liwwa raises $18.5m in pre-Series B

Fintech based in Jordan Liwwa closed an $18.5 million pre-Series B equity and debt round. Founded in 2015, liwwa uses technology in all of its operations to provide tailored financial solutions. It also owns and operates the liwwa investment platform, a peer-to-peer platform that allows retail investors to fund liwwa loans and earn returns.

The round included $4.5m in equity investments led by existing investors DASH Ventures, Dutch Entrepreneurial Development Bank FMO, Edgo and Bank al Etihad, in addition to German development finance institution DEG endorsing an investment of $0.79 million. The round also included debt contributions from a network of local banks and international development finance institutions; Bank al Etihad increased its debt financing agreement by $5m, while an additional $8.5m credit facility was raised from Capital Bank of Jordan under the NASIRA deal , Jordan Kuwait Bank and Triodos Bank granted a $1.1 million and $2.2 million financing facility respectively, PROPARCO approved a €1 facility and Triple Jump approved a €500,000 loan. $.

liwwa will use the funds for its growth and expansion plans. liwwa CEO Dennis Ardis shared his thoughts on the funding round: “With this funding round, we have taken yet another important step towards achieving our goals. We will continue to grow as the market grows by providing innovative Fintech solutions and cash flow based lending.”

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