Series A Financing

SME Funding Provider LulaLend Raises Series A Financing Of $6.5 Million

SME Funding Provider LulaLend Raises Series A Financing Of $6.5 Million

Lulalend, South Africa’s first online automated provider of short-term funding for small and medium enterprises (SMEs), announced its Series A financing of $6.5 million. The round was co-led by IFC and Quona Capital, a leading fintech firm whose funds are sponsored by Accion, with participation from existing investors Accion Venture Lab and Newid Capital. After the announcement, Heavy Chef spoke to Johan Bosini of Quona Capital: “We feel that this is an important investment for the South African ecosystem.