Saudi's Industrial Investment Fund Co. & Lendo Launch SAR 200M Program for Industrial SMEs
The Industrial Investment Fund Company and Saudi funding platform Lendo have announced a partnership to launch a SAR 200 million investment program. This initiative is designed to provide quick and sustainable working capital funding to small and medium-sized industrial enterprises (SMEs) across Saudi Arabia, aiming to diversify funding sources within the industrial sector.
SAR 200M Investment Program to Boost Saudi Industrial SMEs
In a significant move to bolster the Kingdom's industrial base, the Industrial Investment Fund Company has collaborated with Lendo, a prominent Saudi funding platform, to introduce an investment program valued at SAR 200 million. The core objective of this program is to deliver timely and sustainable working capital financing specifically to small and medium-sized industrial enterprises (SMEs) located throughout Saudi Arabia.
Leveraging Lendo's Fintech Platform for Funding
The program will utilize Lendo's established fintech platform to facilitate the provision of funding to eligible SMEs. This will involve offering a range of financing products tailored to business needs, including:
Purchase order financing
Trade invoice financing
Due receivables financing
The initiative effectively combines Lendo's technological capabilities with the Industrial Investment Fund Company's investment and expertise to make alternative funding tools more accessible to the industrial sector.
Diversifying Funding and Supporting National Industry
A key aim of this SAR 200 million program is to diversify the available funding sources for industrial SMEs in Saudi Arabia. By providing alternative financing mechanisms through Lendo's platform, the partnership seeks to support the growth, sustainability, and operational efficiency of these vital enterprises, contributing to the overall strength of the national industrial sector.
About the Industrial Investment Fund Company
The Industrial Investment Fund Company plays a crucial role in supporting and developing Saudi Arabia's industrial sector. Through strategic investments and partnerships, it aims to enhance the capabilities and competitiveness of industrial enterprises within the Kingdom.
About Lendo
Lendo is a Saudi-based financial technology (fintech) company that operates a leading funding platform for small and medium-sized enterprises. It specializes in providing debt crowdfunding and invoice financing solutions, leveraging technology to offer quick and accessible financing to businesses.
Looking Ahead
This SAR 200 million investment program launched by the Industrial Investment Fund Company and Lendo is poised to provide a significant uplift to Saudi Arabia's industrial SMEs. By improving access to working capital through innovative fintech solutions, the initiative is expected to foster growth, enhance productivity, and contribute to the diversification and development of the Kingdom's industrial economy.
Source: Jawlah