Funding round
Lendo Series A
Lendo, which works in islamic SME financing solutions in Riyadh, raised $7.2M in a Series A round announced on 14 Mar 2021, led by Derayah Ventures. 5 firms took part. It is Lendo's first venture round on record.
$7.2M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Lendo did not disclose a valuation in this round. It is Lendo's first venture round on record, 3 years after it was founded in 2018. It is 20% of the $35M Lendo has raised in the venture rounds on record. Lendo raised again 33 months later: a Series B round of $28M in Dec 2023.
Lendo's funding rounds
Lendo has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Series A this round 14 Mar 2021, led by Derayah Ventures $7.2M
- Series B 10 Dec 2023, led by Sanabil $28M
- Debt not a venture round 30 Jan 2025, led by J.P. Morgan $690M
Investors
Who put money in
Derayah Ventures led the round with 4 other firms.
Lead investor
- Derayah Ventures new investor
Also in the round
- backs 16 venture-backed companies new investor
- Shorooq Partners new investor
- 500 Global backs 327 venture-backed companies new investor
- backs 30 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, working capital and sales and marketing.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
- Sales and marketing
Comparable rounds
How it compares
76 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $12M, and this round was 60% of the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 31 Mar 2021 | $3.6M | not disclosed | Partech |
| Loans & Financing | 1 Feb 2021 | $158M | not disclosed | not named |
| Loans & Financing | 17 Feb 2021 | $65M | not disclosed | Andreessen Horowitz |
| Loans & Financing | 7 Apr 2021 | $26M | not disclosed | not named |
| Loans & Financing | 29 Apr 2021 | $10M | not disclosed | Pantera |
| Loans & Financing | 10 Feb 2021 | $10M | not disclosed | ACME Capital |
| Loans & Financing | 25 Feb 2021 | $5.0M | not disclosed | not named |
| Loans & Financing | 23 Feb 2021 | $5.0M | not disclosed | Monk's Hill Ventures and Qualgro |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Lendo raise in its Series A round?
Lendo raised $7.2M in its Series A round, announced in Mar 2021.
Who led Lendo's Series A round?
Derayah Ventures led it, with SEEDRA Ventures, Shorooq Partners, 500 Global and Impact46.
What was Lendo's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
76 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $12M, and this round was 60% of the median.
Did Lendo raise again after this round?
Yes: a Series B round in Dec 2023 of $28M.