SILQ, a Saudi B2B commerce and fintech platform, has successfully secured a $20 million Shariah-compliant structured financing facility from Gemcorp Capital. This funding aims to enhance SILQ's embedded financial services for small and medium-sized enterprises (SMEs) in Saudi Arabia, a sector that has been increasingly seeking alternative financing solutions. The financing will be channeled through Fina, SILQ's embedded finance platform, which integrates financial products such as invoice financing and trade finance directly into the operational framework of SMEs, thereby facilitating easier access to capital without the need for traditional funding routes.
The company, which emerged from the merger of Sary and ShopUp, currently serves over 50,000 businesses in the Kingdom, leveraging its dual platforms—Sary for procurement and Fina for financial services. In 2026, SILQ reported enabling more than SAR 10 billion in B2B commerce, underscoring its significant role in the Saudi market. The recent financing is poised to further reduce barriers for SMEs, a critical segment of the economy that often struggles with access to financial resources.
For Gemcorp Capital, this investment marks a series of firsts: its inaugural direct lending transaction, its first Shariah-compliant financing structure, and its first mezzanine financing facility in Saudi Arabia. The asset manager has collaborated closely with SILQ to design a financing solution that aligns with the company's long-term vision of expanding embedded financial services across the Kingdom and the broader GCC region. This initiative is in line with Saudi Arabia's Vision 2030, which aims to foster financial inclusion and support the growth of SMEs as a vital component of economic diversification.
As demand for alternative financing options continues to rise among SMEs, SILQ's innovative approach positions it well within the competitive landscape of Saudi fintech. The integration of financial services into everyday business operations not only enhances operational efficiency for SMEs but also reflects a broader trend towards embedded finance in the region, which could attract further investment and innovation in the Gulf's financial ecosystem.
The company, which emerged from the merger of Sary and ShopUp, currently serves over 50,000 businesses in the Kingdom, leveraging its dual platforms—Sary for procurement and Fina for financial services. In 2026, SILQ reported enabling more than SAR 10 billion in B2B commerce, underscoring its significant role in the Saudi market. The recent financing is poised to further reduce barriers for SMEs, a critical segment of the economy that often struggles with access to financial resources.
For Gemcorp Capital, this investment marks a series of firsts: its inaugural direct lending transaction, its first Shariah-compliant financing structure, and its first mezzanine financing facility in Saudi Arabia. The asset manager has collaborated closely with SILQ to design a financing solution that aligns with the company's long-term vision of expanding embedded financial services across the Kingdom and the broader GCC region. This initiative is in line with Saudi Arabia's Vision 2030, which aims to foster financial inclusion and support the growth of SMEs as a vital component of economic diversification.
As demand for alternative financing options continues to rise among SMEs, SILQ's innovative approach positions it well within the competitive landscape of Saudi fintech. The integration of financial services into everyday business operations not only enhances operational efficiency for SMEs but also reflects a broader trend towards embedded finance in the region, which could attract further investment and innovation in the Gulf's financial ecosystem.
Source: Wamda
