Fina Secures US$75 Million Facility to Scale SME Financing in Saudi Arabia
Saudi embedded finance platform Fina has obtained a US$75 million Shariah-compliant facility from London-based investment manager Fasanara Capital, in a move designed to expand working capital financing for small and medium-sized enterprises (SMEs) across Saudi Arabia.
The facility is intended to support embedded financing solutions that are delivered directly through merchants’ existing digital workflows. By integrating funding into everyday business operations, Fina aims to make access to capital faster and more aligned with the needs of SMEs managing inventory, payments, collections, and other day-to-day activities.
Fina operates as the financial subsidiary of SILQ, a B2B enablement and fintech ecosystem formed in 2025 through the merger of Saudi Arabia’s Sary and South Asia’s ShopUp.
Addressing Saudi Arabia’s SME Financing Gap
The announcement comes as Saudi Arabia continues to prioritise SME development under its Vision 2030 agenda, which seeks to broaden private-sector participation and diversify the economy. Although SME lending has grown, many businesses still face difficulties securing flexible and timely working capital.
According to Saudi SME Bank, the country’s SME financing gap is estimated at around SAR 300 billion. Fina says its model is designed to help narrow that gap by using real commercial activity as part of the financing process, reducing the need for separate and more cumbersome funding applications.
Mohammed Aldossary, Co-founder of SILQ and CEO of SILQ Financial, said the company has learned that the challenge for merchants is not only access to capital, but access to financing that matches how businesses actually operate.
“For years, we have worked alongside merchants as they built and grew their businesses, and one lesson became impossible to ignore: the challenge is not simply access to capital, but access to capital that is designed around the realities of how merchants operate,” Aldossary said.
He added that Fina is built to provide financing that fits within merchants’ existing digital workflows and supports their business needs.
Fasanara’s Role in the Deal
Fasanara Capital manages approximately US$6 billion in assets and focuses on asset-based finance, receivables, and technology-enabled private credit. The firm provides institutional capital to fintech lenders and digital credit platforms globally.
With the new facility, Fina plans to expand its embedded financing activity further. The company said it has deployed SAR 1.5 billion in financing over the past 12 months and expects the facility to help unlock SAR 3 billion in liquidity for more than 2,000 businesses this year.
SILQ’s Saudi ecosystem has already supported more than 50,000 businesses and facilitated over SAR 20 billion in total transaction volume to date.
Industry Analysis
The transaction highlights continued investor interest in fintech models that embed credit directly into business operations rather than relying solely on traditional lending channels. For Saudi Arabia, where SME growth remains central to economic diversification goals, such structures may help improve access to capital for merchants that need financing tied more closely to cash flow and trade activity.
It also reflects the growing role of private credit and asset-based finance in supporting digital lending platforms across emerging markets. In Saudi Arabia’s case, Shariah-compliant funding structures may further broaden the appeal of embedded finance solutions as demand for SME-focused capital continues to rise.
