Saudi fintech startup Lendo set to unlock invoice financing for SMEs launches

Thursday 19 December 2019 14:13 CET | News

Lendo, the peer-to-peer (P2P) lending marketplace that offers small and medium-sized enterprises (SMEs) to digitally pre-finance their outstanding invoices, was launched.

As an alternative to obtaining short-term finance, Lendo empowers SMEs to enhance cash flows by borrowing money from individual lenders against their outstanding invoices. This makes small business lending simple and decreases the amount of time and effort it takes to secure immediate funding.

The platform provides solutions to two major pain points in the SME finance market. First, the limited options for SME businesses to borrow cash quickly and easily and second, the limited short-term options that offer higher returns for investors/lenders. Lendo is developing a community of borrowers and sophisticated investors that enables SMEs and investors to match each other through the P2P model.

Lendo is a fintech sandbox licensed financial intermediary platform. It leverages a tech stack that brings new solutions to credit and risk assessments by utilizing unconventional data points regarding the borrowers and its underwriting capabilities and loan servicing capacity.

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Keywords: Saudi, fintech, startup, Lendo, invoice financing, SMEs
Categories: Banking & Fintech
Countries: Saudi Arabia
This article is part of category

Banking & Fintech