Elm renews $133M Sharia-compliant credit line with Al Rajhi Bank
What's the deal? ElmDealroom has a profile for this one. Try Dealroom →, the Saudi digital security and services firm, has renewed a Sharia-compliant credit facility with Al Rajhi Bank worth SAR 500 million (roughly $133 million). The company secured the financing on October 6, 2026, according to a bourse filing.
The terms: The facility runs for 12 months and is designed to fund working capital as needed, while also providing for bank guarantees. To secure it, Elm issued a promissory note covering the full value of the credit limit.
Why now? It describes the renewal as a way to maintain financial flexibility and support operational needs through the coming year. Elm confirmed no related parties are involved in the transaction.
The signal: At about $133 million, this debt deal sits near the top of its category — above the 92nd percentile among all-time debt rounds in Saudi Arabia's security sector. That scale underlines how large domestic lenders remain a core source of liquidity for the kingdom's established digital-services players.
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