Lendo Achieves Milestone in Crowdfunding: Closes $28 Million Investment Round Led by Sanabil Investments
In a New Step for FinTech in Saudi Arabia, Lendo Closes $28 Million Series B Funding Led by Sanabil Investments”
In a significant move in financial technology in the Kingdom of Saudi Arabia, Lendo, an emerging and leading company in this field, it has announced the closure of its Series B funding round amounting to $28 million. This investment round, led by Sanabil Investments, reflects great confidence in Lendo’s potential and its growing impact in the market.
Founded to transform and develop the financial sector in the Kingdom, Lendo primarily focuses on debt financing for small and medium-sized enterprises (SMEs). The company offers a diverse range of financing products, initially concentrating on pre-invoicing finance.
Lendo’s notable achievement lies in being the first company in Saudi Arabia to receive a license from the Saudi Central Bank in the crowdfunding domain. This marks a significant and pivotal step in the company’s journey, opening wide horizons for innovation and growth in a previously underutilized field.
Lendo’s platform stands out by offering innovative financing solutions that efficiently and effectively meet the needs of small and medium-sized enterprises, contributing to the growth of these companies and enhancing the national economy.
