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Mid East Info
31-01-2025
- Business
- Mid East Info
Lendo Secures $690 Million Facility Led by J.P. Morgan to Boost SME Financing in Saudi Arabia - Middle East Business News and Information
RIYADH — January 30, 2025 — Lendo, the leading debt crowdfunding platform in Saudi Arabia, has secured a USD 690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. Supported by Fintech Saudi, this milestone underscores the growth in Saudi Arabia's fintech sector and the vast opportunity in SME financing in the economy. The facility is expected to contribute to an increase in job creation in the Kingdom, demonstrating Lendo's commitment to domestic economic growth and employment. 'This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem,' said Osama Alraee, CEO and co-founder of Lendo. 'The strong backing from global financial institutions such as J.P. Morgan validates our innovative approach to SME financing and positions us to expand our impact in the Saudi market significantly. This facility will accelerate our mission of boosting SMEs growth while contributing to the Kingdom's Vision 2030 goals.' J.P. Morgan's facility will be strategically deployed to increase Lendo's lending capacity, introduce more innovative products, and expand Lendo's SME coverage in the Kingdom. The development aligns with Saudi Vision 2030's goal of increasing SME lending from 4% in 2018 to 20% by 2030. George Deves, Co-Head of Northern European ABS at J.P. Morgan said, 'We are pleased to collaborate with Lendo on this landmark transaction. A strong and fast-growing SME sector is vital for the local economy and this financing will help support the strategic initiative to boost SME lending in Saudi Arabia.' The facility also signals the growing confidence of international investors in Saudi Arabia's fintech sector and its regulatory framework. Lendo has successfully raised two investment rounds to date. The company's last USD 28 million Series B investment round was led by Sanabil Investments, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund (PIF). About Lendo Lendo is Saudi Arabia's first crowdlending marketplace licensed and regulated by the Saudi Central Bank (SAMA) to connect qualified businesses seeking financing with investors seeking short-term returns. Founded by Osama Alraee (CEO) and Mohamed Jawabri (COO) in 2019 after starting in SAMA's Regulatory Sandbox, Lendo has facilitated over SAR 2.5 billion (USD 667 million) in financing through more than 5,000 transactions, generating SAR 125 million (USD 33.3 million) in returns for investors. Backed by Sanabil Investments, Lendo provides secure, efficient, and Shariah-compliant financing solutions that support Saudi Arabia's growing SME sector, aligned with Vision 2030's economic diversification goals. For more information, visit or contact: marketing@
Arab News
30-01-2025
- Business
- Arab News
Saudi crowdfunding platform Lendo secures $690m warehouse facility led by J.P. Morgan
RIYADH: Lendo, a debt crowdfunding platform in Saudi Arabia, has secured a SR2.6 billion ($690 million) warehouse facility, with J.P. Morgan serving as the lead arranger. According to an official statement, the facility will support increased job creation within the Kingdom, underscoring Lendo's commitment to fostering domestic economic growth and employment opportunities. Endorsed by Fintech Saudi, this achievement highlights the rapid expansion of Saudi Arabia's fintech sector and signals the substantial potential for small and medium-sized enterprise financing within the economy, it added. The initiative also aligns with Saudi Vision 2030, which aims to raise SME lending from 4 percent in 2018 to 20 percent by 2030. 'This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem,' said Osama Alraee, CEO and co-founder of Lendo. 'The strong backing from global financial institutions such as J.P. Morgan validates our innovative approach to SME financing and positions us to significantly expand our impact in the Saudi market. This facility will accelerate our mission of driving SME growth while contributing to the Kingdom's Vision 2030 goals.' The statement said the facility will be strategically allocated to enhance Lendo's lending capacity, introduce innovative financial products, and broaden the company's coverage of SMEs across the Kingdom. George Deves, co-head of Northern European Asset-Backed Securities at J.P. Morgan, remarked: 'We are pleased to collaborate with Lendo on this landmark transaction. A robust and rapidly expanding SME sector is crucial to the local economy, and this financing will contribute to the strategic goal of boosting SME lending in Saudi Arabia.' Moreover, the deal underscores the growing confidence of international investors in the Kingdom's fintech sector, particularly in the strength of its regulatory framework. Lendo has successfully completed two rounds of investment to date, with its most recent Series B funding round, raising $28 million, led by Sanabil Investments, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund.
Zawya
30-01-2025
- Business
- Zawya
Lendo secures $690mln facility led by J.P. Morgan to boost SME financing in Saudi Arabia
RIYADH — Lendo, the leading debt crowdfunding platform in Saudi Arabia, has secured a USD 690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. Supported by Fintech Saudi, this milestone underscores the growth in Saudi Arabia's fintech sector and the vast opportunity in SME financing in the economy. The facility is expected to contribute to an increase in job creation in the Kingdom, demonstrating Lendo's commitment to domestic economic growth and employment. 'This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem," said Osama Alraee, CEO and co-founder of Lendo. "The strong backing from global financial institutions such as J.P. Morgan validates our innovative approach to SME financing and positions us to expand our impact in the Saudi market significantly. This facility will accelerate our mission of boosting SMEs growth while contributing to the Kingdom's Vision 2030 goals.' J.P. Morgan's facility will be strategically deployed to increase Lendo's lending capacity, introduce more innovative products, and expand Lendo's SME coverage in the Kingdom. The development aligns with Saudi Vision 2030's goal of increasing SME lending from 4% in 2018 to 20% by 2030. George Deves, Co-Head of Northern European ABS at J.P. Morgan said, 'We are pleased to collaborate with Lendo on this landmark transaction. A strong and fast-growing SME sector is vital for the local economy and this financing will help support the strategic initiative to boost SME lending in Saudi Arabia.' The facility also signals the growing confidence of international investors in Saudi Arabia's fintech sector and its regulatory framework. Lendo has successfully raised two investment rounds to date. The company's last USD 28 million Series B investment round was led by Sanabil Investments, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund (PIF). About Lendo Lendo is Saudi Arabia's first crowdlending marketplace licensed and regulated by the Saudi Central Bank (SAMA) to connect qualified businesses seeking financing with investors seeking short-term returns. Founded by Osama Alraee (CEO) and Mohamed Jawabri (COO) in 2019 after starting in SAMA's Regulatory Sandbox, Lendo has facilitated over SAR 2.5 billion (USD 667 million) in financing through more than 5,000 transactions, generating SAR 125 million (USD 33.3 million) in returns for investors. Backed by Sanabil Investments, Lendo provides secure, efficient, and Shariah-compliant financing solutions that support Saudi Arabia's growing SME sector, aligned with Vision 2030's economic diversification goals. For more information, visit or contact: marketing@
