Lendo, Saudi Arabia’s leading debt crowdfunding platform, has secured a $690 million warehouse facility from J.P. Morgan, marking a major milestone for the country’s fintech sector. The deal highlights growing international confidence in Saudi Arabia’s financial ecosystem and reinforces Lendo’s role in bridging the SME financing gap.

Osama Alraee, CEO and co-founder of Lendo, described the agreement as a transformative moment for both the company and the broader fintech industry. He pointed out that this facility will significantly expand Lendo’s lending capacity, create over 18,000 new jobs, and fuel economic growth in alignment with Vision 2030.

Alraee explained that Lendo’s Shariah-compliant debt crowdfunding model offers a faster and more accessible financing alternative compared to traditional banks. Instead of relying on a single lender, SMEs can tap into a network of over 84,000 investors, who collectively contribute to funding their business needs. This approach has already facilitated SR 2.5 billion in SME financing through more than 5,000 transactions, generating SR 125 million in investor returns.

Discussing the broader market landscape, Alraee noted that SME financing in Saudi Arabia has grown from SR100 billion in 2018 to SR 250 billion today, yet a SR 500 billion funding gap still exists. The Financial Sector Development Program aims to increase SME lending from 4% to 20% of total bank loans by 2030, and Alraee emphasized that fintech solutions like Lendo’s will play a crucial role in achieving this target.

Addressing Lendo’s future plans, Alraee stated that the company remains focused on scaling its core lending services rather than diversifying into new financial products. He highlighted that Lendo’s sustainable business model, backed by key investors such as Sanabil Investments (PIF) and J.P. Morgan, ensures long-term growth and stability.

Alraee concluded by reaffirming that this deal is not just about Lendo—it’s about unlocking opportunities for SMEs across Saudi Arabia. By providing accessible, efficient, and Shariah-compliant financing, Lendo is driving job creation, business growth, and economic diversification, shaping the future of Saudi fintech in the process.