Lendo Secures $690mln Facility led by J.P. Morgan for SME Boost
Deal News | Jan 30, 2025 | Zawya
Lendo, a prominent debt crowdfunding platform in Saudi Arabia, has secured a $690 million warehouse facility, with J.P. Morgan leading the initiative. This development is expected to bolster Saudi Arabia's SME financing landscape and contribute to job creation, aligning with the nation's Vision 2030 objectives. Lendo's innovative approach, validated by global financial institutions like J.P. Morgan, indicates a strategic push towards increasing SME lending. This facility will enhance Lendo’s lending capacity and expand its SME offerings. The collaboration underscores growing international trust in Saudi Arabia’s regulatory framework and supports the fintech sector's growth trajectory. Previous investment rounds by Lendo include a $28 million Series B led by Sanabil Investments, a Public Investment Fund subsidiary.
Sectors
- Fintech
- SME Financing
- Investment Banking
Geography
- Saudi Arabia – The article discusses Lendo's operations and the SME sector's growth within Saudi Arabia, aligned with Vision 2030 objectives.
Industry
- Fintech – The article is centered around Lendo and its debt crowdfunding platform, highlighting the growth of the fintech sector in Saudi Arabia.
- SME Financing – Lendo's core business is providing financing to SMEs in Saudi Arabia, which is emphasized throughout the article as a strategic national priority.
- Investment Banking – J.P. Morgan's involvement in leading a $690 million facility for Lendo underscores the investment banking sector's role.
Financials
- 690 million USD – The total facility secured by Lendo led by J.P. Morgan.
- 28 million USD – Amount raised in Lendo’s Series B investment round led by Sanabil Investments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lendo | Target | Company | Lendo is a leading debt crowdfunding platform in Saudi Arabia, focused on SME financing. |
| J.P. Morgan | Bidding Company | Company | A global financial services firm leading the $690 million facility for Lendo. |
| Fintech Saudi | Supporter | Government | An initiative supporting the fintech sector's growth in Saudi Arabia. |
| Sanabil Investments | Investor | Company | A subsidiary of Saudi Arabia's Public Investment Fund and led the Series B investment in Lendo. |
| Osama Alraee | CEO | Person | CEO and co-founder of Lendo, instrumental in steering its growth. |
| Mohamed Jawabri | COO | Person | COO and co-founder of Lendo. |
| Saudi Central Bank (SAMA) | Regulator | Government | The regulatory body for financial institutions in Saudi Arabia, including Lendo. |