Delphos, a leading advisor for private emerging markets, has announced its role as the exclusive financial advisor for LendMN’s landmark $20 million USD debt financing. This deal is the first of its kind for a Mongolian fintech company, positioning LendMN and Mongolia as emerging players in global fintech innovation and investment.
The debt facility is provided by Lendable, a well-known debt finance provider for tech-enabled companies in emerging markets. Lendable’s focus is on promoting economic justice and sustainability worldwide. The new funds will allow LendMN to enhance its technology-driven financial solutions for Micro, Small, and Medium Enterprises (MSMEs) in Mongolia.
Andrew Brown, President of Delphos, remarked that this transaction demonstrates the company’s expertise in facilitating impactful cross-border financing. He added, “We are proud to support LendMN’s mission to expand access to credit for Mongolia’s underserved populations.”
LendMN, Mongolia’s first digital lending fintech and a subsidiary of AND Global, has already transformed the financial landscape with its fully digital Flexi Business Loan. Since its launch, it has disbursed $60 million USD in loans to over 3,800 micro and small business owners. The platform’s innovative approach, including automated credit scoring and instant, collateral-free loan disbursement, uses AI to close the financial gap for businesses traditionally overlooked by standard banks.
LendMN CEO Uuganbayar Tserendorj expressed optimism about the future, saying, “This achievement showcases LendMN’s robust technology and successful business model, opening doors for future international investment opportunities.”
With this major investment, Delphos continues to solidify its position as a leading advisor in development finance, having raised over $20 billion globally, benefiting more than 1,200 companies.
Related Topics:
UNDP Launches Study on Inclusive Insurance and Risk Finance in Thailand
