P2P lender Beehive raises $4 million

P2P lender Beehive raises $4 million
04.03.2019 12:13 pm

P2P lender Beehive raises $4 million

P2P Lending

Beehive, MENA's leading peer to peer lending platform, has secured $4m of follow on investment from Riyad TAQNIA Fund (RTF) as part of a Series B funding round. 

This latest round brings the total raised by Beehive to $15.5m since its launch.

Craig Moore, Beehive Founder and CEO said, "This investment is testament to the success of the Beehive digital model and demonstrates RTF's continued commitment to our growth. The investment will help us execute the exciting expansion plans we have for the GCC and South East Asia."

Beehive has continued to deliver strong growth and successfully facilitated funding approaching $100 million to more than 450 business funding requests and registered nearly 10,000 international retail and institutional investors.

The investment follows the recent announcement of Beehive's partnership with Thanachart Bank in Thailand to provide a new Value Chain Financing Program for SMEs.

"Beehive has proven itself as a leading fintech pioneer in the region, using innovative digital solutions to improve SME financing accessibility. We're keen to support their future growth plans which include expansion into Saudi Arabia, bringing new funding options to Saudi businesses," commented Adel Al-Ateeq, Deputy CEO, Riyad Capital.

Related News

52% of P2P investors keep the same volume of savings during the pandemic

52% of P2P investors keep the same volume of savings during the pandemic

 

The results of a recent poll conducted by the European P2P... Read more »

HPDLendScape Enhances Supply Chain Finance Offer To Simplify Access For SMEs

HPDLendScape, a leading secured lending platform vendor, today announces new upgrades to its supply chain finance (SCF) solution. The new enhanced solution will make it simpler... Read more »

P2P loans are the most profitable assets for 53% of European investors

Recently, the P2P platform Robo.cash completed a survey of European P2P investors dedicated to their financial... Read more »

iwoca announces OpenLending which aims to serve 2 million SMEs by 2023 in fintech first

Iwoca, one of Europe’s largest business lenders has today announced OpenLending, the new platform that – for the first time – can unify fintechs and banks to extend iwoca’s... Read more »

Robocash Group Wins the Microfinance Company of the Year Award in Russia

Last Friday, an affiliated lending company of the fintech holding Robocash Group - MFC Zaymer - won the title... Read more »

Coronavirus epidemic has not affected portfolios of P2P investors

While financial markets are experiencing instability due to the coronavirus epidemic, it seems that European P2P investors have not been affected by the situation.... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel