Saudi Arabia’s Fina launches SME financing fund
Fina, the embedded finance business of Saudi B2B e-commerce provider SILQ, has launched a direct SME financing fund targeting the wider B2B ecosystem in the Kingdom.
The Fina Fund has a target size of SAR500m (£99m) and will be managed by Joa Capital, a private markets investment manager, headquartered in Riyadh, which also offers private credit solutions.
The partnership combines Joa Capital’s credit investment management capabilities with Fina’s technology, data and connectivity across B2B commerce.
“SILQ has built a robust platform for SMEs in the Kingdom that can help predict and qualify businesses for corporate financing for day-to-day operations or scale,” commented Yousef AlYousefi, Joa Capital’s chief executive and managing partner.
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The fund is licensed by the Saudi Capital Market Authority and aims to address the SME financing gap in the country. The Kingdom has set a 20 per cent target, by 2030, for all bank loans to be supporting SMEs.
Fina, however, says that closing the SME financing gap requires more than additional capital. “Businesses need simpler, more efficient ways to access liquidity.”
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Since its inception in 2025, Fina has facilitated more than SAR2bn in trade liquidity, building technology, data and operational capabilities around merchants’ working-capital needs. It aims to bring liquidity closer to where businesses operate, while scaling capital and reducing the servicing costs.
“The new fund gives Fina the capacity to serve more businesses, unlock more opportunities for growth, and contribute to a healthier and more productive economy,” said Mohammed Aldossary, co-founder and chief executive of SILQ financial services.
