Lendo, a Saudi-based debt crowdfunding platform, has secured a warehouse facility of SAR 2.6 billion (US$690 million), led by JP Morgan.

The facility will increase Lendo’s lending capacity and allow for the introduction of new products.

These initiatives are in line with Saudi Vision 2030, which targets an increase in SME lending from 4% in 2018 to 20% by 2030.