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funding gap emerging markets
South Africa

Remitto

  • Lulalend
  • Invest in a Financial Institution
  • + 191 other investors
  • With a loan of EUR 65,250 Remitto, a distributor of agricultural biostimulants, will be able to expand their company so they can help more communities with reducing food shortages.

    €65,250
    Amount
    4.25%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€65,250
    Interest4.25%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 26 April 2020.

      Summary

      Warning

      In the coming period there are different conditions for this partner. More information can be found here.

      • The interest rate has been temporarily increased by 0,5 percentage point to accommodate the growing uncertainty associated with COVID-19.
      • In addition, this investee is allowed - provided they continue to comply with the applicable covenants - to refinance future repayments to Lendahand investors with the funds raised from this project.
      • Repayments occur after 12 months, not after 6 months (grace period).

      Lulalend is a South African SME lender. The company is built on the belief in the power of small businesses and strives to empower businesses throughout South Africa. Lulalend's loans are characterised by speed, convenience, and easy application. This is achieved through the company's automated online platform.

      Information document issuing entity (NL)

      Information note issuing entity (BE)

      Trevor Gosling is the company's founder and has been its CEO since inception in 2014. Trevor is a chartered accountant with 7 years of experience in investment banking as well as 3 years experience in structured finance. Before starting Lulalend, Trevor found and succesfully exited an e-commerce venture.

      With a loan Lulalend will be able to provide working capital to Remitto.

      Remitto is a distributor of agricultural biostimulants. They also provide health and safety training to persons working with agricultural products. Their products add value to the production of food crops in water-scarce areas and therefore assists in alleviating food shortages in South African communities.

       

      Company nameRemitto
      CEODerek Alexander
      Founded2005-01-01
      LocationFree State
      SectorAgriculture
      Turnover€1,141,531
      Employees25

      Impact

      More than 40% of SMEs in Africa mention the lack of financing as the major factor limiting their growth. To help overcome this challenge, Lulalend offers access to funding to SMEs in South Africa by delivering working capital within 24 hours through their automated online platform.

      Easy access to working capital increases productivity and job creation, both necessary conditions to reduce poverty. A formal job creates impact on income and enables regularity of wages, allowing a family to plan for the future, save money, and improve access to credit, housing, and children’s education. It can lift unskilled workers out of poverty and allow skilled workers to enter the middle class. Therefore financing SMEs with growth potential is one of the key ingredients for inclusive growth.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      • With this investment 5 jobs are created
      • With this investment 100 lives are improved

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      We have already contributed to Remitto

      Jacques van den Bosch
      Joop Singeling
      Jan Eijgenraam
      Elke Krekels
      PHUYS Huys
      + and another
      191
      investors