London/Riyadh – Fina, the embedded finance platform of Saudi-based B2B enablement and fintech ecosystem SILQ, has secured a US$75 million (SAR 282M) Shariah-compliant facility from Fasanara Capital Ltd (“Fasanara”), a London-based global investment manager with approximately US$6 billion (SAR 22.5B) in assets under management.
The facility will support Fina’s continued growth of embedded working capital solutions for small and medium-sized enterprises (SMEs) across the Kingdom of Saudi Arabia, helping merchants access financing through their daily digital workflows where they buy, sell, collect, and operate.
Fina forms part of the broader SILQ ecosystem, which was created through the merger of Sary in Saudi Arabia and ShopUp in South Asia. In Saudi Arabia, SILQ brings together B2B capabilities across commerce, payments, digital operations and working capital through an integrated ecosystem designed to support merchants throughout their business journey and improve access to liquidity.
Saudi Arabia’s SME sector continues to play a central role in the Kingdom’s economic development and Vision 2030 agenda, which aims to increase the contribution of SMEs to GDP and support a more diversified, private-sector-led economy. While SME financing in the Kingdom has continued to grow, many businesses continue to face challenges accessing flexible, timely and appropriately structured working capital, with the financing gap estimated at around SAR 300 billion, according to Saudi SME Bank (source: Asharq Business with Bloomberg).
Having supported hundreds of thousands of merchants across its commerce ecosystem, SILQ identified access to timely working capital as one of the most persistent barriers to SME growth. Fina was created as a natural extension of that experience, embedding financing directly into merchants’ existing digital workflows so businesses can access capital in the context of their everyday operations rather than through separate financing processes.
Mohammed Aldossary, Co-founder, SILQ and CEO of SILQ Financial, said:
“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 designed around the realities of how merchants operate. Fina was built to deliver financing that understands their business, moves at their speed, and is embedded within the digital workflows they already use.
Our partnership with Fasanara marks an important milestone in that journey. Their deep expertise in embedded finance makes them the right long-term partner to help more Saudi businesses access Shariah-compliant working capital that’s embedded directly into commerce and delivered at the speed their businesses move.”
To date, the SILQ Saudi ecosystem has supported more than 50,000 businesses and enabled more than SAR 20 billion in total transaction volume. Building on this foundation, Fina is targeting the unlocking of SAR 3 billion in liquidity this year for more than 2,000 businesses, following the successful deployment of SAR 1.5 billion over the last 12 months.
Fasanara is an active provider of institutional capital to fintech lenders and technology-enabled credit platforms globally, with a focus on asset-based finance, receivables and data-driven private credit. The partnership with Fina reflects Fasanara’s continued focus on supporting originators that provide financing to real-economy businesses through scalable, technology-enabled models.
Matt Kus, Partner and Head of Origination at Fasanara Capital, said:
“We are pleased to partner with Fina and support the continued development of embedded SME financing in Saudi Arabia. Access to working capital remains a critical priority for SMEs globally, and we believe technology-enabled platforms such as Fina can play an important role in helping merchants access financing in a more efficient and flexible way.”
The US$75 million (SAR 282M) facility will support the continued growth of Fina’s embedded working capital portfolio, enabling more Saudi merchants to access Shariah-compliant financing that is seamlessly integrated into their day-to-day workflows, delivered at the speed their businesses operate, and built around real commercial activity rather than traditional lending processes.
About Fasanara Capital
Founded in 2011, Fasanara is a global investment manager that offers tech-enabled asset-based credit and digital assets solutions. With $6 billion (SAR 22.5B) in assets under management, Fasanara employs a technology-driven, systematic investment approach and manages capital on behalf of pension funds, insurance companies and other institutional investors globally.
With 130 employees globally, Fasanara is a pioneer investor in fintech lending through its liquid Alternative Credit funds, enabling real economy impact. Powered by its proprietary technology platform, with 141 fintech lenders fully integrated from more than 60 countries, Fasanara manages one of the largest and longest-standing fintech lending funds in Europe. Fasanara Capital is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
About SILQ
SILQ is a B2B e-commerce enabler and fintech ecosystem serving merchants across Saudi Arabia and South Asia. Formed through the merger of Sary in Saudi Arabia and ShopUp in South Asia, SILQ connects businesses to inventory, payments, digital operations and working capital through an integrated platform designed to help SMEs operate more efficiently and grow with confidence.
In Saudi Arabia, SILQ’s ecosystem includes Sary and Fina, combining B2B commerce enablement with embedded financial solutions. Through Fina, SILQ provides Shariah-compliant working capital products that help merchants unlock liquidity, manage cash flow and access financing through the platforms and workflows they already use.
