Sunday, June 15, 2025

Fintech Company Secures $20 Million to Enhance Tech-Driven Financial Inclusion for MSMEs in Mongolia

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Fintech Company Secures Million to Enhance Tech-Driven Financial Inclusion for MSMEs in Mongolia
LendMN, Mongolia’s first digital lending fintech and a subsidiary of AND Global, has secured $20 million in debt financing from Lendable, marking a significant milestone in the country’s fintech sector. This funding aims to enhance financial inclusion for micro, small, and medium-sized enterprises (MSMEs), especially those underbanked. Since its launch in 2017, LendMN has revolutionized access to financial services by providing mobile-based instant loans and recently introduced Mongolia’s first fully digital, collateral-free business loan. With nearly 90% of registered businesses in Mongolia being SMEs, the fintech’s innovative approach addresses critical credit constraints faced by many. LendMN’s CEO expressed optimism about future international investments, emphasizing the company’s mission to offer meaningful digital financial services to underserved populations.
Original source:
https://ffnews.com/newsarticle/fintech-lendmn-raises-20-million-usd-to-drive-tech-led-financial-inclusion-for-msmes-in-mongolia/

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