Leading the round was Sanabil Investments, a subsidiary of the Kingdom’s Public Investment Fund (PIF), which was joined by other participating investors including Shorooq Partners and AB Ventures.
The raise builds on the company’s earlier Series A funding round of March 2021, when it raised $7.2 million (SAR 27 million) led by Derayah Ventures with participation from Seedra Ventures and other investors. Since being founded in December 2019, Lendo has raised a total of $35.2 million (SAR 132 million) in funding.
