Investment to Fuel Expansion and Strengthen Saudi Fintech Ecosystem
Lendo, Saudi Arabia’s leading debt crowdfunding platform, has secured a $690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. This landmark deal is set to accelerate SME financing, introduce new fintech solutions, and drive economic growth, aligning with Saudi Arabia’s Vision 2030.
Founded in 2019 by Osama Alraee and Mohamed Jawabri, Lendo provides short-term financing solutions for small and medium-sized enterprises (SMEs) by connecting them with investors. The newly secured capital will increase Lendo’s lending capacity, allow the company to roll out innovative financial products, and expand SME coverage across the Kingdom.
“This facility represents a transformative moment for Lendo and the Saudi fintech sector,” said Osama Alraee, CEO and Co-Founder of Lendo.
“J.P. Morgan’s confidence in our vision validates our commitment to revolutionizing SME financing. This capital infusion will empower more businesses, stimulate job creation, and support Saudi Arabia’s broader economic goals.”
Lendo is improving Saudi SME Growth & Economic Development
Saudi Arabia has identified SMEs as a key driver of economic diversification. Hence, it has a goal to increase SME lending from 4% (2018) to 20% by 2030. The financing facility will enable Lendo to:
- Expand lending operations, providing more businesses with fast and flexible financing
- Introduce new financial products, addressing diverse SME needs
- Enhance job creation, fostering economic stability
- Attract international investors, reinforcing Saudi Arabia’s fintech potential
George Deves, Co-Head of Northern European ABS at J.P. Morgan, emphasized the significance of the deal:
“We are pleased to support Lendo in its mission to strengthen SME financing in Saudi Arabia. A thriving SME sector is essential for economic growth, and this facility aligns with the Kingdom’s strategy to boost business access to capital.”
Growth & Market Impact for Lendo in Saudi
Since launching in 2019, Lendo has:
- Facilitated over $667 million in financing through 5,000+ transactions
- Generated $33.3 million in investor returns, proving its model’s effectiveness
- Secured $28 million in Series B funding (2023) from Sanabil Investments. Sanabil is a subsidiary of Saudi Arabia’s Public Investment Fund.
Supported by Fintech Saudi, this latest funding milestone signals growing confidence in Saudi Arabia’s fintech industry and regulatory landscape. It also reinforces Lendo’s commitment to financial innovation, economic growth, and SME empowerment.
As Lendo prepares for its next phase of expansion, this investment ensures it remains at the forefront of Saudi Arabia’s fintech revolution, helping SMEs thrive while advancing the Kingdom’s economic transformation goals.
About Lendo
Lendo is a leading debt crowdfunding platform in Saudi Arabia, offering short-term financing solutions for SMEs through an innovative peer-to-peer lending model. By connecting businesses with investors, Lendo provides fast, flexible, and accessible capital, driving growth and financial inclusion.
