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Avana expands into Saudi Arabia with new services

MANAMA, September 22, 2021

Avana Companies, a leading ESG lending and investment platform, has announced its expansion into Saudi Arabia, providing financial services to businesses and individuals through its subsidiary Ezdaher.

Under the Ezdaher brand, Avana will provide its new small business lending platform, LendThrive, as well as an alternative investment marketplace for individual investors called EqualSeat. Avana Companies has had its GCC regional headquarters in Bahrain for the last 13 years with additional offices in India and the Philippines.

The company recently added five new staff members and has leased additional office space in Bahrain with plans to hire at least 12 new people between Bahrain and KSA in the next 6-12 months.

"Avana Companies is pleased to continue our global expansion with a mission to provide ESG lending and investment opportunities to those in the Middle East, as well as new market products and services," said Sundip Patel, CEO of Avana Companies.

Patel spends half of his time in Bahrain and will oversee the expansion in the area along with Chief Commercial Officer, Andris Rozenbahs. Rozenbahs is based in Bahrain and brings a wealth of knowledge and more than 10 years of experience in the FinTech start-up environment, having previously founded several companies in the space.

"I am very excited to be a leader in the growth of Avana Companies in Saudi Arabia and Bahrain and look forward to helping launch Ezdaher's LendThrive and EqualSeat as a standout FinTech product with an underlying mission and commitment to build stronger communities in this region," said Rozenbahs.

Rozenbahs will oversee the two Ezdaher units, LendThrive and EqualSeat, to ensure they follow Avana's mission to be ESG (Environmental, Social and Governance) focused FinTech platforms that make positive contributions towards social and environmental impact.  

LendThrive, a new online lending platform designed to help small businesses, that meet ESG standards, supports business owners through its Rate Reduction Rewards Program and helps them thrive while stimulating local economies. LendThrive focuses on underserved companies in industries such as hospitality, construction, and renewable energy.

EqualSeat, which began beta testing in 2021, is an investment marketplace with ESG investing opportunities that provides individual investors fractional access to institutional-quality commercial debt investments.  – TradeArabia News Service




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