Lulalend, the Cape Town-headquartered digital lender for small and medium-sized enterprises (SMEs), has secured $35m (R607m) in growth capital after finalising a series B funding round.

The funding, to be used to scale Lulalend’s business, was secured from global impact investor Lightrock with additional participation from German development finance institution DEG, Triodos Investment Management, Women’s World Banking Asset Management as well as existing investors The International Finance Corporation (IFC) and Quona Capital...

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