New York and New York -based fintech Lendable has raised over US$5 million in series A funding in a round featuring KawiSafi Ventures , Fenway Summer Ventures , Omidyar Network and several Rwanda -based angel investors. Lendable aims to close the gap between institutional investors and alternative lenders in Africa to support the latter's expansion plans and extend access to credit. Lendable's platform offers services including deal origination, customisable online pricing models and post-deal reporting to alternative lenders. The new funds will be used to expand into other markets including New York and Tanzania and broaden its range of products.
Nairobi and New York-based fintech Lendable has raised $6.5m in series A funding in a round featuring KawiSafi Ventures, Fenway Summer Ventures, Omidyar Network and several US-based angel investors. Lendable aims to close the gap between institutional investors and alternative lenders in Africa to support the latter's expansion plans and extend access to credit. Lendable's platform offers services including deal origination, customisable online pricing models and post-deal reporting to alternative lenders. The new funds will be used to expand into other markets including Rwanda and Tanzania and broaden its range of products.