Jordan’s Solfeh raises a round of $400,000 seed to provide same-day microloans to salaried employees
Solfeh, a FinTech micro-lending platform that operates in the secured consumer lending space based out of Amman, Jordan has raised a seed round led by Edgo VC in addition to other several VCs and angel investors in the region, with Société General as its primary funding partner and is part of Beyond Capital’s network.
Solfeh is a micro-lending platform, that provides same-day emergency cash advancements to salaried employees, in partnership with their employers that allow the installment amounts to be deducted directly from their salaries.
The primary capital raise will allow Solfeh to expand its services beyond Jordan into regional markets, as well as expand its product offering to the private sector. Solfeh has extended more than 3000 loans over the past 18 months and has partnered up with more than 60 employers to offer its services.