Balkans-based working capital lender Zvilo has secured an increased debt facility of up to €75m (£64.9m) from longstanding partner Fasanara Capital, as it eyes expansion in Africa, Turkey and the Middle East.

The expanded facility builds on an initial commitment from the private credit fund manager in October 2022, which Zvilo used to scale its regional presence and support clients across more than 39 markets.

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Zvilo was established to offer working capital to underserved micro, small and medium enterprises (MSMEs) and corporates in emerging markets.

It will use the additional funding to meet growing demand and accelerate its strategic expansion, particularly across Africa, Turkey and the broader Middle East. 

It will use the full €75m facility to expand its portfolio, enhance regional hubs, and support a “growing base” of MSME clients with data-driven trade finance solutions.

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“This facility expansion allows us to build further in Africa and beyond, driving meaningful economic impact through scalable access to capital,” said Peter Maila, chief executive of Zvilo Africa.

Maila added that Fasanara’s continued partnership demonstrated “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”.

Fasanara provides institutional investors with access to high-conviction, capacity-constrained asset-based credit strategies that back credit platforms globally.

“Zvilo’s use of technology, disciplined underwriting, and regional expertise align well with our vision for next-generation credit. We are proud to continue supporting their growth and impact,” Francesco Filia, Fasanara’s chief executive, added.

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