THE MIDDLE EAST’S

42. Lamaa for Information Technology (Lamaa Tech)

Description: Financing solutions for SMEs
Headquarters: Saudi Arabia
Date of Establishment: 2021
Founder: Sumeet Khutale

Lamaa Tech streamlines payments, cash flow, loans, and supply chain financing for SMEs by partnering with banks and fintech firms such as BSF, alrajhi bank, and Rassanah Capital. In 2024, it processed $1 billion in invoice value, having served 1,500 active customers in Saudi Arabia. It launched a $100 million direct funding fund in partnership with Rassanah Capital to finance invoices through an early payment program. With $10 million already approved for disbursement, the remaining funds are set to be deployed by the second half of 2025. Lamaa is backed by Aramco’s entrepreneurship arm Wa’ed Ventures and Raed Ventures.