Reading
Lendo is an Iranian lendtech that delivers fully online, no-collateral installment loans to consumers via Bank Ayandeh, using an ML credit-scoring engine and a SHAETAB-networked loan card usable nationwide, with a parallel Teimcheh e-commerce marketplace for merchant-side distribution.
- Company typePrivate
- Founded2015
- HeadquartersTehran, Iran
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Reading does
Lendo is an Iranian lendtech and consumer-finance company headquartered in Tehran, founded in 2015 (originally as IranRenter) and operating with approximately 100 employees. The company provides fully online installment loans to individual consumers across Iran in partnership with Bank Ayandeh, which supplies the loan capital at the Central Bank-approved 23% annual interest rate over 12 monthly installments. Underwriting runs on a proprietary AI/ML credit-scoring engine with approximately 60 features and a behavioral credit score ("Nazarat-Eztebari") that rewards on-time repayment with step-wise limit increases, enabling the company to serve borrowers without checks, guarantors, income certificates or in-person visits.
Loan proceeds are disbursed as funds loaded onto a SHAETAB-networked physical card — the white card works at every POS terminal and every Shetab-connected online checkout nationwide, while the blue card is restricted to Lendo's 500+ partner online stores and the Teimcheh marketplace. The borrower journey (bank credit-validation, document upload, electronic promissory-note signing through Ayandeh-Sign, card issuance and installment repayment) is end-to-end digital and supported by an Android app distributed via Myket and Cafe Bazaar.
The business model combines four revenue streams: (1) a margin and processing fee on top of Bank Ayandeh's 23% installment interest, (2) the interest-free Hami Plan cash advance (up to 10M Toman, repaid in a single monthly installment, monetized through LendoLand loyalty-point deductions), (3) marketplace commissions from Teimcheh sellers (operated by wholly-owned subsidiary Novin Tejarat Mojri Arya), and (4) engagement-driven loyalty and referral mechanics. Geographic reach extended to 900+ cities and 73% of Iran's settlements within months of full digitization, and gross loan request volume reached 2,000 billion Tomans in a single month (Tir 1402). The company is venture-backed — investors include SmartUp, Lotus Parsian, Bonyad-e Barakat and Finova (Etebari Farda) — with Finova's investment described as the largest fintech deal in Iran to date.
Reading firmographics
Firmographics- Name
- Reading
- Legal name
- Lendo Co. (هوشمند آرمان گستر آریا)
- Website
- https://lendo.ir
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Lendo is an Iranian lendtech that delivers fully online, no-collateral installment loans to consumers via Bank Ayandeh, using an ML credit-scoring engine and a SHAETAB-networked loan card usable nationwide, with a parallel Teimcheh e-commerce marketplace for merchant-side distribution.
- Ownership category
- akta.pro rank
Reading industry classification
Industry- Product category
- Consumer Digital Lending
- NAICS
- Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Personal Credit Institutions (6141), Loan Brokers (6163)
- akta.pro primary industry
- Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
- akta.pro secondary industry
- Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)
Keywords
Where Reading is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices1 record
Markets served
Reading business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Installment Loan Interest (23%): Lendo facilitates loans financed by Bank Ayandeh at the Central Bank-approved rate of 23% annual interest on installments. Customers repay in 12 monthly installments. Lendo collects the loan principal and interest directly from customers and remits to the bank. Lendo also charges a processing fee and takes a margin on top of the bank's interest rate.
- Hami Plan (Interest-Free Cash Advance): Lendo offers an interest-free cash advance product (Hami Plan) up to 10 million Tomans, repaid in a single installment at the beginning of the following month. Revenue generated from customer loyalty points deduction in the LendoLand loyalty club. The loan amount increases step-wise for subsequent requests based on on-time repayment.
- Teimcheh Online Marketplace: Lendo launched 'Teimcheh' (Registration No. 538965), an online marketplace operated by Novin Tejarat Mojri Arya, offering a curated selection of products from partner sellers across Iran. E-commerce commission from seller transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | 50M Toman ceiling for good-credit customers |
| Subscription | Monthly | 30M Toman ceiling for other customers |
| Outcome Based/ Performance | Pay-as-you-go | Hami Plan: up to 10M Toman interest-free advance |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Reading product offering
Product offeringCore offering
Reading (Lendo) provides fully online, branchless installment purchase loans to Iranian consumers, disbursed as a SHAETAB-networked loan card usable at any POS terminal or online checkout nationwide. Loans are underwritten by a proprietary ML-based credit scoring engine, executed via electronic promissory notes, and funded by Bank Ayandeh at the Central Bank-approved 23% rate, repaid over 12 monthly installments.
