50192 - Lendable LMFCFII

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Investment Information

Project Number

50192

Company Name

Lendable Inc

Date SPI Disclosed

Apr 23, 2025

Country

World Region

Region

Global

Projected Board Date

Jun 30, 2025

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 31, 2025

Department

WBG Prosperity

Industry

Funds

Previous Events

Approved : Jun 12, 2025
Signed : Jun 20, 2025
Invested : Aug 29, 2025

Sector

Other Non-Private Equity Fund

Additional Project Attributes

Blended Finance

Project Description

The proposed project is an unsecured loan of up to US$50 million to the Lendable MSME FinTech Credit Fund II (LMFCF II or the Fund) of which IFC will invest US$40.6 million for its own account and US$9.4 million in its capacity as implementing partner of the Women’s Entrepreneurs Finance Initiative (“We-Fi”) and the Global SME Finance Facility (“GSMEF”) for on-lending to FinTechs in Africa, Asia, and Latin America that serve low-income individuals, MSMEs, and women-owned businesses (the Project). We-Fi and GSMEF will support the project through co-investments of up to US$4.4 million and US$5 million, respectively, with payment of interest and principal subordinated to IFC. Thirty percent of the Fund’s proceeds will support women-owned businesses (WMSMEs), and at least fifty percent of the total number of sub-loans from the FinTechs will be directed towards women borrowers. The Fund will be established for 7 years, including a 5-year investment period and a 2-year repayment period.

Associated Advisory Engagement

IFC will provide technical assistance to FinTechs supported by the Fund with less-developed infrastructure to integrate their loan management systems into Maestro. This initiative will improve operational efficiency, portfolio monitoring, and impact reporting.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	40.60
Equity

Development Impact

Project Outcome – Stakeholders, increased access to funding for Fintech, leading to increased access to finance for MSMEs The project aims to provide an alternative source of debt financing to MSMEs that are currently underserved by traditional financial institutions by providing loans to innovative fintech companies in EMDEs which will on-lend to MSMEs in EMDEs. Lendable’ s Maestro is an important tool for impact reporting on access to finance and job creation at the FinTech level. Contribution to Market Creation – Competitiveness The Project will demonstrate Lendable's unique business model, which combines greater transparency of its exposure (i.e., end-beneficiaries) with impact by leveraging a technologically driven data platform. The Project intends to demonstrate the business model and encourage replication.

Resource Mobilization: Lendable has historically attracted capital from DFIs such as USAID, FMO, and DFC. IFC’s participation in the mezzanine tranche of LMFCF II will instill confidence and facilitate the much-needed funding from private institutions, thereby providing essential funding for FinTechs in EMDEs. Although IFC is not an anchor investor, this project allows IFC to partner with Lendable, an experienced fund manager that is able to reach early-stage FinTechs with innovative business models that IFC is unable to provide debt to because of their early-stage nature and small portfolio size. IFC’s participation in the mezzanine tranche will attract more commercial players who may ordinarily not participate. The project will catalyze much-needed financial resources for MSMEs through FinTechs. Financing Structure: IFC will provide a 7-year US$50 million loan in the mezzanine tranche of a debt fund, an instrument not readily available to FinTech-focused debt funds in EMDEs. This financing will enable the Fund to on-lend medium-to-long-term loans of up to 5 years to FinTechs, addressing a critical market gap. The structure provides much-needed liquidity in a constrained market and offers longer tenors than those typically accessible to FinTechs. Knowledge, Innovation, and Capacity Building: IFC will provide technical assistance to FinTechs supported by the Fund with less developed infrastructure to integrate their loan management systems into Maestro. This initiative will improve operational efficiency, portfolio monitoring, and impact reporting.

Indicator	Metrics	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Number of Outstanding Loans, Microenterprises	loans	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Number of Outstanding Loans, SMEs	loans	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Number of Outstanding Loans, Women-owned microenterprises	loans	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Number of Outstanding Loans, WomenOwned Smes	loans	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Value of Outsanding Loans, Women-owned Microenterprises	USDMill	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Value of Outstanding Loans, Microenterprises	USDMill	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Value of Outstanding Loans, SMEs	$	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment
Value of Outstanding Loans, WomenOwned Smes	$	Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment

E&S Category Rationale / Risks and Mitigation

The proposed project consists of up to US$50 million loan to a 7-year structured fund designed to provide debt financing to early and mid-stage Financial Technology firms that primarily serve individuals, Micro, Small and Medium Enterprises (MSMEs), and the wider digital business ecosystem in emerging markets. The Fund will provide senior secured and unsecured loans to Financial Technology services companies (FinTechs) operating in the following segments: MSME Credit, Consumer Credit, Asset Lending, Embedded Finance, Embedded and Consumer Finance, and Payment Platforms.

