Fina Launches $133 Million Fund to Finance Saudi SMEs

Fina, the B2B embedded finance business of SILQ, has launched the Fina Fund with a target size of $133 million to provide corporate financing solutions across Saudi Arabia.

The fund is managed by Riyadh-based Joa Capital and licensed by the Capital Market Authority. It is designed to expand Fina’s financing capabilities beyond SILQ’s existing commerce network and into the wider B2B economy.

SILQ was formed through the merger of Sary and ShopUp, with Fina initially developed to embed financing into Sary’s procurement and trade platform. The business has since facilitated more than SR 2 billion in trade liquidity.

Fina’s financing products cover procurement, supplier payments and receivables, with the new fund intended to support more businesses subject to eligibility and applicable terms.

The launch comes against an estimated SME financing gap of around SR 400 billion. SME financing represented 11.3% of total bank lending in 2025, compared with a national target of 20% by 2030.