LendMN, Mongolia’s first digital lending fintech and subsidiary of AND Global, has secured $20 million in debt financing from London-based investment platform Lendable.
Founded in 2016, LendMN focuses on providing loans to micro, small, and medium-sized enterprises (MSMEs) across Mongolia. Since launching in 2017, the company has amassed over 1.3 million registered app users and disbursed more than $70 million in loans to over 3,800 businesses.
A joint stock company listed on the Mongolian Stock Exchange (MSE), LendMN aims to modernise traditional financial services in the country through automated credit scoring, instant disbursements, and AI-powered income verification.
This latest financing marks the largest-ever raise for a Mongolian fintech, LendMN says, and will help support the company's mission to "drive tech-led financial inclusion" for underserved MSMEs.
CEO and board member Uuganbayar Tserendorj notes that the deal could also pave the way for “potential future international investment opportunities".
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Cameron Emanuel-Burns is a reporter at FinTech Futures and is dedicated to enhancing the accessibility of fintech for a broader audience.

Published Date:2025-04-30