VC React Podcast VC React Podcast (E24): Lendo's $690M Facility Led by J.P. Morgan, & qeen.ai’s $10M Seed round
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations! Hosts:
Ahmad Takatkah, VCpreneur.Sign up to VCpreneur Newsletter onhttps://www.vcpreneur.com/ Jamie Lane, FWDstart. Sign up to FWDstart Newsletter onhttps://www.fwdstart.me/
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Available on: Youtube:https://www.youtube.com/@VCReactPodcast Spotify:https://podcasters.spotify.com/pod/show/vc-react-podcastApple:https://podcasts.apple.com/us/podcast/vc-react-podcast/id1764834384Amazon:https://music.amazon.com/podcasts/bdc23d6a-4381-405d-bf59-53560c671c11/vc-react-podcast---
Guests:1. Asjid Hayat, Venture Partner @ Palm Ventures- LinkedIn Profile: https://www.linkedin.com/in/asjidhayat/ - VC Firm Website: https://www.palm-ventures.com/2. Dina Toukan, Investment Manager @ ISSF - LinkedIn Profile: https://www.linkedin.com/in/dinatoukan/ - VC Firm Website: https://issfjo.com/ 3. Marwan Mohammad, Angel Investor, and Venture Builder @ Gia- LinkedIn Profile: https://www.linkedin.com/in/marwan1995/ - VC Firm Website: https://www.linkedin.com/company/giavc/
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News of the week brought to you by FWDstart.In Today's Episode:
- Lendo Secures $690 Million Facility Led by J.P. Morgan to Boost SME Financing in Saudi ArabiaSummary: Saudi Arabia-based fintech Lendo has secured a $690 million warehouse facility led by J.P. Morgan to expand its lending capacity, develop new products, and increase SME coverage in the Kingdom. Founded in 2019 by Osama Alraee and Mohamed Jawabri, Lendo operates a crowdlending marketplace connecting businesses seeking financing with investors looking for short-term returns. In late 2023, the company closed its $28 million Series B round, led by Sanabil Investments, with participation from Shorooq Partners, AB Ventures, and others. To date, Lendo claims to have facilitated over $667 million in financing across 5,000+ transactions, generating $33.3 million in investor returns.- Wamda Capital participates in qeen.ai’s $10 million Seed roundSummary: UAE-based AI startup qeen.ai has secured a $10 million Seed funding round, in one of the largest seed investments in the MENA region to date. The round is led by Prosus Ventures, with participation from existing investors including Wamda Capital, 10x Founders and Dara Holdings.Founded in 2023 by Dina Alsamhan, Ahmad Khwileh and Morteza Ibrahimi, qeen.ai provides accessible and autonomous AI solutions tailored to e-commerce businesses. The seed round will support qeen.ai’s growth strategy by expanding the reach and capabilities of its agentic AI platform, scaling the team, and attracting a wider customer base. This investment brings qeen.ai’s total funding to $12.2 million, after closing a $2.2 million pre-Seed in June 2024.---(أحمد طقاطقه)---