Hourani advises Lendo in securing SAMA licensing

Hourani & Partners has advised Lendo in relation to setting up its market-leading fintech platform in Saudi Arabia. The approval of the license by the Saudi Central Bank (SAMA) makes Lendo the first company in Saudi Arabia to be granted the license of offering debt crowdfunding for SMEs in Saudi Arabia.

 
Lendo is a peer-to-peer digital lending marketplace that provides pre financing solutions for SMEs in Saudi Arabia. With a network of over 70,000 registered investors Lendo has funded over $321m to SME’s resulting in returns of over $37m to investors.

The transaction was led by Mustafa Kamal with support from Khalid Alhamdan and Ellen Ray.