Fina, the embedded finance platform of Saudi B2B ecosystem SILQ, has secured a significant $75 million Shariah-compliant facility. The funding comes from Fasanara Capital, a London-based global investment manager. This capital injection is set to bolster Fina's capacity to provide integrated financing solutions for small and medium-sized enterprises (SMEs) across Saudi Arabia.
Addressing the SME Financing Gap
This development aligns with Saudi Arabia's Vision 2030, which prioritizes increasing the SME sector's contribution to the national GDP. Despite ongoing growth in lending, a substantial financing gap estimated at SAR 300 billion continues to challenge these businesses. Fina's embedded financing model is positioned to directly address this shortfall by making capital more accessible.
A New Model for Embedded Finance
Fina's innovative approach embeds working capital directly into the digital workflows merchants use daily for buying, selling, and operating. By leveraging real commercial activity and transaction data, the platform delivers financing that is faster and more flexible than traditional methods. This model ensures that capital is aligned with the natural rhythm of commerce.
The platform's strategy is informed by SILQ's extensive experience supporting over 50,000 businesses with commerce, payments, and digital operations. This deep engagement revealed that SMEs need capital structured around the realities of their operations, not just increased access to funds. Fina was specifically created to solve this persistent challenge within the ecosystem.
Strategic Partnership and Future Goals
Mohammed Aldossary, Co-founder of SILQ, stated that the partnership with Fasanara is a crucial milestone in their journey. He emphasized that Fina was built to provide financing that understands the unique nature of each merchant's business. This collaboration will expand the availability of Shariah-compliant working capital within the digital commerce landscape.
Fasanara Capital echoed this sentiment, with Partner Matt Kus expressing enthusiasm for supporting the growth of embedded SME financing in the Kingdom. He noted that technology-enabled platforms like Fina play a vital role in helping merchants access working capital more efficiently. The partnership reflects a shared belief in data-driven private credit solutions.
With this new facility, Fina has set ambitious goals, targeting the deployment of SAR 3 billion in liquidity to over 2,000 businesses this year. This plan builds on its recent success, having already deployed SAR 1.5 billion over the last 12 months. To date, the broader SILQ ecosystem has enabled over SAR 20 billion in transaction volume.
The $75 million facility represents a significant advancement in SILQ's mission to build a comprehensive B2B financial infrastructure in Saudi Arabia. By integrating Shariah-compliant capital directly into the flow of commerce, Fina is not only empowering SMEs but also contributing to the Kingdom's economic diversification. This strategic move strengthens the connection between commerce, payments, and finance for businesses across the region.