Lulalend: Scores $35 million Series B
- Lulalend, the South Africa-based digital lender catering to underserved small and medium-sized enterprises (SMEs)
- Finalized a transformational $35 million (R600 million) Series B funding round
- It will use the capital to scale its business and address South Africa’s enduring SME credit gap
- The $35 million (R600 million) Series B funding round was led by Lightrock, the global impact investor
- The Company’s digital-first approach, paired with its proprietary credit scoring algorithm, has enabled it to offer a faster, simpler
- The capital raised will enable to increase the size of its loan book, bring new solutions to market, and invest in the technology
