South African Digital Lender Lulalend To Launch Banking Product Off The Back Of $35M Series B

Feb 01, 2023•over 2 years ago

Amount Raised

$35 Million

Round Type

series b

Cape TownLendingFintechFinanceFinancial Services

Investors

Quona CapitalThe International Finance CorporationWomen’s World BankingTriodos Investment ManagementDegLightrock

Description

In most African countries, access to credit remains limited for many small businesses, with the reasons ranging from the inability to pay collateral and lack of credit history to unfavorable lending criteria and high-interest rates.

Company Information

Company

Lulalend

Location

Cape Town, Western Cape, South Africa

About

Lulalend is a FinTech company with a belief in the power of small business, making a difference, building a better solution, and striving for excellence. We work hard to empower businesses across South Africa with the funds they need to grow. Lulalend offers small business funding of up to R5 000 000 to businesses that have been in operation for at least 1 year and are seeing a monthly turnover of R40 000. Our online application process is fast, easy, convenient and safe. Apply via our website, get a decision and get access to funding - fast! Visit our website for more information: www.lulalend.co.za

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

South African Digital Lender Lulalend To Launch Banking Product Off The Back Of $35M Series B

Investors

Description

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