Lendo, Saudi Arabia’s leading debt crowdfunding platform, has secured a warehouse facility led by J.P. Morgan valued at $690 million (SAR 2.6 billion). This landmark deal highlights the growing confidence of global investors in Saudi Arabia’s fintech sector and its regulatory framework, reinforcing the kingdom’s ambition to become a regional fintech hub.
J.P. Morgan Boosting Lending Capacity and Job Creation
With the support of Fintech Saudi, this facility will allow Lendo to:
- Increase its lending capacity to better serve SMEs across the Kingdom
- Introduce innovative financial products tailored for small businesses
- Expand its market reach, enabling greater financial inclusion
- Drive job creation, contributing to Saudi Arabia’s broader economic growth
Osama Alraee, CEO and Co-Founder of Lendo emphasized the transformative impact of this investment:
“This landmark facility represents a pivotal moment for Lendo and the Saudi fintech ecosystem. The strong backing from global financial institutions like J.P. Morgan validates our innovative approach to SME financing and positions us to expand our impact significantly in the Saudi market.”
J.P. Morgan’s Commitment to Saudi’s SME Sector
George Deves, Co-Head of Northern European ABS at J.P. Morgan, underscored the strategic importance of the investment:
“A strong and fast-growing SME sector is vital for economic growth, and this financing will help support Saudi Arabia’s strategic initiative to boost SME lending.”
Saudi Arabia’s Fintech Sector Gains Global Recognition
This investment further strengthens Saudi Arabia’s fintech sector, which has been rapidly expanding under the kingdom’s Vision 2030 strategy. Lendo’s success follows its previous $28 million Series B funding round, led by Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF).
With international investor confidence rising, Saudi Arabia is poised to become a leading financial hub, supporting SME growth and economic diversification.