Riyadh - Exclusive Sharikat Mubasher: Lendo, a leading P2P lending marketplace based in Riyadh, provided funds amounting to SAR 300 million during the second quarter (Q2) of 2024, Majed Bahkali, Investor Relation Manager at Lendo, told Sharikat Mubasher.

In an interview held on the sidelines of the 24 Fintech conference, Bahkali revealed that the company extended over SAR 2 billion to finance around 5,000 investment opportunities to date.

The official noted that Lendo’s talented team is committed to supporting startups and small and medium-sized enterprises (SMEs) as it follows a distinctive credit evaluation process through which Lendo evaluates and provides startups with necessary funds within 48 hours.

Lendo is a Shariah-compliant lending marketplace that helps to digitally pre-finance outstanding invoices for SMEs in Saudi Arabia and connects businesses with investors offering quality short-term financing.

24 Fintech takes place in Riyadh from 3 to 5 September, with the participation of more than 300 exhibitors and over 350 investors. It gathers regulatory bodies, policymakers, investors, technology experts, and industry leaders from around the world.

It serves as a platform for global thought leaders across finance, policy, technology, investment, and academia to discuss several topics, including, fintech regulation and governance, artificial intelligence and machine learning in financial operations, financial inclusion, cybersecurity and big data, embedded finance, and more.