• Saudi fintech LDUN raised USD 4.8M in seed funding to expand digital financial services for MSMEs across the Kingdom.
• LDUN offers Sharia-compliant BNPL, trade credit, factoring, and reverse factoring to improve liquidity and cash flow for businesses.
• The funding will help LDUN grow its product suite, strengthen regional partnerships, and simplify complex financial processes with technology

LDUN

Saudi’s fintech, LDUN, secured USD 4.8 million in its seed funding round. The round was led by Sadu Capital. It also saw participation from Suhail Ventures, numu Angels and a group of investors.

Up next, with the new funding it intends to expand its suite of financial products. It also aims to strengthen partnerships with local and regional stakeholders, and build a technology-first approach that simplifies complex financial processes. Furthermore, its long-term strategy revolves around creating sustainable value for businesses, investors, and the wider Saudi economy. Additionally, it aims to accelerate its product development, scale operations and reach a larger base of MSMEs across Saudi.

MSMEs

Founded in 2021 by Feras AlHamdan and Faisal bin Dkhil, LDUN is a fintech company focusing on transforming access to finance for SMEs. It operates in the field of factoring services for MSMEs. Furthermore, it  offers a comprehensive range of financial services, including Sharia-compliant BNPL, trade credit, factoring, and reverse factoring.  With this, it is aiming to tackle one of the most pressing challenges faced by businesses, managing cash flow and accessing flexible credit solutions.
 Through its platform, it aims to provide innovative digital solutions that simplify and automate trade credit transactions between suppliers and retailers.  This is to aid  business owners to enhance their purchasing power and improve liquidity and cash flow for suppliers. Furthermore, this is important because MSMEs form the backbone of the Saudi economy and are central to long-term development plans.