Lendo, a debt crowdfunding platform in Saudi Arabia, has secured a US$690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan.
This deal highlights the growth of the country’s fintech sector and the opportunities in SME financing.
The facility is expected to contribute to job creation in the Kingdom, supporting Lendo’s commitment to domestic economic growth.
Osama Alraee, CEO and co-founder of Lendo, stated,
“This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem. 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 SME growth while contributing to the Kingdom’s Vision 2030 goals.”
J.P. Morgan’s facility will help increase Lendo’s lending capacity, introduce new products, and expand its SME coverage in the Kingdom.
The deal also signals rising international confidence in Saudi Arabia’s fintech sector and regulatory framework.
Lendo has previously raised two investment rounds, including a USD 28 million Series B round led by Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF).
