# Lamaa

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lamaa

- Industry: Financial Services
- Headquarters: Riyadh, Saudi Arabia
- Website: www.lamaa.sa
- Total disclosed funding: $5.5M
- Latest round: Seed (Dec 1, 2021)
- Investors on record: 2

## About

Based in Riyadh, Saudi Arabia, and founded in 2021 by its CEO, Sumeet Khutale, Lamaa operates as a financial service company that provides loans secured against outstanding invoices to small and medium-sized enterprises. In December 2021, Lamaa raised USD 5.5 million in seed funding, co-led by new investors RAED Ventures and Wa'ed. As of December 2021, the company has provided its service to more than 100 corporate clients and processed over 8 million invoices with a transaction amount of USD1 billion.

The company's cloud-based platform provides invoice financing solutions that enable its clients to borrow money against unpaid invoices from their customers. The company's solutions help businesses improve cash flow, pay employees and suppliers, and reinvest in operations and growth.

Lamaa will use the seed funding to expand its service by offering B2B Buy Now Pay Later and also plan to expand the company into Egypt, UAE, and Qatar.

## Funding rounds

- Seed, Dec 1, 2021, $5.5M — RAED Ventures, Saudi Aramco Entrepreneurship Ventures

## Investors

- RAED Ventures (https://capitalatlas.ai/funds/raed-ventures) — Seed
- Saudi Aramco Entrepreneurship Ventures (https://capitalatlas.ai/funds/saudi-aramco-entrepreneurship-ventures) — Seed