Fintech P2P SME Lending Platform, Beehive, Raises Further $4m Investment as Part of a Series B Round
Summary
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 Beehive P2P Ltd. is the first peer to peer lending platform in MENA to be regulated by the DFSA. Beehive directly connects businesses looking for finance with investors, creating mutually beneficial partnerships for growth. It is backed by leading institutional investors in Saudi Arabia and invests in the areas of ICT, Energy & Sustainability and Advanced Materials.