The IDH Farmfit Fund signed an agreement to acquire a 21% ownership stake in fintech scale-up company LendXS BV. The investment begins off a unique collaboration between the IDH Farmfit Fund, IDH’s catalyzing smallholder finance facility, the Sustainable Trade Initiative, and LendXS, the Financial Access Group’s fin-tech start-up.
The IDH Farmfit Fund is a division of IDH that invests in businesses that catalyze smallholder finance on a long-term basis. The Dutch government, JDE Peet’s, FMO, Mondelez, and Unilever are all investors in the IDH Farmfit Fund.
LendXS BV is a fintech company based in the Netherlands that provides low-cost, high-impact digital process and risk solutions to financial institutions in developing economies. The startup was established by Financial Access Consulting Services BV (FACS) and has operations in Kenya, Ghana, Uganda, and Cote d’Ivoire.