ImpactAlpha, September 21 — Singapore’s Finclusion Group offers credit and financial services through a variety of consumer brands in Africa. It has deployed more than $310 million in loans to 240,000 employees and employers, small businesses and other customers.
A debt investment of $20 million from Lendable will help the company expand in eastern and southern Africa. Lendable provides debt financing for fintechs that help mostly low-income and largely women borrowers increase their incomes or reduce their costs (see, “How Lendable parses risks and returns to mobilize capital for inclusive fintech in emerging markets”).
Egypt’s Kashat provides small loans for unbanked and under-banked Egyptians via its mobile fintech platform. The company raised nearly $1.8 million in bridge financing from Launch Africa and Cairo Angels.