Latham & Watkins has advised Lendo, the leading debt crowdfunding platform in Saudi Arabia, on a US$690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan.

The transaction underscores the growth in Saudi Arabia’s fintech sector and the opportunity in SME financing in the economy. The facility will also contribute to the Kingdom’s Vision 2030 goals.

The Latham team was led by London finance partner Tom Cochran, with counsel Delyth Hughes and Riyadh counsel Peter Norris, with London associates Leah Morgan Parle, Jessie Rao, and Ming Hao Tay, and Riyadh associates Khaled Alhuneidi and Mashal Al Assaf.