Riyadh, Saudi Arabia, Fina, SILQ’s B2B embedded finance business, today announced the launch of its embedded finance capabilities with the Fina Fund, a direct financing fund managed by Joa Capital, an established alternative asset manager based in Riyadh. With a target fund size of SAR 500M, Fina Fund is licensed by the Saudi Capital Market Authority to provide corporate finance solutions to the wider B2B ecosystem in Saudi Arabia.
A Significant Financing Gap Remains
Saudi Arabia has made significant progress in SME financing, yet a significant gap remains. According to Forbes Middle East, SME financing gap is estimated at approximately SAR 400 billion, while SME financing accounted for 11.3% of total bank loans in 2025, compared with the Kingdom’s 20% target by 2030.
Closing the financing gap requires more than additional capital. Businesses need simpler, more efficient ways to access liquidity. Fina brings liquidity into everyday business workflows, closer to where businesses operate and transact, reducing the cost to serve and making access to capital more efficient and scalable.
From Frictionless Commerce to Embedded Liquidity
SILQ’s journey in Saudi Arabia began with the ambitious mission of Sary to make B2B commerce frictionless, transforming how merchants source and purchase inventory.
Along that journey, one friction stood out: liquidity.
Following the merger of Sary and ShopUp to form SILQ, addressing that challenge became a central part of the ambition: building a dedicated embedded financing capability for businesses. Initially built to serve businesses within the Sary ecosystem, Fina has since facilitated more than SAR 2 billion in trade liquidity, building technology, data and operational capabilities around merchants’ working-capital needs.
The fund marks the next step: bringing these capabilities and learnings to the wider Saudi B2B economy through corporate finance solutions across procurement, supplier payments, receivables and other business workflows, subject to the Fund’s eligibility criteria and applicable terms.
Mohammed Aldossary, Co-founder and CEO, SILQ, Financial Services said: “Behind every business is a merchant working hard every day to buy, sell and grow. Our focus is to bring liquidity closer to that workflow, making access simpler and more connected to how businesses actually operate. 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.”
Partnership with Joa Capital
The partnership combines Joa Capital’s credit investment management capabilities with Fina’s technology, data and connectivity across B2B commerce.
Yousef AlYousefi, Joa Capital’s CEO and Managing Partner said: “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. Our financing capabilities will support SILQ’s mission to support their network through a scalable, compliant and well governed financing vehicle, supporting the sustainability of their merchants and long term growth of the economy.”
