Saudi Fintech Lendo Raises $28M Series B Led by PIF's Sanabil Investments
Saudi Shariah-compliant debt-crowdfunding marketplace Lendo has raised about $28 million in a Series B anchored by PIF's Sanabil Investments. Shorooq Partners and AB Ventures also participated. Lendo helps pre-finance outstanding invoices for SMEs and is licensed by the Saudi
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Lendo runs a Shariah-compliant debt-crowdfunding marketplace that pre-finances outstanding invoices for businesses in Saudi Arabia and is licensed by SAMA. The roughly $28 million Series B was anchored by PIF-owned Sanabil Investments, with Shorooq Partners and AB Ventures. The company said its customer base grew threefold and it had provided over $300 million in SME financing since 2019, as it gears up for an IPO.