Fina, the fintech arm of Saudi-based company SILQ, has secured a US$75 million (SAR 282M) Shariah-compliant facility from Fasanara Capital, a London-based global investment manager.
The facility marks an important milestone in SILQ’s journey to build the financial infrastructure that enables small and medium-sized enterprises (SMEs) to access capital through the same digital workflows where they buy, sell, collect, and operate.
For SILQ, this marks a natural evolution of its work with merchants. Through its Saudi ecosystem, Sary and Fina have supported more than 50,000 businesses by connecting them to commerce, payments, digital operations, and working capital. Working alongside merchants across every stage of their business journey gave SILQ a unique perspective on one persistent challenge: businesses don’t simply need more capital, they need capital that’s structured around the realities of how they operate.
Fina was built to solve that challenge by embedding working capital directly into merchants’ digital workflows. Using real commercial activity, transaction data, and operational insights, Fina delivers financing that’s faster, more flexible, and aligned with the everyday rhythm of commerce.
Saudi Arabia’s SME sector is central to the Kingdom’s Vision 2030 agenda, which aims to increase SMEs’ contribution to GDP and support a more diversified private-sector economy. While SME financing continues to grow, the financing gap is still estimated at around SAR 300 billion, according to Saudi SME Bank (source: Asharq Business with Bloomberg), creating a significant opportunity for embedded financing models that bring capital closer to where business activity happens.
Mohammed Aldossary, Co-founder, SILQ and CEO of SILQ Financial, commented: “For years, we’ve worked alongside merchants as they built and grew their businesses, and one lesson became impossible to ignore: the challenge isn’t simply access to capital, but access to capital that’s structured around the realities of how merchants operate. Fina was built to deliver financing that understands their business, moves at their speed, and fits naturally into the digital workflows they already use. Our partnership with Fasanara marks an important milestone in that journey. Their deep expertise in embedded finance makes them the right long-term partner to help more Saudi businesses access Shariah-compliant working capital that’s embedded into the flow of commerce and delivered at the speed their businesses operate.”
Fasanara is a global investment manager with approximately US$6 billion (SAR 22.5B) in assets under management and an active provider of institutional capital to fintech lenders and technology-enabled credit platforms globally. With a focus on asset-based finance, receivables, and data-driven private credit, its partnership with Fina reflects a shared belief that SME financing is most effective when embedded into real commercial activity rather than treated as a separate financial process.
Matt Kus, Partner and Head of Origination, Fasanara Capital, commented: “We are pleased to partner with Fina and support the continued development of embedded SME financing in Saudi Arabia. Access to working capital remains a critical priority for SMEs globally, and we believe technology-enabled platforms such as Fina can play an important role in helping merchants access financing in a more efficient and flexible way.”
Building on the strength of its Saudi ecosystem, Fina is targeting the unlocking of SAR 3 billion in liquidity this year for more than 2,000 businesses, following the successful deployment of SAR 1.5 billion over the last 12 months. To date, SILQ has enabled more than SAR 20 billion in transaction volume across the Kingdom.
The US$75 million facility marks another step in SILQ’s ambition to build the B2B infrastructure that enables businesses to trade more efficiently and access capital more seamlessly. By bringing Shariah-compliant working capital closer to where commerce happens, Fina continues to strengthen SILQ’s integrated ecosystem spanning commerce, payments, digital operations, and embedded finance.
