Shariah-compliant debt crowdfunding marketplace Lendo raises $28M Series B funding
Lendo, a Shariah-compliant debt crowdfunding marketplace based in Saudi Arabia, has raised $28 million (SAR 105 million) in a Series B funding round led by Sanabil Investments, a wholly-owned entity of the Public Investment Fund (PIF).
The funding round also witnessed participation from Shorooq Partners, AB Ventures, and other strategic investors.
Lendo operates as a community of creditworthy borrowers and sophisticated investors, facilitating the pre-financing of outstanding invoices for businesses in Saudi Arabia. The platform is licensed by the Saudi Central Bank (SAMA).
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