London-headquartered trade finance provider Zvilo has expanded a debt facility from Fasanara Capital.
The facility now sits at €75mn, an increase of €25mn from an initial loan granted in 2022, and will be used to fuel Zvilo’s expansion across Africa, Turkey and the Middle East, the company says.
Zvilo chief executive Admir Imami tells GTR the funds will help the company expand its support for SMEs with a focus on sectors “critical” to regional growth such as fast-moving consumer goods, manufacturing, and essential commodities.
“With support from Fasanara, Zvilo has already funded businesses across 39 markets,” says Peter Maila, chief executive of Zvilo Africa. “This facility expansion allows us to build further in Africa and beyond, driving meaningful economic impact through scalable access to capital.
“Fasanara’s continued partnership is a strong endorsement of Zvilo’s strategic leadership and bold vision in building a global trade finance platform. It also reflects confidence in the scale and sophistication of Zvilo’s AI-driven technology, which is accelerating the efficient deployment of capital across the markets we serve.”
In March, founder Admir Imami left his post as investment director and head of trade finance at British International Investment to become Zvilo’s chief executive.
Fasanara Capital was founded in 2011 and based in London. It focuses on lending to fintechs, and has what it describes in the release as an “unorthodox portfolio construction and unconventional investment strategy”.
In 2021 it partnered with Incomlend to provide US$60mn in ESG-focused invoice financing for SMEs. The same year it provided US$50mn to SMEs in Singapore involved in sectors including transportation, waste management and manufacturing through peer-to-peer marketplace Validus.
