Saudi Fintech Forus Secures $60 Million Debt Facility from Fasanara to Power SME Growth in Saudi Arabia

Saudi Fintech Forus Secures $60 Million Debt Facility from Fasanara to Power SME Growth in Saudi Arabia

Riyadh, 30 January 2025 – Forus, one of Saudi’s leading debt crowdlending platforms specialising in working capital solutions for SMEs, has secured a $60 million securitization debt facility from Fasanara Capital Ltd (“Fasanara”), a London-based investment manager with over $4.5 billion in assets under management. This funding will enable Forus to scale towards becoming one of the largest non-bank providers of debt financing to SMEs in Saudi Arabia.

Founded in 2019, with lending operations kicking off in 2020 following the receipt of one of the first debt crowdfunding licenses issued by the Saudi Arabian Monetary Authority (SAMA), Forus has already provided funding for more than $390 million in working capital to over 400 Saudi SMEs. As of Q2 2024, there are more than 1.5 million SMEs active in Saudi Arabia, accounting for 99.5% of all companies and providing jobs to more than 6.5 million people.

“At Forus, we are deeply committed to empowering Saudi SMEs by addressing their funding challenges through innovative, tech-driven solutions. Securing this $60 million facility from Fasanara is a significant milestone in our journey to become a leading non-bank lender to SMEs in the Kingdom. This partnership reflects our shared vision of fostering economic growth and aligns with Saudi Vision 2030’s goal of enhancing SMEs’ contributions to GDP. By leveraging this facility, we aim to provide rapid, reliable, and accessible working capital to even more SMEs, ensuring they have the resources they need to thrive and scale in today’s dynamic market.”

– Nosaibah Alrajhi, Founder and CEO of Forus

“We are excited to have the chance to support the Saudi SME ecosystem through this funding partnership with Forus, a leading fintech SME lender in the Kingdom. As a firm, Fasanara is committed to supporting SMEs globally and is proud to have funded more than $80 billion over the last 14 years to local lenders across 60+ countries, leveraging a tech-driven approach to risk management and monitoring. Forus’ tech-enabled approach to SME lending aligns with our strategy. We are confident that our partnership with Forus will enable them to effectively scale their portfolio to provide much needed working capital to the SMEs which are the future of the Saudi economy”.

– Francesco Filia, Founder and CEO of Fasanara Capital

Leveraging its proprietary, purpose-built tech infrastructure, Forus underwrites and pays out invoice finance and working capital loans to SME borrowers in a matter of days, ensuring they have the capital they need to continue scaling their business operations and aren’t held back by funding constraints. Forus’ founder and CEO, Nosaibah Alrajhi, an accomplished investor and fintech entrepreneur, established the platform with a clear vision to fuel SME growth while eliminating the funding challenges they often face. Forus’ mission is directly aligned with Saudi Vision 2030, which aims to increase SMEs’ contribution to the Kingdom’s GDP from 20% to 35% by 2030.

Fasanara, a London-based alternative credit specialist, has funded over $80 billion to fintech lenders in more than 60 countries over the last 14 years, positioning itself as one of the most active fintech debt funding providers globally. The $60 million debt facility provided to Forus is envisaged to enable the company to provide more than $150 million in working capital loans to hundreds of Saudi SME borrowers.

About Forus

Founded in 2019, Forus is a pioneering debt investment marketplace, registered and authorized by the Saudi Arabian Monetary Authority (SAMA). Under the visionary leadership of CEO & Founder Nosaibah Alrajhi, Forus is committed to bridging the financing gap for micro, small and medium-sized enterprises (MSMEs) in the Kingdom of Saudi Arabia. By providing seamless access to flexible and readily available business loans, Forus empowers SMEs to achieve their growth ambitions.

With a thriving community of over 40,000 registered investors and 3,500 registered MSME’s, Forus streamlines the borrowing process by making it more efficient and accessible, as well as offers investors a diverse range of investment opportunities tailored to different risk profiles. Investors can strategically allocate their capital across various sectors and industries, aligning with their financial goals and risk appetite. Through its innovative platform, Forus continues to drive economic growth and financial inclusion in the region.

About Fasanara

Fasanara is an institutional investment manager that offers tech-enabled asset-based credit and digital assets solutions. Founded in 2011, Fasanara currently manages c. $4.5 billion in assets under management, and is focused on delivering uncorrelated returns through a technology-centric and systematic investment approach. Fasanara manages capital on behalf of pension funds and insurance companies in Europe and North America, and a mandate from the European Investment Fund (EIF).

With c. 110 employees globally, Fasanara is a pioneer investor in Fintech Lending through their liquid Alternative Credit funds, enabling Real Economy Impact. Powered by their technology platform with 142 fintech lenders fully integrated from over 60 countries, Fasanara manages the largest and longest standing Fintech Lending fund in Europe.

Additionally, Fasanara invests in early-stage Fintech companies through their venture capital vehicles, using their central role in the ecosystem to identify revolutionary new businesses. For more information, please visit www.fasanara.com.

Investor Inquiries INVESTORS@fasanara.com

Press Inquiries

Forus marketing@forusinvest.com

Fasanara fasanara@peregrinecommunications.com

Source: Fasanara Capital

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