London/Riyadh: Fina, the embedded finance platform of Saudi-based B2B enablement and fintech ecosystem SILQ, has secured a US$75 million (SAR 282 million) Shariah-compliant financing facility from London-based global investment manager Fasanara Capital Ltd, which manages approximately US$6 billion (SAR 22.5 billion) in assets. The financing will support Fina’s expansion of embedded working capital solutions for small and medium-sized enterprises (SMEs) across Saudi Arabia.
The facility will enable Fina to provide Shariah-compliant financing directly within merchants’ everyday digital workflows, allowing businesses to access working capital while managing purchasing, sales, collections, and other operational activities. By embedding financing into existing business processes, Fina aims to simplify access to liquidity and eliminate the need for separate financing procedures.
Fina is part of the broader SILQ ecosystem, formed through the merger of Saudi Arabia’s Sary and South Asia’s ShopUp. In Saudi Arabia, SILQ integrates commerce, payments, digital operations, and working capital solutions into a single platform designed to support merchants throughout their business journey and improve access to finance.
The investment comes as Saudi Arabia continues to strengthen its SME sector under the Kingdom’s Vision 2030 strategy. While financing for SMEs has grown steadily, many businesses still struggle to obtain flexible and timely working capital. According to the Saudi SME Bank, the financing gap for SMEs in the Kingdom is estimated at around SAR 300 billion.
Having supported more than 50,000 businesses and facilitated over SAR 20 billion in transaction volume, SILQ identified limited access to working capital as one of the biggest barriers to SME growth. In response, Fina was established to provide financing that is integrated into merchants’ daily business activities, enabling faster and more convenient access to capital.
Mohammed Aldossary, Co-founder of SILQ and CEO of SILQ Financial, said the company’s experience working with merchants showed that businesses require financing solutions designed around the realities of their operations. He noted that Fina was created to deliver financing that understands merchants’ needs, operates at the speed of business, and integrates seamlessly into the digital platforms they already use. He added that the partnership with Fasanara marks an important milestone in expanding access to Shariah-compliant embedded finance for Saudi businesses.
Building on its existing platform, Fina plans to unlock SAR 3 billion in liquidity for more than 2,000 businesses during the current year, following the successful deployment of SAR 1.5 billion in financing over the past twelve months.
Fasanara Capital is an active institutional investor in fintech lenders and technology-enabled credit platforms, specializing in asset-based finance, receivables, and data-driven private credit. The partnership reflects the firm’s continued focus on supporting innovative financing platforms that provide capital to real-economy businesses through scalable technology.
Matt Kus, Partner and Head of Origination at Fasanara Capital, said the firm is pleased to partner with Fina to support the continued development of embedded SME financing in Saudi Arabia. He emphasized that technology-enabled platforms can play a significant role in providing SMEs with more efficient, flexible, and accessible working capital solutions.
The US$75 million Shariah-compliant facility is expected to accelerate the growth of Fina’s embedded working capital portfolio, enabling more Saudi merchants to access financing that is seamlessly integrated into their day-to-day commercial activities and structured around genuine business transactions in accordance with Shariah principles.