Lulalend launches banking product after USD 35M Series B


Share post:

Lulalend, a South African digital lender, has revealed that its Series B round of funding totalled USD 35 million.

International impact investor Lightrock led the round, which also included lead investors from its USD 6.5 million Series A round, the International Finance Corporation (IFC) and Quona Capital, as well as several new investors, including the German development finance institution DEG, Triodos Investment Management, and Women’s World Banking.

Based on credit metrics, Lulalend asserts that it can disburse money in hours as opposed to the weeks or months that traditional lenders typically take to do so. According to a statement from the company, it has distributed billions of rand to small businesses all over South Africa.

Read More: South African digital lender Lulalend to launch banking product off the back of $35M Series B

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

GOBankingRates Is Helping Americans Save More Ahead of National Savings Day

Many Americans strive to save more money but aren't actually taking the steps necessary to do so. GOBankingRates wants...

MassChallenge Announces Open Call for FinTech Startups to Apply for the 2024 FinTech Program

MassChallenge FinTech offers applications for its sixth FinTech accelerator program. It provides a comprehensive curriculum paired with personalized...

SEI Launches Enhancements to Advisor Technology Suite

SEI® today announced the launch of enhanced technology capabilities in its Investor Portal, a white-labeled solution within SEI Connect...

RiverStone International to Drive Investment Strategy with Clearwater Analytics

Clearwater Analytics , a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that...