Saudi fintech Raqamyah raises $2.3 million for its crowdlending platform
Published 15 Feb,2021 via MENAbytes - Riyadh-headquartered crowdlending platform Raqamyah has raised $2.3 million in an investment round led by Impact46, it announced in a statement to MENAbytes today. The round also included participation of Vision Ventures, Mad’a Investment, Al Yusr, Fadeed Investment, and some angel investors.
Founded by Ammar Bakheet who has over 20 years of experience in the financial sector, [Raqamyah](https://www.raqamyah.com/en/) enables SMEs to access financing (term, invoice, inventory and recently launched POS financing) up to SAR 5 million ($1.33 million) from individual and institutional lenders through its online platform.
The businesses looking for financing create their applications on the platform and receive an answer from Raqamyah’s team within 3 working days. If the application is approved, their business is listed on Raqamyah and financers start funding the requests.
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