Lula has secured R340-million in local currency funding from Dutch entrepreneurial development bank, FMO.
This investment will help expand access to finance for micro, small and medium enterprises across the country. The funding follows a period of robust growth for Lula – a South African SME funding platform.
Lula said in a statement on Tuesday that it closed a US$35-million series-B round led by Lightrock, which included participation from the International Finance Corp (IFC), Quona Capital, DEG and Triodos Investment Management in 2023. And late last year, it boosted its lending capacity through a $10-million local-currency loan from the IFC.
It said the latest investment will significantly increase on-lending to SMEs that remain underserved by traditional banks due to limited collateral, thin credit histories or cash-flow volatility.
“It strengthens Lula’s ability to deliver fast, flexible working capital through its technology-driven lending platform, helping businesses manage day-to-day operations and unlock growth opportunities,” said Trevor Gosling, co-founder and CEO of Lula.
Read: Digital lender Lulalend secures R600-million in huge series-B round
“Receiving this capital in local currency is a critical enabler. It eliminates the volatility of exchange rate fluctuations, allowing us to provide stable, predictable and sustainable lending rates to our customers.” – © 2026 NewsCentral Media
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