Saudi Fintech Tarmeez Capital Raises Funds to Expand Sukuk Services

Saudi-based fintech Tarmeez Capital has secured its first institutional capital injection, marking a key milestone in the company’s efforts to scale its Sharia-compliant sukuk and debt instrument offerings. The funding aligns with stc group’s broader strategy to expand its digital finance footprint and back high-growth platforms that enhance capital accessibility in the Kingdom.

Tarmeez Capital has quickly emerged as one of the most active players in Saudi Arabia’s fintech landscape, amassing over 180,000 users and facilitating more than SR 2 billion in sukuk and digital debt financing. The company offers end-to-end digital services and claims its issuance process is seven times faster than traditional channels.

This investment comes at a pivotal time for the Kingdom’s debt markets. In 2024, Saudi Arabia’s corporate debt market grew to SAR 140 billion, while sukuk and bond issuances via CMA-licensed digital platforms rose to SR 3.5 billion - a 127.36% increase year-on-year.

With a product suite aimed at both institutional and retail investors, Tarmeez Capital has grown its sukuk issuance activity by 459% over the past year. The latest funding round is expected to help the company meet growing demand and further accelerate the digitisation of sukuk in line with Saudi Vision 2030’s capital market ambitions.