Differentiator
Problem solved
Functional benefit
Brands
- Teemchi (تیمچه): An online marketplace operated by Lendo offering diverse products including digital goods, home appliances, cosmetics, and supermarket items. Registered under Novin Tejarat Mojri Arya with registration number 538965.
Products and services
- Installment Loan / Loan Card (وام کارت) SHAETAB-networked digital loan card (White variant) usable at any POS or online checkout across Iran, allowing individual consumers to buy goods and services on installments without checks, guarantors or in-person visits, underwritten by Lendo's ML credit scoring and funded by Bank Ayandeh at 23% annual interest over 12 monthly installments.
- Hami Plan (طرح حامی) – Interest-Free Emergency Cash Advance Interest-free cash advance of up to 10 million Tomans repaid in a single installment on the 1st of the following month, available to Lendo customers with an established good credit score, with the loan ceiling increasing in steps after each on-time repayment.
- Teimcheh (تیمچه) Online Marketplace Own e-commerce marketplace offering digital goods, home appliances, cosmetics, supermarket items and other products from thousands of sellers across Iran, integrated with Lendo loan-card checkout so consumers can buy on installments, generating marketplace commission revenue for Reading.
- LendoLand (لندولند) Loyalty Club Customer loyalty program where users earn points through purchases, registration, and daily missions, redeemable for Lendo loans, prize draws and discounts; also powers the economics of the Hami Plan interest-free advance by routing user value through points rather than cash interest.
Quantifiable outcome
- 6x growth in total loan disbursement amount after going fully online
- +3 more outcomes
Companies that use Reading
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Reading technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Reading partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Bank AyandehcoreBank Ayandeh is the financing bank providing loan capital. Lendo's fully online loan process was made possible in partnership with Bank Ayandeh's systems and infrastructure. The 23% interest rate follows Central Bank guidelines. The bank handles fund disbursement and the loan card operates on the SHAETAB network.
- Ayandeh-Sign (Ayandeh Bank PKI)coreElectronic signature service provider. The Ayandeh-Sign (آیندهساین) mobile app is used by Lendo customers to sign electronic promissory notes and loan contracts digitally. The app connects to the Ministry of Economic Affairs' infrastructure for identity verification.
- Myket & Cafe Bazaar (App Stores)minorLendo's Android mobile application is distributed through Iran's two dominant alternative Android app stores — Myket and Cafe Bazaar — alongside Google Play.
- Partner Online Stores (500+)minorMore than 500 online stores partner with Lendo to accept installment payments via the blue loan card. Stores include electronics, home appliances, travel, insurance, healthcare, and more.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Reading competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Reading social profiles
Digital presenceReading financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reading leadership team
Management profileNumber of profiles
Reading subsidiaries and ownership
Company hierarchySubsidiaries1 record
Reading funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reading M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reading
What does Reading do?
Reading (Lendo) provides fully online, branchless installment purchase loans to Iranian consumers, disbursed as a SHAETAB-networked loan card usable at any POS terminal or online checkout nationwide. Loans are underwritten by a proprietary ML-based credit scoring engine, executed via electronic promissory notes, and funded by Bank Ayandeh at the Central Bank-approved 23% rate, repaid over 12 monthly installments.
Is Reading a public or private company?
Reading is a private company. It is classified as venture growth investor backed and is currently operating.
When was Reading founded?
Reading was founded in 2015. It employs 101 to 250 people.
Where is Reading based?
Reading is headquartered in Tehran, Iran, in the Middle East region.
How does Reading make money?
Three revenue lines are on record. Installment Loan Interest (23%) is the primary driver. The others are hami Plan (Interest-Free Cash Advance) and teimcheh Online Marketplace.
Does Reading have an API?
No public API is recorded for Reading.
What industry is Reading in?
Reading's product category is Consumer Digital Lending. Its primary akta.pro industry code is FSAKAAAK, Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment), with a secondary code of FSAKAAAH, Emergency & Short-Term Installment Personal Loans (Unsecured). Its NAICS code is 5222 and its SIC code is 6141.