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. The company is developing an app that will allow users to pay for goods with their smartphones. Lendable's platform offers services including deal origination, customisable online pricing models and post-deal reporting to alternative lenders. "Over the last year we have shown we can raise commercial capital for alternative lenders, deliver commercial returns to US investors, and help our alternative lending partners grow exponentially. The new funds will be used to expand into other markets including Rwanda 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. The company is developing an app that will allow users to pay for goods with their smartphones. 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.