Lula

Based in Cape Town, South Africa, and founded in 2014, Lula Lend (Pty) Ltd. operates as a provider of an online lending platform for small and medium enterprises. The company was founded by Trevor Gosling and Neil Welman. Gosling also founded an e-commerce venture, 5ounces, which was acquired by the Naspers group in 2013.

Welman has worked in the Investment Banking industry in London for over 10 years. In February 2026, Lula raise ZAR 340 million in venture funding from FMO. The company offers an online platform where SMEs (Small and Mid-size Enterprises) can apply for loans. An SME can apply online by providing recent bank statements and linking their banking account or may call the company’s customer service, then the platform will process the application using scoring technology which will evaluate the performance of the SME’s business that becomes the basis for the funding.

Once the application is approved, the SME may choose their desired payment schedule. The company generates its revenue by providing lending services to SMEs with a monthly cost of 2% to 6% of the amount borrowed. The company will use the February 2026 funding to expand lending to small businesses, grow its AI credit scoring tools, and scale sales and operations in South Africa.