Canada’s bilateral Development Finance Institution, FinDev Canada, has announced a $15m loan to Lendable MSME Fintech Credit Fund II SCSp, SICAV-RAIF, a 7-year global-focused debt fund with a target size of $250m.

“FinDev Canada is proud to support Lendable in expanding critical financing for underserved communities and women. Every dollar we deploy in Latin America, Africa, and Asia reflects Canada’s commitment to economic resilience and prosperity. This partnership reinforces our shared focus on advancing financial inclusion and innovation across emerging markets, while promoting long-term impact for MSMEs, particularly women-owned enterprises,” said Lori Kerr, CEO, FinDev Canada.  

The Fund operates in Latin America, Africa, and Southeast Asia, and has a focus on promoting financial inclusion and gender equality.

FinDev Canada’s $15m contribution, which includes a $7m commitment from 2X Canada, a blended finance facility led by FinDev Canada and funded by the Government of Canada through Global Affairs Canada, will enable LMFCF II to build a diversified portfolio of loans to FinTechs supporting micro, small, and medium-sized enterprises (MSMEs), women-owned businesses, and digitally enabled, low-income consumer lenders.

This will increase access to tailored financial products for underserved segments.  

MSMEs are critical to driving economic growth in emerging markets, yet they often face challenges in accessing affordable credit.

LMFCF II aims to bridge this gap by leveraging data integration technology to monitor borrower activity in real time, enhancing credit risk assessment, improving portfolio monitoring, and enabling more efficient capital allocation.

The Fund will also support FinTechs by providing access to capacity-building tools, data expertise, and technical assistance offering, empowering MSMEs to create jobs and income-generating opportunities.

LMFCF II builds on the successful track record of its previous fund, which supported an estimated 85,000 jobs and created over 1,800 new positions, further demonstrating its meaningful impact.

LMFCF II is committed to promoting gender equality across its portfolio. This includes ensuring meaningful women’s representation across employment opportunities and leadership positions, and enabling FinTechs to improve gender practices by conducting gender assessments, setting 2X-aligned gender targets and providing support in achieving those.  

“We are delighted to welcome FinDev Canada as a new partner in our journey. Their support underscores the shared belief that credit access and technology can expand economic opportunity and financial inclusion for those historically excluded. We look forward to working together to scale FinTech innovation and deliver lasting, inclusive impact across emerging markets”, said Chris Wehbé, CEO, Lendable.