The environmental and social (E&S) risks and impacts of the project are linked to the underlying MSME loans and are expected to be low to medium in nature; therefore, this investment has been classified as a category FI-2 project according to the IFC Sustainability Policy. The Fund Manager will not support coal-related or higher risk transactions that may include: (a) involuntary resettlement; (b) potential adverse impacts on Indigenous Peoples; (c) significant risks to or significant negative impacts on the environment, community health, and safety, biodiversity, cultural heritage; (d) risk or retrenchment or (e) significant occupational health and safety risks. IFC’s applicable E&S requirements for this project will be to comply with the Exclusion List, the host country laws and regulations, and the relevant IFC’s Performance Standards (where applicable).

The key E&S risks and impacts of this project derive from the Fund Manager’s capacity to identify and manage potential E&S risks associated with its investment activities, which in the case of this project are associated primarily with the MSME lending activities of the Financial technology firms. The Fund will be required to ensure its investee companies develop adequate ESMS, including policies, procedures, and capacity to manage E&S risks associated with their activities.

According to the nature of activities to be supported with this project, the Fund will be required to maintain and to continue implementation of its E&S policies and procedures, entailing: (i) screening of all potential investee companies against IFC’s Exclusion List; (ii) reviewing all investee companies against the E&S laws and regulations of the target country and the relevant PS, (iii) screening out companies exposed to higher E&S activities; (iv) cascading E&S requirements at the level of Financial Technology firms; (v) maintaining of an ESMS Officer; and (vi) providing E&S training to staff responsible for the implementation of the ESMS. The Fund Manager will be required to provide regular updates on its investment portfolio.

The Fund Manager has developed an ESMS in line with IFC’s requirements, implementation of which is supported by a number of tools: (i) Borrower E&S Due Diligence Questionnaire – used to guide the investment team as it completes its E&S due diligence; (ii) IFC Performance Standards Gap Analysis, including assessment of supply chain risk exposure; and (iii) ESAP Template, which is included in legal agreements with investee companies. Meeting relevant environmental, health and safety regulations as well as the relevant Performance Standards, is a part of the due diligence process for all Fund investments.

The Fund Manager also developed Responsible Investment Policy that specifically addresses incorporation of E&S principles, policies, and procedures into the Fund’s ongoing operations. The Fund Manager has appointed an ESMS Officer. The Environmental, Social and Governance (ESG) Policy is communicated to staff through trainings focusing on the Fund’s investment process. The Fund’s ESG Policy is available to all staff and is a part of the package of documents required during the investment process. IFC will review the first three E&S due diligence reports to confirm the capacity of the Fund Manager in implementing its ESMS and assessing the E&S risk of its investees. The Fund will also be required to provide Annual Environmental Performance Report to IFC and to maintain its External Communication mechanism.

Contacts

For Inquiries About the Project, Contact

Lendable
Chris Wehbe
CEO
+44 7718 209 211
chris.wehbe@lendable.io
Suite 212-213 The Foundry 156 Blackfriars Road London, SE1 8EN United Kingdom
https://lendable.io/

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Investment Information

Project Description

Associated Advisory Engagement

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation

Similar Projects

Contacts

Projects

Summary of Investment Information

Project Description

Associated Advisory Engagement

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

Blended Finance

IFC's Investment as Approved by the Board

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

Governance Risk Assessment

IFC's Role and Additionality

Development Results

E&S Category Rationale / Risks and Mitigation

Environmental & Social Categorization Rationale / Key Risks & Potential Impacts

Financial Intermediary Sub-Project Disclosure

Environmental & Social Management System (ESMS)

Mitigation Measures / Environmental & Social Action Plan (ESAP)

Press-Release

Related Environmental Document

Similar Projects

Contacts

Information on E&S Complaints and Grievance Mechanisms

Disclaimer