LendMN NBFI

What LendMN NBFI does

LendMN NBFI JSC is a Mongolia-based non-bank financial institution operating as the country's first fully digital lender, providing collateral-free consumer and micro/small enterprise (MSME) loans through its LendMN mobile application available on iOS and Android. The platform uses AI-driven credit scoring integrated with Mongolia's national identification system (DAN) to deliver credit decisions within 5-10 minutes, eliminating traditional branch visits and collateral documentation. The product portfolio comprises a consumer loan (Хэрэглээний зээл), the FlexiBusiness collateral-free business credit line for MSMEs (launched 2024), LendDy — a 0% interest, 0% fee BNPL product for purchases above 1,000₮, and Lend Plus, a digital trust and savings service with customizable beneficiary designation.

The company generates revenue primarily through net interest income on its loan book, which generated approximately 98.4 billion MNT in operating income and ~40 billion MNT in net profit in 2025 (versus 36.1 billion MNT in 2024). Total assets reached approximately 340 billion MNT in 2025, up ~35% YoY. LendMN distributes exclusively through self-serve digital channels — primarily its mobile application — and monetizes each product line via interest spreads, with flexible repeat-borrowing mechanics and a bonus-point loyalty program that increases credit limits for on-time repayment.

LendMN is a subsidiary of AND Global (the holding company consolidating AND Systems LLC and LendMN NBFI), which itself received $15.3M USD in Series A funding from Marubeni Corporation and SBI Holdings at a ~$58M USD valuation in 2016. In April 2025, LendMN secured a $20M USD senior secured debt facility from Lendable — the largest fintech debt round in Mongolian history and the first major foreign investment in a Mongolian fintech — to scale MSME lending. The company has cumulatively disbursed over $70M USD across 3,800+ Mongolian businesses and 51-100 employees operate from its Ulaanbaatar headquarters. LendMN is licensed and regulated by the Financial Regulatory Commission of Mongolia.

Name

LendMN NBFI

Legal name

LendMN NBFI JSC

Website

https://lend.mn

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

LendMN NBFI is Mongolia's first fully digital, AI-powered non-bank lender providing collateral-free consumer loans, MSME credit lines (FlexiBusiness), BNPL (LendDy), and digital trust services (Lend Plus) via its mobile app, serving Mongolian consumers and micro/small enterprises.

Ownership category

akta.pro rank

Product category

Consumer Digital Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

akta.pro secondary industries

Pricing, Risk-Based Offer & Limit Management (FSAGAHAE), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

Keywords

• Consumer micro-lending
• Collateral-free business loans
• Digital lending platform
• Buy now pay later
• Mobile lending app

Headquarters

HQ city

Ulaanbaatar

HQ country

Mongolia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income on Loans: Core revenue from interest charged on consumer loans, business loans (FlexiBusiness), and purchase loans. The company reported total interest and similar income of 135,403,423 thousand tugrik (approximately 135.4 billion MNT) in 2025, up from 89,190,036 thousand in 2024.
2. Trust/Investment Services (Lend Plus): Revenue from managing the Lend Plus trust service, including trust agreement fees and investment management services. Trust service obligations reported at 67,288,775 thousand tugrik in 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels8 records

Core offering

LendMN NBFI is a non-bank financial institution in Mongolia that provides fully digital, collateral-free loans to individual consumers and micro/small enterprises through its mobile application. The product portfolio includes a consumer loan (Хэрэглээний зээл), FlexiBusiness collateral-free business loans for MSEs, LendDy buy-now-pay-later purchase financing, and Lend Plus digital trust/investment services, with credit decisions rendered in 5–10 minutes via AI-powered scoring.

Product overview

LendMN NBFI is Mongolia's first fintech company, operating as a non-bank financial institution that provides AI-powered digital lending and investment services. The product portfolio consists of three core loan products (Consumer Loan, Purchase Loan/LendDy, and Business Loan/FlexiBusiness) alongside LendPlus, a trust and savings service. The platform operates fully digitally through its mobile application, enabling users to access credit, make purchases on installment, manage business loans, and invest through a single app. The company launched FlexiBusiness in 2024 as Mongolia's first fully digital collateral-free business loan, marking its expansion into the MSME lending segment.

