Lendo vs Raqamyah vs Forus — Which is Best for SME Financing 2026?
Complete comparison of Saudi Arabia's three biggest debt crowdfunding platforms — returns, fees, minimums, and which is best for the Saudi investor.
Three Platforms Competing for the Saudi Investor
Lendo, Raqamyah, and Forus — three CMA-licensed debt crowdfunding platforms competing for retail investors with fixed returns from Saudi SME financing. All are CMA-licensed, but each has a different model.
Quick Comparison Table
| Criteria | Lendo | Raqamyah | Forus |
|---|---|---|---|
| Licence | CMA | CMA | CMA |
| Minimum investment | SAR 1,000 | SAR 1,000 | SAR 1,000 |
| Expected return | 12-15% | 13-17% | 12-18% |
| Financing types | SME + invoice + POS | SME | SME |
| Investor fees | None | None | None |
| Auto-diversification | Yes | Yes | Yes |
| Per-deal minimum | SAR 1,000 | SAR 500 | SAR 500 |
Lendo — Biggest and Most Diversified
Lendo is the leading Saudi debt crowdfunding platform. Strengths:
Product diversity: SME + invoice + POS financing
Volume: largest platform by deal volume
Demand: most deals fund out in minutes
**Downside**: Competition for the best deals is fierce — you may miss the fastest ones.
Raqamyah — The Oldest in the Market
Raqamyah was the first licensed Saudi debt crowdfunding platform. Strengths:
Long track record: 5+ years of operations
Sector focus: SME financing across diverse industries
Slightly higher returns: 13-17% vs Lendo's 12-15%
**Downside**: Deal volume is smaller than Lendo, so you may wait for suitable opportunities.
Forus — Fastest Growing
Forus has rapidly risen to challenge Lendo and Raqamyah. Strengths:
Highest expected returns: up to 18% annually
Low per-deal minimum: SAR 500 enables better diversification
Modern platform: newer app and UI than competitors
**Downside**: Shorter track record than Raqamyah and Lendo, so risks are less established.
Which is Best for Me?
Pick Lendo if... You want broad diversification (SME + invoices + POS) and are willing to compete for the best deals.
Pick Raqamyah if... You value the long track record and want a platform with documented results across 5+ years.
Pick Forus if... You want the highest possible returns and flexibility to diversify with small amounts (SAR 500 per deal).
The Smart Move — Use All Three
Best strategy for the Saudi investor: spread capital across all three for broader diversification. For example: 40% Lendo, 30% Raqamyah, 30% Forus. You benefit from each platform's strengths and reduce concentration risk.
Risks to Watch
Default risk: SMEs may default (historical: 1-3% for the three platforms)
Liquidity risk: you can't withdraw before the financing term ends (3-12 months)
Capital not guaranteed: investment is unsecured; you may lose part
Read each deal's prospectus before investing, and never put all your capital in one deal.
Start From the Opportunities Page
Diro's [Opportunities page](/en/invest/opportunities) shows every active deal from all three platforms in one place. Free and zero commission.
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