LMFCF provides debt finance to fintech companies across frontier and emerging markets to enable access and the creation of new financial products and services for un- and under-banked populations. LMFCF finances fintech companies that facilitate MSME credit, productive asset finance, consumer lending, payments, remittances, and digital marketplaces.
Through, Dutch Ministry of Foreign Affairs’ Micro and Small Enterprise Fund (“MASSIF”), FMO co-anchored with other partners the LMFCF which reached its final close in January 2023 with USD 110 million of investable capital, exceeding its USD 100 million target. LMFCF operates as a blended finance vehicle, effectively bringing together prominent investors such as aid agencies, DFI’s, and commercial institutional capital. During the final close, a significant European insurance company joined the existing group of international investors, which includes the U.S. International Development Finance Corporation (DFC), JICA, FMO, BIO, EMIIF, SIFEM, OeEB, USAID, and FSDAi.
Lendable is pursuing the 2X Challenge eligibility (Lendable’s board formally approved this commitment), aiming to increase women participation in different governance bodies of the company such as Board and IC. In addition, Lendable will also leverage on the data integration with its investees, setting clearly how and what data to collect on gender, implementing automatic reports on investee level with the help from their data scientists and tracking/monitoring the data over time and report it to the Fund LPs.
LMFCF has disbursed over USD 78 million, reaching a diverse range of productive sectors which comprise more than 80% of the portfolio. To-date, the fund has contributed to over 39,000 SME loans financed; 13,532 productive asset loans financed; 64,790 female borrowers financed; and 9,326, solar home systems financed, among others.
With the envisaged LMFCF II, the manager will need technical assistance or capacity building for (not exhaustive); Cyber Security; Gender and financial inclusion;
