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LNDDO Digital Lending Limited: UAE's first licensed fintech

Success story

LNDDO Digital Lending Limited is the first licensed direct digital lender in the UAE and MENA region. Launched in 2021, it is officially authorised by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM).

LNDDO-Mambu
Customer base

Launched 2021

Segment

SME

Mambu's role

Cloud banking platform

LNDDO was founded to cater to SMEs through a fully digital onboarding experience, a new way of lending in the UAE. LNDDO’s key differentiator is a five minute 100% digital onboarding process and a ten minute credit decisioning, the fastest in the region. Ashraf Ghazaly, CEO of LNDDO, commented: “We are a fully cloud company that was established in the midst of the pandemic. Cloud has been instrumental to our success and allowed us to design and develop a digital lender remotely. We wanted to build a solution offering underserved SMEs in the Middle East quick and easy access to financing."

To ensure swift processes and customer engagement, LNDDO needed a cloud-native banking platform. The fintech examined the wider core banking market to find the most flexible, scalable and secure solution. In particular, they prioritised a configurable SaaS platform designed for easy implementation and fast deployment.

We chose Mambu because it is highly renowned in its space and there are numerous examples of fintechs and other financial institutions successfully working with their SaaS platform. We believe that Mambu is a perfect partner to help us realise our ambitions.
Ashraf Ghazaly
CEO, LNDDO

LNDDO partnered with Mambu and following a quick six week implementation, successfully built its first credit product - a Merchant Cash Advance product. "We chose Mambu because it is highly renowned in its space and there are numerous examples of fintechs and other financial institutions successfully working with their SaaS platform. We believe that Mambu is a perfect partner to help us realise our ambitions,” Ghazaly added.

LNDDO also became the first fintech to integrate with the UAE Pass and other government entities to verify commercial data in order to optimise the customer journey, enhancements which it will be launching within the next few months.

Thanks to Mambu’s speedy deployment, LNDDO’s customers have access to flexible, short-term loans that can be used to purchase inventory, service new orders or optimise cash cycles. SMEs can apply in minutes, select their desired repayment terms, and receive funds within one week. Following a successful launch, LNDDO plans to further leverage Mambu to extend its product portfolio and expand geographically in the region.

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