Lendo, a leading debt crowdfunding platform in Saudi Arabia, has secured a $690 million warehouse facility with JP Morgan as the lead financier. This significant funding is a major step toward strengthening SME financing in the country, an essential component of Saudi Arabia’s Vision 2030 economic diversification strategy.
Lendo secured a $690M facility from JP Morgan to expand SME financing in Saudi Arabia.
The funding will boost Lendo’s lending capacity, introduce new financial products, and support Vision 2030 goals.
The deal reflects growing investor confidence in Saudi Arabia’s fintech sector and regulatory framework.
The financing, supported by Fintech Saudi, highlights the rapid growth of the fintech sector and the increasing role of alternative lending platforms in bridging the SME funding gap. By enhancing access to credit, Lendo aims to empower small and medium-sized enterprises (SMEs), driving economic expansion and job creation in the kingdom.
Strengthening Lendo’s market position
The new building will revolutionise Lendo's operations, enabling it to expand lending capacity, launch new financial products, and extend its reach throughout Saudi Arabia. The CEO and co-founder of the company, Osama Alraee has said the funding represents a milestone that confirms Lendo's disruptive SME financing model.
JP Morgan, a leader in global banking, welcomed the partnership, acknowledging the significance of a healthy SME sector to the economic growth of Saudi Arabia. George Deves, co-head of Northern European ABS at JP Morgan, has commented that growing SME lending will drive long-term economic prosperity and sustainability.
Growing investor confidence in Saudi fintech
The transaction highlights increasing international investors' confidence in Saudi Arabia's fintech market and regulatory environment. Lendo has already garnered strong investments, such as a $28 million Series B round led by Sanabil Investments, owned by the Public Investment Fund (PIF).
With the Saudi government driving growth in SME lending from 4% in 2018 to 20% by 2030, this partnership between Lendo and JP Morgan is an important milestone on the way. The financing facility not only serves the SMEs but also consolidates Saudi Arabia's position as a regional fintech leader.