Jordan-based fintech liwwa closes $18.5 million pre-Series B round
liwwa, a Jordan-based fintech working on bridging financial gaps and broadening investment horizons, has closed its $18.5 million pre-Series B round, in a mixture of debt and equity funding from investors.
- The raised funds will be used to support its growth and expansion plans, the fintech claims.
- Existing investors in the fintech, DASH Ventures, Dutch Entrepreneurial Development Bank FMO, Edgo, and Bank al Etihad invested $4.5 million in the round, German Development Finance Institution DEG invested $0.79 million, and local and international financial institutions participated with debt financing.
- Bank al Etihad increased its debt funding by $5 million, the Capital Bank of Jordan under the NASIRA agreement, added $8.5 million in debt facility, and Jordan Kuwait Bank and Triodos Bank extended a $1.1 and $2.2 million finance facility. PROPARCO approved a €< facility and Triple Jump provided a $500 thousand loan as part of the round.
- Founded in 2015, liwwa connects investors and borrowers through smart business loans. It uses its technology stack to provide tailored financial solutions. Dennis Adris, liwwa's CEO believes that the funding round will enable the startup to provide more innovative fintech solutions and cash flow-based lending.
