Lendo and Penny Software Sign MOU to Support Procurement Systems with Innovative Financing Solutions

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[Riyadh, 18/06/2026] – Lendo, the leading crowdlending platform, announced the signing of a Memorandum of Understanding(MOU) with Penny Software, the leading cloud-based enterprise procure-to-pay platform. This strategic partnership aims to strengthen collaboration between the two parties and develop operational and commercial integration to support the customer experience and enhance the efficiency of operations and services provided through the platform

Under this MOU, both parties will collaborate to provide flexible and fast financing options for B2B companies, allowing buyers to manage their spending effectively and suppliers to receive their dues faster. This step reflects the companies' commitment to providing an integrated experience that combines advanced procurement technologies with efficient financial solutions that support corporate growth and expansion.

Osama Alraee, CEO of Lendo, stated: "At Lendo, we always strive to be a true partner and supporter of SME growth, aligning with Saudi Vision 2030's goals of diversifying the national economy. Our partnership today with Penny represents a strategic step to integrate innovative financing solutions directly into the heart of operational processes, empowering companies to expand and manage their operations with high confidence.

Majid Aldalooj, Co-Founder at Penny Software, added: "Adding Lendo's financing capabilities to our cloud platform reinforces our commitment to providing a comprehensive source-to-pay eco system. We aim not only to automate the purchasing process but also to empower our clients to flexibly manage their expenses and cash flows by providing the right financing exactly when they need it."

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