Lendo, a Riyadh, Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, raised SAR 105m ($28m) in Series B funding.
The round was led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (“PIF”), with participation from Shorooq Partners, AB Ventures and other investors.
The company will use the funds to support its customer base in Saudi Arabia, introduce more innovative financing products, and accelerate market expansion plans.
Led by Osama Alraee, CEO, and Mohamed Jawabri, COO, Lendo is a shariah-compliant, debt crowdfunding marketplace that helps pre-finance outstanding invoices for businesses in Saudi Arabia. The platform, a community of creditworthy borrowers and sphisticated investors looking for alternative investments, is licensed by the Saudi Central Bank (SAMA).
FinSMEs
13/12/2023