Nairobi, Kenya - “The thing we have in common here is this crazy belief that we can do what banks with a hundred times the amount of money have not been able to figure out how to do and change the way that credit works to consumers and SMEs in sub-saharan Africa,” - Daniel Goldfarb
April 26, 2017- The rural roll-out of scalable solar power in Kenya is set to accelerate with the announcement today of an innovative USD550k financing arrangement. Finance platform Lendable has secured USD550K debt financing for Raj Ushanga House (RUH), the Kenya distributor for Azuri Technologies Ltd, a leading provider of Pay-as-you-go (PayGo) solar energy solutions.
Nairobi, Kenya - Today Lendable announced that it has completed its first receivable financing transaction, creating a new high-yield, high-impact asset class. This deal’s unique data-driven approach to structuring is the first-ever for receivable financing in emerging economies.
Data analytics and machine learning have always been at the very core of what Lendable does—from developing our proprietary Risk Engine to building software to support our standard receivable financing structure. Up until this point, however, Lendable has focused on building tools to help investors and originators transact. While our Risk Engine is capable of much more, we hadn’t built the interfaces for users to leverage it. Now, to provide more value to our originator customers, we’re launching Lendable Labs.