Jordan’s Liwwa Secures $18.5 Million in Debt and Equity
In a pre-Series B round of equity and debt, Jordanian fintech company Liwwa secured $18.5 million.
The 4.5 million dollar equity raise was led by Iiwwa’s existing investors like the Bank al Etihad, the Dutch Development Bank FMO, and DASH Ventures. DEG, the German institutional investor, pumped in an additional $790,000.
International equities and local banks like Bank al Etihad and Capital Bank of Jordan increased their debt financing for Iiwwa by $5 million and $8.5 million, respectively. Furthermore, Europe’s Triodos Bank and the Jordan Kuwait Bank extended their million finance facility by $2.2 million and $1.1 million, respectively.
Liwwa was established in 2013 and currently operates from Amman. The company lends financial help to small businesses in Egypt and Jordan. It runs a marketplace for SME investors to purchase loans.
According to Iiwwa’s sources, the company will use the funds to fuel its growth and expansion plans.
World fintech news provides insightful analyses of the financial industry and keeps you up-to-date with the latest developments in fintech. To read more news and stories about fintech, visit https://worldfintechnews.com/.