Differentiator

Problem solved

Functional benefit

Brands

• FlexiBusiness: Collateral-free, fully digital business loan product launched in 2024 as Mongolia's first digital collateral-free business loan.
• Lend Plus
• LendDy

Products and services

• Consumer Loan (Хэрэглээний зээл) A digital personal loan product allowing Mongolian residents to borrow any time via the LendMN mobile app with flexible interest based on usage period, multiple repeat borrowings within an approved credit limit, and bonus points that increase credit eligibility for on-time repayment. Eligibility requires 6+ months of regular income and a clean credit history.
• FlexiBusiness (Business Loan) Mongolia's first fully digital collateral-free business loan, targeting micro and small enterprises (MSEs). It features personalized credit lines, high borrowing limits, monthly repayment flexibility, and a 100% digital application-to-disbursement flow with no physical collateral required.
• LendDy (Buy Now Pay Later) A buy-now-pay-later product providing 0% interest and 0% fee installment financing for purchases above 1,000₮, enabling users to repay at their chosen schedule through the LendMN app.
• Lend Plus (Trust/Investment Service) A digital trust and investment service that lets users create trust agreements, customize fund naming and beneficiary designations, link cards for automatic deposits, and earn competitive returns with flexible term options on savings held within the LendMN platform.

Quantifiable outcome

• $70 million USD disbursed in loans to micro and small enterprises
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Branch International: US-headquartered digital lender operating in emerging markets (Kenya, Nigeria, India, Mexico) offering instant unsecured loans via mobile app to underbanked customers. Directly comparable business model and target segment to LendMN.
• Kaspi.kz: Kazakhstan's leading super-app fintech combining payments, marketplace, and consumer/MSME lending. Highly comparable as a Central Asian digital lender that owns the consumer credit relationship through mobile-first distribution — a model LendMN is replicating in Mongolia.
• Kredivo: Indonesia-based digital credit and BNPL provider serving underbanked consumers with instant credit decisions on a mobile app. Directly comparable to LendMN's consumer loan and BNPL stack, with the same target customer profile.
• Atome: Singapore-headquartered BNPL provider operating across Southeast Asia. Comparable to LendDy product, with merchant and consumer installment financing in emerging Asian markets.
• Tala: Mobile-first digital lender serving underbanked consumers in Mexico, the Philippines, Kenya, and India using alternative credit scoring on smartphone data. Closely comparable to LendMN's AI-driven, collateral-free, mobile-only credit decisioning model.
• Akulaku: Southeast Asian digital consumer finance and BNPL platform operating across Indonesia, Philippines, and Vietnam. Comparable as a mobile-first lender targeting underbanked consumers in emerging Asian markets with similar product structure (consumer loans + BNPL).
• Etomo Financing Corporation: Philippine consumer finance NBFI operated by the same AND Global parent. Operates a near-identical digital lending model to LendMN and represents the playbook already being exported to Southeast Asia.

Broad incumbents

• Grab Financial Group: Southeast Asia super-app with embedded lending, BNPL, and insurance within GrabPay/GrabFin. Comparable as a mobile-first emerging-market lender that cross-sells credit alongside payments and merchant services, mirroring LendMN's super-app trajectory.
• Klarna: Global BNPL and consumer credit incumbent. Comparable product overlap (BNPL, installments), though Klarna operates primarily in developed Western markets rather than the underbanked emerging-market consumer that LendMN targets.
• Home Credit: Large consumer finance provider across CEE and Asia offering point-of-sale financing, cash loans, and increasingly mobile digital lending. Comparable as a non-bank lender operating in emerging/frontier markets where bank penetration is shallow, similar to Mongolia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCYt38oEVZTQDmuYFwNFYZ6Q/videos
• Facebookfacebook.com/LendMN
• LinkedInlinkedin.com/company/lendmn
• Instagraminstagram.com/lend_mn
• Xx.com/LendMN

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LendMN NBFI