Lulalend

The proposed project is a US$2.8 million equity investment into Lulalend, an online uncollateralized MSME lending platform based in Cape Town, South Africa. Lulalend leverages technology to provide loans to banked but underserved businesses in South Africa. Lulalend’s customers are MSMEs with annual turnover ranges of $36K-3.5MM, from the retail, services, manufacturing, logistics and construction sectors. IFC’s investment will help increase access to finance for micro and small and medium enterprises (“MSMEs”) in South Africa.