Saudi Aramco invests $5.5mln in fintech startup Lamaa

Lamaa, a Riyadh-based fintech startup which provides invoice financing solutions for small and medium sized enterprises

  
Image used for illustrative purpose Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

Image used for illustrative purpose Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

REUTERS/Ahmed Yosri
RIYADH: Fintech startup Lamaa secured a $5.5M seed round led by Raed Ventures and Saudi Aramco’s entrepreneurship arm Wa’ed, according to a statement.

Lamaa, a Riyadh-based fintech startup which provides invoice financing solutions for small and medium sized enterprises, has announced it has secured one of the largest seed funding rounds in the Kingdom.

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