Liwwa, a peer-to-peer lender, has raised $18.5m pre-Series B round of equity and debt funding.
The equity raise – which raised $4.5m – saw participation from DASH Ventures, FMO, Bank al Etihad and Edgo, while DEG invested $790,000.
The debt financing, meanwhile, came from a range of local banks and international entities, such as Bank al Etihad and Capital Bank of Jordan. Also taking part were Triodos Bank and Jordan Kuwait Bank.
Founded in 2013, Amman-based liwwa lends to small businesses in Jordan and Egypt. The company also owns and operates liwwa.com – a marketplace for SME loans where investors can purchase loan receivables.
liwwa claims it will deploy the new funds towards its growth and expansion plans going forward.
Meanwhile, Tabby, a Middle Eastern payments and shopping app, recently raised $150m in debt financing from Atalaya Capital Management and Partners for Growth.
Following Tabby’s Series B extension earlier this year, Tabby’s total capital raised to date amounts to $275 million.
According to Tabby, the investment fortifies its balance sheet and supports its sustained growth in transaction volumes and product expansion. Tabby will continue to provide MENA’s consumers with access to credit otherwise unavailable to them, without charging any interest or other fees.
Copyright © 2022 FinTech Global
