Region’s P2P lending platform Beehive funds first SME in Bahrain

Beehive, the region’s first regulated peer-to-peer lending platform announces that it has funded its first SME in Bahrain.

The funding was granted to Bahrain-based Mira Packaging Factory, which manufactures disposable cups in addition to other food packaging solutions for the GCC, and the African F&B industry.

According to Arabian Business, the factory will be using the cash to expand its operations, and diversify its product offering.

Muneeb Rashid, Mira Packaging director of operations mentions that the high demand for their products is directly associated with their service and flexibility that’s offered to their large customer base in Bahrain, Saudi Arabia and the regional neighbouring countries. This includes international airlines, global HORECA brands and local coffee concepts.

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If you’re wondering what Beehive is, it’s a platform that was launched in 2014, that uses technology to reduce costs and time by connecting businesses directly with investors.

Craig Moore, Beehive CEO, adds: “We’re delighted to have facilitated funding for our first SME in Bahrain, which will be the first of many. Mira Packaging Factory proved their eligibility for peer-to-peer finance after Beehive’s thorough credit assessment, which determines the company’s ability to repay the loan and provide excellent returns to our global investors.”

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