Saudi debt crowdfunding platform Lendo has entered into a strategic partnership valued at 187.5 million SAR ($50 million) with the Jadwa GCC Private Credit Fund, which is managed by Jadwa Investment. The agreement was officially announced during the Money20/20 Middle East conference in Riyadh.
This collaboration is set to significantly enhance Lendo’s capacity to provide financing to small and medium-sized enterprises (SMEs) across Saudi Arabia, expanding the funding options available to this vital sector.
Fueling SME Growth Under Vision 2030
The partnership directly supports the objectives of Saudi Vision 2030, which aims to increase the proportion of lending directed to the SME sector to 20% by the year 2030. By channeling significant capital through Lendo’s platform, the initiative will play a crucial role in empowering SMEs to grow and contribute more substantially to the national economy.
A Track Record Of Growth
This agreement marks another major milestone for Lendo. Earlier this year, the company announced a similar partnership with J.P. Morgan to finance SMEs. To date, Lendo has successfully financed over 3.5 billion SAR through more than 8,000 transactions on its platform. The company has also distributed returns exceeding 2.9 billion SAR to its investors, underscoring the strength and reliability of its model.
About Lendo
Lendo is a Shari’ah-compliant, peer-to-peer lending platform that helps pre-finance outstanding invoices for small and medium-sized businesses in Saudi Arabia. By connecting SMEs in need of funding with investors seeking alternative investment opportunities, Lendo aims to bridge the financing gap for businesses and offer attractive returns for investors.
Source: Jawlah
