LNDDO digital lending is delighted to announce that it is now able to offer significantly more funding for SMEs and allow businesses to access loans twice as fast than ever before.
Just a matter of months after launching, the first licensed digital lender in the UAE and MENA region has welcomed serval major developments. Firstly, LNDDO has received a generous $3 million investment from H.H. Sheikh Tahnoon Bin Saeed Bin Shakhboot Al Nahayan, gifted to help the provider boost the SME sector and strengthen the economy as a whole.
Alongside this extra investment, LNDDO has also worked on improving the efficiency of its application and approval processes. Through partnering with various payment service providers such as Telr, LNDDO has been able to reduce its loan approval time by an incredible 50 percent, meaning that SMEs can now receive funds twice as quickly.
Ashraf Ghazaly, Founder and CEO of LNDDO, commented: “Since launching in the region, I’m absolutely thrilled to announce that our services have been received tremendously. Now, thanks to H.H. Sheikh Tahnoon Bin Saeed Bin Shakhboot Al Nahayan we are able to assist and uplift even more small and medium sized businesses and entrepreneurs.
“The extra $3 million investment will be used to help the SME sector recover from the effects of the COVID-19 pandemic, and encourage the region to prosper and grow. Meanwhile, by partnering with various leading payment service providers, e-commerce platforms and delivery aggregators we have been able to half the time it takes for us assess and approve a loans application, which again is fabulous news for the UAE’s hardworking business owners. I want to thank all out investors and partners for their much-appreciated support so far and I can’t wait to see how LNDDO develops in the future. This is really just the beginning of our journey as we work to disrupt and improve the region’s loans services for SMEs.”
