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Jordan-based fintech liwwa has closed its $18.5 million pre-series B round of equity and debt.
liwwa raises $18.5 million in equity and debt
Existing investors DASH Ventures, Dutch development bank FMO, Edgo and Bank al Etihad led the $4.5 million equity round, with German development bank DEG investing $790,000.
Debt financing came from several local banks and international institutions, including Bank al Etihad, which increased its debt financing contracts by $5 million, and Capital Bank of Jordan, which increased its contracts by $8.5 million. European ethical bank Triodos Bank extended a $2.2 million line of credit and Jordan Kuwait Bank extended his $1.1 million line of credit.
Founded in 2013 and based in Amman, liwwa lends to SMEs in Jordan and Egypt. He also operates the SME loan marketplace, a peer-to-peer lending network where investors can purchase loan bonds.
liwwa said it will deploy the new funding towards its growth and expansion plans.
