• Riyadh-based Safqah Capital raised USD 15.2M in a seed round led by Shorooq to expand financing for SME real estate developers.
• The fintech/proptech platform provides Shariah-compliant debt, using data and AI to accelerate project funding, monitoring, execution, and investor transparency.
• The capital will enhance its platform, strengthen risk tools, and increase financing capacity to fund more projects across Saudi Arabia.

Safqah Capital

Riyadh-based fintech/proptech Safqah Capital raised USD 15.2 million in a seed funding round. The round was led by Shorooq, anb Seed Fund, and Rua Growth Fund. It also saw participation from Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and others. 

Co–founded by Abdullah Alsubaie, Karim Merie, Abdulmalik Alothman, and Omar Alessa, Safqah Capital is a fintech/proptech platform. It provides Shariah-compliant debt financing to small and medium-sized real estate developers.  It helps provide the liquidity developers need to move from planning to execution.

“Banks were not built for developers — we were. We’ve engineered an ecosystem where developers can access capital faster, accelerate project delivery, and improve capital efficiency while strengthening monitoring and risk controls for all stakeholders,”  said Abdullah Alsubaie, Safqah’s Co-Founder and CEO.

It is authorized by the Kingdom’s Capital Market Authority (CMA) to offer and enable investment in debt instruments.

Real Estate Financing 

The startup leverages advanced data analytics and AI to strengthen project monitoring, improve decision-making, and increase transparency. For developers, it provides a streamlined portal to manage projects and capital. For investors, it offers access to a diversified set of opportunities supported by structured underwriting and data-backed reporting.

Safqah combines real-estate underwriting, structured financing, and developer-centric software into a single platform. It is building a digital operating system for real estate development. Furthermore, it is combining funding, monitoring, documentation, and execution support into a single workflow.

Looking ahead, with the new capital, it plans to enhance its product offering and digital platform. It also aims to build more sophisticated AI tools for risk assessment and underwriting. Additionally, it seeks to expand its financing capacity to meet the demand from developers. Thus, it seeks to increase both the size and number of funded projects.