disbursed

99,703 Number of MSMEs with improved access to credit

16 Fintech companies benefitting from LMFCF specialising in MSME credit, payments, asset lending and consumer credit



Investee contacts

The Promenade, 3rd Floor,
General Mathenge Drive,
c/o Nairobi Garage,
Nairobi, Kenya


FSD Africa contact

Riverside Green Suites (Palm Suite),
Riverside Drive,
Nairobi, Kenya


Updated: September, 2023