LendMN, a Mongolia-based digital lending platform and subsidiary of AND Global, has secured a $20m debt investment in a funding round advised by Delphos.
The funding was provided by Lendable, a prominent provider of debt financing to technology-led companies across emerging markets. This investment marks a significant milestone for Mongolia’s FinTech sector, positioning LendMN as a key player in expanding access to credit for underserved populations.
LendMN has emerged as Mongolia’s first digital lending FinTech, focused on delivering AI-driven credit services to micro, small, and medium-sized enterprises (MSMEs). The firm’s flagship offering, the Flexi Business Loan, provides instant, collateral-free financing using automated credit scoring technology, making it easier for small business owners to secure capital.
The newly secured capital will be used to scale LendMN’s digital financial services, with an emphasis on supporting Mongolia’s underserved MSME sector.
Delphos president Andrew Brown said, “[This transaction is] a testament to Delphos’ expertise in facilitating impactful cross-border financings that drive financial inclusion. We are proud to support LendMN in its mission to expand access to credit for Mongolia’s underserved populations.”
LendMN CEO and board member Uuganbayar Tserendorj said, “We are delighted with this achievement as it denotes LendMN’s robust technology and successful business model, opening doors to future international investment opportunities.”
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