Overview of the transaction
Lulalend, a leading South African digital lender, has announced its $35m Series B funding round led by Lightrock Africa, with investment from DEG, Triodos Investment Management and Women’s World Banking. Existing investors IFC and Quona Capital also participated in the round.
The funding will be used to accelerate the company’s growth as it continues to expand its suite of lending solutions for the South African SME market.
Overview of Lulalend
Founded in 2014 and based in South Africa, Lulalend helps small and medium sized enterprises manage their cash flow by providing a range of lending products as well as business and financial management tools. Since inception, the company has disbursed $200m+ in funding to underserved entrepreneurs.
The fundraise comes as Lulalend is preparing to launch “Lula” – a neobanking platform for businesses which will enable it to offer a complete financial management solution for South Africa's SMEs, in partnership with Access Bank. Lula aims to be the first banking platform in South Africa to offer a completely digital onboarding process for registered companies and will offer transactional accounts, payments, cards and cash flow management solutions. The platform's current waitlist counts c. 20,000 businesses
Royal Park Partner's Role
Royal Park Partners acted as exclusive financial and strategic advisor to Lulalend and its shareholders throughout the transaction • This transaction highlights Royal Park Partners’ extensive experience in the alternative lending space, as well as its expertise in supporting emerging markets businesses on their growth strategy
CEO and co-founder of Lulalend
"It was a pleasure working with Royal Park Partners as our trusted partners on this transaction. In a challenging fundraising environment, Aman and the team’s involvement throughout the entire process was integral in helping us navigate our funding journey. I would highly recommend Royal Park Partners to any Fintech CEO looking for a strategic partner to help them grow their business."
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