Riyadh - Sharikat Mubasher: LUDN, a Saudi fintech company permitted by the Saudi Central Bank Regulatory Sandbox, successfully secured $4.8 million in a seed funding round, led by Sadu Capital, with participation from Suhail Ventures and Numu Angels.

The company announced the successful closure of the round during the Money 20/20 Middle East conference. 

Founded in 2021 by Feras AlHamdan and Faisal BinDakhil, LUDN aims to transform access to finance for small and medium-sized enterprises (SMEs). It offers a wide range of financial services, including Sharia-compliant buy now, pay later (BNPL), trade credit, factoring, and reverse factoring.

With a deep expertise in supply chain finance, credit sales, and B2B financial services, LDUN targets simplifying financial transactions between wholesale and retail merchants and empowering businesses to grow through flexible and secure payment options.