Osama Al-Raee, a Saudi pioneer, was able to realise a major ambition that many people may not be able to achieve: he established a prominent entrepreneurial enterprise for small and developing business owners.
Osama Al-Raee, the Founder of Lendo
Finding a solution to the finance shortage that plagues startup businesses was Al-Raee’s simple notion that led to significant investment gains.
The investment concept proposed by Al-Raee is noteworthy due to its alignment with the Kingdom’s Vision 2030, which is focused on bolstering the economic climate.
As well as, broadening the investment base to provide renewable employment opportunities and fund entrepreneurs’ expenses.
Lendo Company – Finance and Investment
The company specialised in the financial technology business, namely providing electronic financial services. The cornerstone of Lendo’s business is the issuance of loans and financing of invoices following Islamic Sharia.
Naturally, Al-Raee’s administration and ownership of the firm are not unique, as it is the outcome of a collaboration between him and Muhammad Jawabreh, with Al-Raee serving as CEO.
Osama Al-Raee’s Academic and Professional Life
Al-Raee completed his undergraduate studies at King Fahd University of Petroleum and Minerals in Saudi Arabia before earning a master’s degree in business administration from Duke University in North Carolina.
In addition, Al-Raee completed a human capital investment training programme at Stanford University in California. Before founding Lendo, Al-Raee held several jobs, such as:
- Product Manager at Amazon International
- Assistant for the American management consulting company McKinsey & Co.
- Chief Executive Officer of the Saudi “Misk” Foundation, which promotes and empowers young people in business, education, and technology.
- Co-founder and consultant for the Saudi firm “Salasa,” which specialises in offering dependable logistical solutions for retail establishments selling electronics.
- Co-founder and CEO of financial technology company Lendo.
How does Lendo Operate?
Most companies struggle to secure money for their projects or attract investors. Besides, they frequently avoid borrowing by escaping exorbitant interest rates and onerous procedures.
By giving small and growing businesses funding and putting them in touch with investors, Al-Raee was able to convert this issue into an opportunity.
Peer-to-peer lending is how Lendo operates, and it complies with Islamic law operating under a licence from the Saudi Central Bank, it follows debt crowdfunding.
Thus far, Lendo has successfully provided funding to several small and medium-sized businesses across the Kingdom.
With a value exceeding a quarter of a billion Saudi riyals; the net earnings of investors totaled around 8 million Saudi riyals, however, this figure might rise.
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