Mobcoders’ Fintech Start-up Enables Instant Invoice Financing for SMEs

Lendo, a P2P (Peer-to-Peer platform)

Mobcoder, an organization known for constructing digital roadmaps yet again making some strong inroads into the fintech domain.

Lendo, a P2P (Peer-to-Peer platform), through which SMEs directly reach the investors. It saves them from struggling with traditional financing and challenges like paperwork, lengthy processing periods, and high-interest rates.

A crowd-lending marketplace that provides small and medium enterprises (SMEs) with the opportunity to digitally pre-finance their outstanding invoices.

Lendo offers loans starting from about $27,000 and going up to $800,000 by connecting SMEs with investors on its marketplace through crowdlending.

As of now, this platform is dedicated to the Middle East Region and soon to be adopted in other parts of the world as well.

With Lendo, the mobcoder has successfully integrated financial expertise with advanced technology and developed a platform that can significantly decrease waiting time for the transaction between an investor and SMEs.

A win-win situation for both, it allows SMEs to grow instead of worry by helping them land affordable short-term financing. On the other hand, it also gives investors a chance to contribute to the thriving economy of the Middle East.

There has been a huge surge in the numbers of SMEs who turned to Lendo for financing to keep business alive. Owing to its popularity and adoption, this Saudi-based Fintech firm Lendo has raised 27 million riyals ($7 million) in Series A funding.

The Series A round was led by Derayah Ventures. It also included participation from Seedra, Shorooq Partners, 500 startups, and Impact 46.