Lendable LMFCFII (IFC-50192)

Regions
  • Africa
  • East Asia and Pacific
  • Europe and Central Asia
  • Latin America and Caribbean
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Africa, Asia, and Latin America
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 30, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Lendable Inc
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 45.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 27, 2025

Disclosed by Bank Apr 23, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed investment is an up to US$45.6 million senior unsecured loan to Lendable MSME Fintech Credit Fund II (LMFCF II or the Fund), a close-ended fund by Lendable Inc. The proceeds of the IFC investment will be used to finance Fintechs in Africa, Asia, and Latin America that primarily serve individuals, Micro, Small, and Medium Enterprises (MSMEs), including women-owned MSMEs (WMSMEs), and the broader digital business ecosystem. The Project may be supported by Women's Entrepreneur Finance Initiative (We-Fi) in the form of a US$4.4 million co-investment with interest and payment subordination to IFC. The Fund will be established for 7 years, including a 5-year investment period and a 2-year repayment period.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The proposed project consists of up to US$50 million loan to a 7-year structured fund designed to provide debt financing to early and mid-stage Financial Technology firms that primarily serve individuals, Micro, Small and Medium Enterprises (MSMEs), and the wider digital business ecosystem in emerging markets. The Fund will provide senior secured and unsecured loans to Financial Technology services companies (FinTechs) operating in the following segments: MSME Credit, Consumer Credit, Asset Lending, Embedded Finance, Embedded and Consumer Finance, and Payment Platforms.

The environmental and social (E&S) risks and impacts of the project are linked to the underlying MSME loans and are expected to be low to medium in nature; therefore, this investment has been classified as a category FI-2 project according to the IFC Sustainability Policy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC proposes to invest up to US$45.6 million in the catalytic debt tranche of LMFCF II, which will be on-lent to MSMEs and low-income households through Fintechs in Africa, Asia, and Latin America.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Lendable Inc. is an asset management firm established in 2014 and is focused on providing financing to FinTechs operating in emerging markets and developing economies (EMDEs), to enhance financial inclusion and create job opportunities. As of end of December 2024, Lendable has successfully invested US$576m through four funds spanning 18 countries across Africa, Asia, and Latin America. The firm has shown a strong performance record, with principal write-offs amounting to only 2.3% as of December 2024. As of the end of December 2024Lendable had US$356m in assets under management (AUM) and had achieved a 13.15% annualized net IRR since inception across its managed funds. The firm employs 43 professionals located in London, Nairobi, and Singapore and maintains origination teams in Johannesburg, Amsterdam, San Francisco, Madrid, and Buenos Aires.

Lendable's strength lies in combining traditional credit assessment with advanced data analytics, supported by its proprietary technology platform, Maestro. Maestro seamlessly integrates with FinTechs' management systems and bank accounts, facilitating underwriting and real-time monitoring of FinTechs' loans.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Lendable
Chris Wehbe
CEO
+44 7718 209 211
chris.wehbe@lendable.io
Suite 212-213 The Foundry 156 Blackfriars Road London, SE1 8EN United Kingdom
https://lendable.io/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works