The Lending Hub Secures $3.2 Million to Boost Growth and Expand Peer-to-Peer Financing Solutions
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Saudi-based peer-to-peer financing platform, The Lending Hub, has announced the successful closure of a 12 million SAR (~USD 3.20 million) funding round. The round, led by Embark and angel investors, aims to support the company's expansion and introduce additional financing solutions. The announcement was made during the Fintech24 conference in Riyadh.
Fahad Al-Modaihem, CEO of The Lending Hub, emphasized that the company was founded under Embark, a business development entity fostering innovation in financial technology. Al-Modaihem highlighted Embark’s mission to create a positive and sustainable impact by supporting innovative startups and projects, particularly in technology, finance, and artificial intelligence, in line with Saudi Vision 2030.
He further added that The Lending Hub’s establishment stems from a shared vision with Embark to develop secure and innovative financial solutions that benefit individuals. The recent investment will help the company enhance its services and expand its operations to meet the growing demand for financing in Saudi Arabia. Al-Modaihem also expressed gratitude to the Saudi Central Bank for its continued support, enabling the company to achieve new milestones and offer advanced financing solutions.
Founded in 2023, The Lending Hub connects borrowers with investors directly through its peer-to-peer financing services.
Source: Jawlah
The Lending Hub
The Lending Hub is a peer-to-peer crowdfunding platform that aims to provide underbanked borrowers with quick access to alternative funding options.
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