Lendable has completed the final close of its second fund, Lendable MSME Fintech Credit Fund II at $255 million, surpassing its initial target. The blended-finance debt vehicle provides debt investments to high-growth financial technology companies across emerging markets. The vehicle expands upon the thesis established by its predecessor, the Lendable MSME Fintech Credit Fund I (LMFCF I), which achieved a final close of $110 million to deploy asset-backed capital to non-bank financial institutions and fintechs across Latin America, Africa, and Asia.
The fund mobilizes risk-bearing private commercial capital alongside institutional and development finance allocations. LMFCF II features an investment-grade rated senior tranche which was upgraded following the initial performance and credit deployment of the underlying portfolio.
Capital commitments at final close reflect expanded participation across institutional profiles, marked by the entry of Absa as Lendable’s first African bank investor in the fund. AXA XL, the property, casualty, and specialty risk division of AXA, joined via first-close investor FinDev Canada. These institutions join a US-based, publicly owned financial institution that backed the vehicle at first close, bringing the count of large private commercial investors to three.
Alongside the close of the second fund, Lendable is finalizing a $1.6 million Technical Assistance (TA) facility funded by select LMFCF II investors. The facility is designed to complement the fund’s capital with hands-on support, strengthen the impact and sustainability the fund finances, and strengthen Lendable’s internal processes.
LMFCF II provides asset-backed capital to next-generation financial services companies. The strategy leverages Lendable’s technology and data to expand financial access for underserved populations, backing high-impact, technology-enabled businesses to drive inclusive and sustainable growth across emerging markets.
“We set out to prove that high-impact asset classes could meet institutional standards without compromise. An investment-grade rated senior tranche and an oversubscribed final close are the clearest evidence yet that we’re getting there, and that investors are ready to back this strategy at scale.”
Chris Wehbé, Lendable CEO