Saudi fintech Fina, the embedded finance platform of SILQ, has secured a US$75 million (SAR 282 million) Shariah-compliant financing facility from Fasanara Capital, a London-based global investment manager overseeing approximately US$6 billion in assets under management. The facility represents a significant milestone in Fina’s mission to reshape how small and medium-sized enterprises (SMEs) in Saudi Arabia access working capital by embedding financing directly into their everyday business operations.
The financing comes at a time when Saudi Arabia is accelerating efforts under Vision 2030 to strengthen its SME sector, which is expected to become a key driver of economic diversification. Despite significant progress, the Kingdom’s SME financing gap is still estimated at around SAR 300 billion, creating a substantial opportunity for innovative financing models that move beyond traditional lending.
Embedding Finance Into Everyday Commerce
Unlike conventional lenders, Fina integrates working capital directly into the digital platforms merchants already use to buy inventory, receive payments, manage operations, and conduct day-to-day business. Rather than relying solely on traditional credit assessments, the platform leverages real-time commercial activity, transaction history, and operational data to deliver financing that reflects how businesses actually operate.
The approach builds on SILQ’s broader ecosystem, which was formed through the merger of Saudi B2B marketplace Sary and South Asia’s ShopUp. Together, the ecosystem has already supported more than 50,000 businesses, enabling over SAR 20 billion in transaction volume across Saudi Arabia. Through this close relationship with merchants, SILQ identified that many SMEs were not simply struggling to obtain financing—they needed financing that aligned with the timing and realities of their cash flows.
According to Mohammed Aldossary, Co-founder of SILQ and CEO of SILQ Financial, Fina was created to solve precisely that challenge by providing Shariah-compliant working capital that is delivered within merchants’ existing digital workflows. He described the partnership with Fasanara Capital as an important milestone that will help expand access to financing designed around the speed and rhythm of modern commerce.
Targeting SAR 3 Billion in SME Liquidity
The new facility will significantly increase Fina’s lending capacity as the company targets unlocking SAR 3 billion in liquidity for more than 2,000 businesses during the coming year. This follows the successful deployment of approximately SAR 1.5 billion in financing over the previous twelve months, demonstrating growing demand for embedded finance solutions among Saudi SMEs.
For Fasanara Capital, the partnership represents another investment in technology-enabled lending platforms that use data to improve credit access. The investment firm has become one of the world’s leading institutional investors in fintech lending, with integrations across 141 fintech lenders in more than 60 countries. Its expertise in asset-based finance and data-driven private credit aligns closely with Fina’s embedded financing model.
Matt Kus, Partner and Head of Origination at Fasanara Capital, said the firm believes technology-enabled platforms such as Fina can play an important role in making working capital more accessible, efficient, and flexible for SMEs while supporting the continued evolution of embedded finance in Saudi Arabia.
Supporting Vision 2030 Through Fintech Innovation
The transaction highlights the rapid evolution of Saudi Arabia’s fintech ecosystem, where embedded finance is emerging as one of the fastest-growing segments. Instead of treating financing as a separate banking service, embedded finance integrates capital directly into commercial transactions, allowing businesses to access liquidity exactly when and where it is needed.
For Saudi Arabia, this model supports broader Vision 2030 objectives by helping SMEs improve cash flow, expand operations, and contribute more significantly to the Kingdom’s private-sector economy. As digital commerce continues to accelerate, financing embedded within business workflows is expected to play an increasingly important role in closing the country’s SME funding gap.
With fresh institutional backing from one of Europe’s largest fintech-focused investment managers, Fina is positioning itself as a key player in Saudi Arabia’s digital financial infrastructure. By combining B2B commerce, payments, digital operations, and Shariah-compliant embedded finance within a single ecosystem, SILQ is building a platform designed to help merchants not only trade more efficiently but also access the capital they need to grow.
