Saudi Fintech LDUN Raises $4.8 Million Seed Round
The startup offers a comprehensive range of solutions to increase the purchasing power of MSMEs, while also improving the cash flow of their suppliers.
Saudi fintech, LDUN, has announced that it has closed a seed funding round worth $4.8 million, as it continues to position itself as a key player in the digital transformation shaping the country’s financial sector. The investment was led by Sadu Capital, with participation from Suhail Ventures and Nomu Angel Investment.
Founded by Feras Al-Hamdan and Faisal bin Dukhail in 2021, LDUN offers MSMES a comprehensive range of financial services, including Sharia-compliant 'Buy Now, Pay Later,' trade credit, factoring, and reverse factoring, all geared towards simplifying financial transactions between wholesale and retail merchants.
Licensed by the Saudi Central Bank (SAMA), the startup has conceived and designed its solutions to empower MSMEs by increasing their purchasing power and improving cash flow for their suppliers.
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