THE MIDDLE EAST’S

37. Lendo

Description: Shariah-compliant debt crowdfunding marketplace
Headquarters: Saudi Arabia
Date of Establishment: 2019
Founders: Mohamed Jawabri, Osama Alraee

Lendo helps pre-finance outstanding invoices for SMEs in Saudi Arabia. With over 70,000 registered investors, it has provided $321 million in financing to SMEs through more than 2,759 financing transactions since inception, generating over $37 million in returns for investors. In December 2023, the company secured $28 million in a Series B round led by Sanabil Investments, bringing its total funding to $35.2 million. Its app had been downloaded more than 50,000 times as of December 2023.