SILQ launches $133M Fina Fund to close Saudi SME financing gap
What's the deal? SILQ has launched the Fina FundDealroom has a profile for this one. Try Dealroom →, a SAR 500M (roughly $133 million) direct financing vehicle aimed at small and medium-sized businesses in Saudi Arabia. The fund is managed by Riyadh-based alternative asset manager Joa CapitalDealroom has a profile for this one. Try Dealroom → and licensed by the Saudi Capital Market Authority to provide corporate finance across the B2B ecosystem.
Why now? Saudi Arabia's SME financing gap sits at about SAR 400 billion, according to Forbes Middle East. SME lending made up 11.3% of total bank loans in 2025, against the Kingdom's target of 20% by 2030.
What's the endgame? Fina is SILQ's B2B embedded finance arm, built to bring liquidity into everyday business workflows such as procurement, supplier payments, and receivables. The fund extends capabilities first developed inside the Sary ecosystem to the wider Saudi economy, subject to eligibility criteria.
The backstory: SILQ was formed in 2025 through the merger of MENA B2B marketplace Sary and South Asian commerce platform ShopUp. Initially serving merchants within Sary, Fina has facilitated more than SAR 2 billion in trade liquidity to date.
The Fina Fund pairs that track record with Joa Capital's credit investment management. "SILQ has built a robust platform for SMEs in the Kingdom that can help predict and qualify businesses for corporate financing," said Yousef AlYousefi, Joa Capital's chief executive officer and managing partner.
What they said: "Behind every business is a merchant working hard every day to buy, sell and grow," said Mohammed Aldossary, co-founder and chief executive officer of SILQ Financial Services. "The new fund gives Fina the capacity to serve more businesses, unlock more opportunities for growth, and contribute to a healthier and more productive economy."
The signal: Embedding credit directly into commerce workflows is emerging as a route to reach borrowers that traditional banks miss. With the Kingdom pushing to lift SME lending toward its 2030 goal, capital delivered through data and platform reach — rather than balance sheets alone — is becoming central to closing the gap.
Read more: pigeons.news
Image credit: Generated with Gemini
