- Finna Secures $75 Million in Shariah-Compliant Financing
- Funding from UK-based Fasanara Capital will support SMEs across Saudi Arabia
Fina, the fintech arm of Saudi-based SILQ, has secured a $75 million (SAR 282 million) Shariah-compliant financing facility from Fasanara Capital, a London-headquartered global investment management firm.
The financing marks a significant milestone in Silq’s strategy to build a financial infrastructure that enables SMEs to access working capital directly through the same digital workflows they use for purchasing, selling, payments, and day-to-day operations.
Expanding Embedded Finance
The new facility will allow Fina to integrate working capital solutions directly into merchants’ digital operations by leveraging real-time transaction data and business activity.
This approach enables SMEs to access faster, more flexible financing tailored to their operational needs.
Through its ecosystem in Saudi Arabia, SILQ has already supported more than 50,000 businesses by providing integrated commerce, payments, digital operations, and working capital solutions.
Addressing Saudi Arabia’s SME Financing Gap
The investment comes as Saudi Arabia continues to prioritize SMEs under Vision 2030, which aims to increase the sector’s contribution to GDP and strengthen the role of the private sector in driving economic growth.
Despite steady growth in SME financing, the Kingdom still faces an estimated SAR 300 billion financing gap, according to the Saudi SME Bank, creating a significant opportunity for embedded finance models that bring capital closer to everyday business activity.
Targeting SAR 3 Billion in Financing
Mohammed AlDosari, Co-Founder and CEO of SILQ Financial, said the company has built a financing model designed around how merchants actually operate, rather than relying on traditional lending processes.
He added that the partnership with Fasanara Capital will expand access to Shariah-compliant financing embedded within digital commerce.
Matt Kuss, Partner and Head of Origination at Fasanara Capital, said the partnership reflects the firm’s commitment to supporting the evolution of embedded finance for SMEs in Saudi Arabia and improving businesses’ access to working capital through technology-driven solutions.
Strong Growth Momentum
Fina aims to provide SAR 3 billion in financing to more than 2,000 businesses during 2026, after deploying SAR 1.5 billion over the past 12 months.
Meanwhile, Silq has processed more than SAR 20 billion in transaction volume across Saudi Arabia to date.
The $75 million financing facility represents another step in Silq’s vision of building a comprehensive business infrastructure that combines commerce, payments, digital operations, and embedded Shariah-compliant finance, enabling companies to access capital more efficiently while supporting the continued growth of Saudi Arabia’s SME ecosystem.
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