Beehive, a Fintech Peer-to-Peer Lending Platform, Raises $5M

Beehive, a peer to peer lending (P2P) platform, has secured $5 million in investment as part of a Series A round led by Riyad TAQNIA Fund. The round was supported by the Mohammed Bin Rashid Fund, the financial arm of Dubai SME, as well as several other regional investors. This latest round brings the total raised by Beehive to $10.5 million since its launch.

Beehive is the first P2P platform in the Middle East and North Africa region (MENA) to be regulated by the DFSA. It facilitates flexible Sharia-compliant financing solutions for established SMEs seeking finance from AED 100,000 for up to three years. Beehive directly connects businesses looking for finance with a crowd of investors, creating mutually beneficial partnerships for growth. Individual investors can invest as little as AED 100 into any business listed on the platform. Beehive undertakes due diligence on each business listed on the platform and facilitates the finance agreements between businesses and investors, charging a small percentage fee of the finance amount.