EMIIF invests US$4 million in Lendable MSME Fintech Credit Fund
Update from PFAN funder, the Australian Government: Their Emerging Markets Impact Investment Fund (EMIIF) has made its first blended finance investment: a US$4 million first loss equity commitment in a ‘fintech’ fund called Lendable MSME Fintech Credit Fund.
Lendable’s mission is to increase access to fair financial products and services for the 1.7 billion underbanked population around the world. This blended finance deal will channel around US$100 million of finance to support SMEs in Southeast Asia, helping to ease the severe shortage of SME finance in the region that has been exacerbated by COVID-19.
EMIIF will also support Lendable to hone its impact and gender lens investment approach, helping to demonstrate that gender equality is good for people and good for business. EMIIF is continuing to build its investment pipeline.