Fina, the fintech arm of Saudi-based company SILQ, has secured a US$75 million (SAR 282M) Shariah-compliant facility from Fasanara Capital Ltd (“Fasanara”), a London-based global investment manager.
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 marks an important milestone in SILQ’s journey to build the financial infrastructure that enables small and medium-sized enterprises (SMEs) to access capital through the same digital workflows where they buy, sell, collect, and operate.
For SILQ, this marks a natural evolution of its work with merchants. Through its Saudi ecosystem, Sary and Fina have supported more than 50,000 businesses by connecting them to commerce, payments, digital operations, and working capital. Working alongside merchants across every stage of their business journey gave SILQ a unique perspective on one persistent challenge: businesses don’t simply need more capital, they need capital that’s structured around the realities of how they operate.
Fina was built to solve that challenge by embedding working capital directly into merchants’ digital workflows. Using real commercial activity, transaction data, and operational insights, Fina delivers financing that’s faster, more flexible, and aligned with the everyday rhythm of commerce.
Saudi Arabia’s SME sector is central to the Kingdom’s Vision 2030 agenda, which aims to increase SMEs’ contribution to GDP and support a more diversified private-sector economy. While SME financing continues to grow, the financing gap is still estimated at around SAR 300 billion, according to Saudi SME Bank (source: Asharq Business with Bloomberg), creating a significant opportunity for embedded financing models that bring capital closer to where business activity happens.
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 structured around the realities of how merchants operate. Fina was built to deliver financing that understands their business, moves at their speed, and fits naturally into 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 into the flow of commerce and delivered at the speed their businesses operate.”
Fasanara is a global investment manager with approximately US$6 billion (SAR 22.5B) in assets under management and 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, its partnership with Fina reflects a shared belief that SME financing is most effective when embedded into real commercial activity rather than treated as a separate financial process.
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.”
Building on the strength of its Saudi ecosystem, 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. To date, SILQ has enabled more than SAR 20 billion in transaction volume across the Kingdom.
The US$75 million (SAR 282M) facility marks another step in SILQ’s ambition to build the B2B infrastructure that enables businesses to trade more efficiently and access capital more seamlessly. By bringing Shariah-compliant working capital closer to where commerce happens, Fina continues to strengthen SILQ’s integrated ecosystem spanning commerce, payments, digital operations, and embedded finance.
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.
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 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.
