Tech Company Financing Transactions
Lendo Funding Round
Lendo, operating out of Riyadh, secured $28 million from Sanabil Investments, AB Ventures and Shorooq Partners.
Transaction Overview
Company Name
Announced On
12/12/2023
Transaction Type
Venture Equity
Amount
$28,000,000
Round
Series B
Investors
Proceeds Purpose
Lendo will use the funds to support its fast-growing customer base in Saudi Arabia which has grown 3X year-on-year, introduce more innovative financing products, and accelerate market expansion plans.
Company Information
Company Status
Private & Independent
Industry
MarTech
Mailing Address
Al Olaya Tower B
Riyadh, 12213
SA
Riyadh, 12213
SA
Phone
Website
Email Address
Overview
At Lendo, we understand the financing challenges SMEs are facing. Our mission is to support you with tailor-made, flexible financial solutions that will help you grow and succeed. Lendo is a shariah-compliant, peer-to-peer (P2P) digital lending marketplace that helps pre-finance outstanding invoices for businesses in Saudi Arabia. Our finance platform is a community of creditworthy borrowers and sophisticated investors looking for alternative investments. Lendo's products and solutions make everyday business activities easier, more secure, and more efficient for both investors and borrowers alike.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chairman
Nabil Mobarak
Chief Executive Officer
Osama Alraee
Chief Operating Officer
Mohamed Jawabri
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