Key Takeaways
- • SILQ secures $75 million Shariah-compliant debt facility from London-based Fasanara Capital for its embedded finance product Fina, targeting Saudi Arabian small business lending.
- • Fina has already reached over 50,000 businesses in Saudi Arabia with SAR 20 billion ($5.33 billion) in total transaction volume, and plans to deploy SAR 3 billion ($800 million) in liquidity to 2,000 local businesses this year.
- • This debt line follows SILQ's $20 million credit facility from Gemcorp Capital announced earlier in July 2026, expanding the fintech holding company's working capital lending capacity.
- • SILQ is the combined operations of Saudi B2B marketplace Sary and Bangladesh e-commerce platform ShopUp, merged in April 2025 with $110 million in equity and debt backing from Sanabil Investments and Valar Ventures.
- • Fasanara Capital has established significant momentum in Saudi fintech lending, having deployed $60 million for crowdlending platform Forus in early 2025 and holding a government agreement with the Saudi Ministry of Investment to scale fintech-enabled lending to SAR 3 billion.
Summary
SILQ, the fintech holding company formed through the April 2025 merger of Saudi B2B marketplace Sary and Bangladesh e-commerce platform ShopUp, has secured $75 million in Shariah-compliant debt financing from Fasanara Capital. The facility will support Fina, SILQ's embedded finance product, in expanding working capital lending to small and medium-sized enterprises across Saudi Arabia. This represents a significant capital injection for the region's SME lending ecosystem, which faces persistent working capital constraints.
The debt capital will enable Fina to deploy approximately SAR 3 billion (nearly $800 million) in liquidity to approximately 2,000 local businesses during 2026. The embedded finance platform has demonstrated substantial traction since its inception, having reached over 50,000 businesses in Saudi Arabia while facilitating SAR 20 billion ($5.33 billion) in total transaction volume. Over the preceding 12 months, Fina deployed SAR 1.5 billion (approximately $399 million), indicating accelerating deployment rates.
The Fasanara facility arrives as SILQ builds momentum in its debt capital raising strategy, following a $20 million credit line agreement with Gemcorp Capital announced earlier in July 2026. Together, these facilities provide SILQ with approximately $95 million in new debt capital within weeks, reflecting institutional confidence in the embedded finance provider's business model and execution capabilities.
Fasanara Capital has positioned itself as a strategic partner in Saudi Arabia's fintech lending expansion. The London-based investment firm entered the Saudi market in early 2025 with a $60 million securitization facility for peer-to-peer crowdlending platform Forus. Fasanara subsequently signed an agreement with Saudi Arabia's Ministry of Investment to scale fintech-enabled lending initiatives to SAR 3 billion ($799 million), establishing the firm as a key infrastructure provider for the Kingdom's SME credit market. Fasanara's embedded finance portfolio extends across multiple jurisdictions, including operations through Credit Flex (UK-based Tide), Czech Republic-based FlowPay, Lithuanian SME Finance, and Zurich-based lender Teylor.
The debt capital will enable Fina to deploy approximately SAR 3 billion (nearly $800 million) in liquidity to approximately 2,000 local businesses during 2026. The embedded finance platform has demonstrated substantial traction since its inception, having reached over 50,000 businesses in Saudi Arabia while facilitating SAR 20 billion ($5.33 billion) in total transaction volume. Over the preceding 12 months, Fina deployed SAR 1.5 billion (approximately $399 million), indicating accelerating deployment rates.
The Fasanara facility arrives as SILQ builds momentum in its debt capital raising strategy, following a $20 million credit line agreement with Gemcorp Capital announced earlier in July 2026. Together, these facilities provide SILQ with approximately $95 million in new debt capital within weeks, reflecting institutional confidence in the embedded finance provider's business model and execution capabilities.
Fasanara Capital has positioned itself as a strategic partner in Saudi Arabia's fintech lending expansion. The London-based investment firm entered the Saudi market in early 2025 with a $60 million securitization facility for peer-to-peer crowdlending platform Forus. Fasanara subsequently signed an agreement with Saudi Arabia's Ministry of Investment to scale fintech-enabled lending initiatives to SAR 3 billion ($799 million), establishing the firm as a key infrastructure provider for the Kingdom's SME credit market. Fasanara's embedded finance portfolio extends across multiple jurisdictions, including operations through Credit Flex (UK-based Tide), Czech Republic-based FlowPay, Lithuanian SME Finance, and Zurich-based lender Teylor.
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