Saudi fintech Fina, the fintech arm of SILQ,  secured a USD 75 million (SAR 282M) Shariah-compliant financing facility.  It received the facility from London-based investment manager Fasanara Capital. The facility will support the expansion of embedded financing solutions for small and medium-sized enterprises (SMEs) across Saudi Arabia.

Why You Should Care

Saudi Arabia’s SME sector remains one of the country’s biggest growth priorities, yet businesses continue to face limited access to working capital. By embedding financing directly into digital commerce platforms rather than offering it as a separate banking product, fintechs like Fina are reshaping how businesses access credit.

The deal reflects growing investor interest in embedded finance as the Kingdom works to close its SME financing gap. It also seeks to accelerate digital financial services under Vision 2030.

The transaction also highlights continued institutional investor confidence in Saudi fintech infrastructure, particularly solutions that combine commerce, payments, and financing within a single ecosystem.

The Details

Fina operates as the fintech arm of Saudi B2B commerce ecosystem SILQ, which also includes wholesale marketplace Sary. Together, the ecosystem has served more than 50,000 merchants by integrating commerce, payments, digital operations, and financing.

The financing facility was provided by Fasanara Capital, a global investment manager with approximately USD 6 billion in assets under management. It also has a record of investing in fintech lending and technology-enabled credit platforms.

Rather than relying solely on traditional lending assessments, Fina uses merchants’ commercial activity, transaction data, and operational insights to offer working capital within the digital workflows businesses already use to purchase inventory and manage operations.

According to SILQ, the ecosystem has facilitated more than USD 5.3 billion (SAR 20B) in transaction volume across Saudi Arabia. The company plans to deploy USD 798.8 million (SAR 3B) in financing to more than 2,000 businesses this year after distributing USD 400 million (SAR 1.5B) in working capital over the past 12 months.

“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,” said Mohammed Aldossary, Co-founder, SILQ and CEO of SILQ Financial.

The Ripple

The financing comes as Saudi Arabia continues to prioritize SME development as part of Vision 2030. Although lending to smaller businesses has increased, the country’s SME financing gap is still estimated at around SAR 300 billion, creating opportunities for alternative financing models.

The partnership also reflects a broader trend of institutional investors backing embedded finance platforms that use commercial data and digital infrastructure to improve credit access for businesses.

What to Watch

With fresh capital available, Fina’s next milestone will be scaling financing across its merchant network while increasing adoption of embedded lending in Saudi Arabia.

As more commerce platforms integrate financial services directly into their ecosystems, embedded finance is likely to become an increasingly competitive segment of the Kingdom’s fintech market. The pace at which businesses adopt these financing models could signal how quickly alternative lending becomes part of mainstream SME finance