Lendo
Lendo is a peer-to-peer lending platform that matches SMEs with investors. The company charges SMEs a management fee for facilitating loan transactions. It has recently expanded its operations into Saudi Arabia. The company is currently under strategic review. It plans to have more information about its future plans by the end of the year.
Lendo is a peer-to-peer lending platform
Lendo is a peer-to peer lending platform that empowers SMEs with debt and cash flow financing. The platform offers a wide range of financing products to SMEs, with a focus on pre-invoicing finance. Lendo is based in Saudi Arabia and was launched in 2019.
Lendo offers loans starting at SAR 100,000 and can be as much as SAR 3 million. It uses crowdlending and peer-to-peer lending to connect SMEs with investors and capital. It recently secured $7.2 million in Series A funding from investors. The round was led by Derayah Ventures, with participation from Seedra Ventures.
Peer-to-peer lending platforms are different from traditional banks in that they allow lenders to choose the projects and businesses they want to fund. This allows them to choose who they want to fund, which in turn increases their chances of making a profit. However, the downside to peer-to-peer lending is that lenders are typically charged origination fees. These fees are typically between one and eight percent of the loan amount. Some lenders charge a higher percentage than others.
Peer-to-peer lending platforms make money through the origination fees and repayment fees that lenders and borrowers pay. However, some risk can arise, including the risk of bad returns and bad treatment from borrowers. The business model and investment structure of each platform affects the risk structure of the loans.
Traditional Banks and Online Lenders
Peer-to-peer lending platforms can be risky because investors take the risk of not getting their money back in the event of loan default. In contrast to traditional banks and online lenders, investors have no direct relationship with the borrowers. However, peer-to-peer lending platforms can help borrowers achieve their goals and save money.
Peer-to-peer lending is a growing phenomenon in the financial world. These online platforms connect borrowers with investors who are willing to lend to those in need. Unlike traditional banks, the platform works by pre-qualifying borrowers, offering them loan terms, and calculating the annual percentage rate of interest.
Lendo is one of the leading peer-to-peer lending platforms in the UAE. The platform has been growing steadily since its launch in early 2015. In fact, it is estimated that by 2020, the country will have at least six P2P lenders and 60+ FinTech companies.
It connects SMEs with investors
Lendo connects SMEs with investors and charges them a fee to manage their investments. Lendo also takes a 20 percent cut from the profits that the investors make through their investments. The startup was launched last year and claims to have financed over 100 invoices worth SAR 60 million. The company also claims that its business model has generated over SAR 3 million in profit for its investors.
Lendo is a Saudi Arabia-based peer-to-peer lending platform for SMEs. It aims to fill the funding gap left by traditional lenders and banks for Saudi SMEs. It is the first platform of its kind in the kingdom. The company aims to reduce the time and complexity of small business lending and make it more accessible to entrepreneurs.
Lendo offers a variety of debt financing and invoice financing products to SMEs. The company was established in 2019 and is headquartered in Riyadh, Saudi Arabia. It offers a Shariah-compliant lending marketplace that connects SMEs with investors. The company aims to expand throughout Saudi Arabia to reach more SMEs and investors.
The startup has raised $7.2 million in Series A funding from Saudi Arabia’s Derayah Ventures. The money will be used to expand Lendo’s technology and reach new markets. It also plans to expand into new verticals and increase its team’s size across departments. In addition to its technology, Lendo is aiming to build a global network of strategic channel partners.
It charges SMEs a management fee
Lendo is a peer-to-peer lending marketplace that enables SMEs to pre-finance their outstanding invoices digitally. Launched to coincide with Arabnet Riyadh, Saudi Arabia’s biggest entrepreneurial ecosystem event, Lendo allows SMEs to increase cash flow by partnering with individual lenders. The platform streamlines the small business lending process and cuts the time it takes to secure funding.
In addition to charging SMEs a management fee, Lendo also takes a 20 percent cut of their investors’ profits. Since the service launched last year, the company claims to have funded more than 100 SMEs’ invoices worth SAR 60 million. The service also claims to have given investors over SAR 3 million in profits.
It has expanded into Saudi Arabia
Lendo, a FinTech Sandbox-licensed financial intermediary, has entered Saudi Arabia with plans to launch new products and expand its reach to small and medium businesses. The company aims to promote SMEs and expand the Saudi economy through its innovative financial technology platform. The company has three Middle East Venture Capital firms backing it, and is targeting to become the leading platform for SME lending in Saudi Arabia. It also plans to develop a robust credit scoring engine and hopes to lead the region’s FinTech industry in P2P lending.
The startup has gained a license from the Saudi Central Bank (SAMA), allowing it to conduct financial services in the country as a Shariah-compliant debt crowdfunding company. The company, which was founded in 2019, specializes in lending to small and medium-sized businesses. In the coming months, it plans to introduce new products and expand its services for the local SME community.
Lendo is a peer-to-peer lending marketplace that allows SMEs to digitally pre-fund outstanding invoices. Launched to coincide with Arabnet Riyadh 2019, the largest event dedicated to the entrepreneurial ecosystem in the Kingdom, Lendo has helped SMEs enhance cash flows by connecting them with individual lenders. By simplifying the process of small business lending, Lendo is helping Saudi SMEs to make better use of their limited resources and reduce the amount of time it takes to secure funding.
Derayah Ventures
Lendo has raised $7.2 million in a Series A funding round led by Saudi venture capital firm Derayah Ventures. It also received support from 500 Startups, Shorooq Partners, and Impact46. The company plans to expand its operations in the kingdom and launch new products for the local market. It has already processed over 100 invoices worth more than SAR60 million since its launch.
Saudi Arabia is a fast-growing market for online lending. Its Vision 2030 initiative has made it a priority to grow the fintech industry. By 2020, there are expected to be 60 fintech companies operating in the country, including 12 P2P lenders. Other companies in the market include Forus, Funding Souq, Raqamyah Platform, and Tayseer.
