SILQ Secures $75 Million Facility to Expand SME Financing

SILQ, a Saudi-based B2B commerce and fintech ecosystem, has secured a $75 million (SR 282 million) Shariah-compliant financing facility from London-based investment manager Fasanara Capital to expand its embedded finance platform, Fina.

The funding will enable Fina to provide more working capital to small and medium-sized enterprises (SMEs) by embedding financing directly into the digital platforms businesses use to source inventory, manage payments and run their day-to-day operations.

The investment comes as Saudi Arabia continues to prioritise SME growth under Vision 2030. While financing for the sector has expanded in recent years, the funding gap remains around SR 300 billion, according to the Saudi SME Bank, creating opportunities for digital lending models that integrate financing into everyday commercial activity.

SILQ said its Saudi ecosystem, which includes wholesale marketplace Sary and embedded finance platform Fina, has supported more than 50,000 businesses by connecting them to commerce, payments, digital operations and working capital. The company uses merchants' transaction and operational data to deliver financing tailored to their trading activity rather than relying on traditional lending processes.

Fasanara Capital manages approximately $6 billion (SR 22.5 billion) in assets and specialises in asset-based finance and technology-enabled private credit. The company said the partnership reflects its focus on expanding access to working capital through embedded finance.

Building on the new facility, Fina aims to unlock SR 3 billion in liquidity for more than 2,000 businesses this year, following the deployment of SR 1.5 billion over the past 12 months. To date, SILQ says it has enabled more than SR 20 billion in transaction volume across Saudi Arabia.