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Fintechs are steadily encroaching on traditional banking. A study that was done by McKinsey found that in 2022, 35% of SMEs in the US and 20% in Asia considered using fintechs for business funding, better pricing, and integration with their existing platforms.The same study found that emerging markets like SA are expected to play an outsized role in the growth of fintechs in the coming years.

Lula (formerly called Lulalend) is one of a crop of SA fintechs tackling a market neglected by the banks – business funding for SMEs.It takes just minutes to apply for up to R5 million in business funding in the form of a revolving capital facility or a capital advance. 🇿🇦 🇿🇦 🇿🇦