EMIIF has made its first blended finance investment, a US$4 million first loss equity commitment in Lendable MSME Fintech Credit Fund. Lendable provides debt financing to fintech companies, with a mission to increase access to fair financial products and services for the 1.7 billion underbanked population around the world. EMIIF’s investment will leverage US$36m of co-investment, supporting up to 2,000 SMEs in Southeast Asia to access finance they need to drive sustainable growth and COVID-19 economic recovery.
Lendable is committed to improving gender equality through its investments. Its investees help women overcome traditional barriers to finance by providing financial products that are more accessible, cheaper and do not require collateral. EMIIF will also provide US$250,000 in technical assistance to support Lendable and its fintech investees to hone their impact and gender lens investment approach, demonstrating that gender equality is good for people and good for business.