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.
If “the essence of finance is time travel” (Matt Levine, Fed Day, Junk Bonds and Unicorns) then the essence of investing is using information available today to form reasonable expectations about the future. In the developing world that is hard, always has been, and always will be. Thanks to cheap mobile phones, productized CRMs and data services companies, we have never had more info to work with. We are entering an era of data abundance, and the availability of novel sources of information and massive computing power will radically transform investing… for those who know how to use that information.