Lendo raises $7.2 million in Series A
Lendo raises $7.2 million in Series A Saudi Arabia-based Shari’ah compliant fintech startup Lendo, has raised a $7.2 million Series A funding round (SAR 27 million), led by Derayah Ventures, with participation from Seedra, Shorooq Partners, 500 Startups and Impact46. Co-founded in 2019 by Osama AlRaee (CEO) and Mohammad Jawabri (COO), Lendo enables SMEs to digitally pre-finance their outstanding invoices. The platform also offers SMEs a limited option to borrow cash quickly and short-term options to gain higher returns for investors/lenders. The company plans to use the fresh funds to dee...
Source: wamda.com