SILQ raises $20 million to scale embedded finance for Saudi SMEs
Saudi B2B e-commerce and fintech platform SILQ has secured a $20 million Shariah-compliant structured financing facility from Gemcorp Capital to expand embedded financial services for SMEs in Saudi Arabia. Formed following the merger of Sary and ShopUp , SILQ operates a B2B commerce ecosystem serving more than 50,000 businesses in Saudi Arabia through its procurement platform Sary and embedded…
Saudi fintech platform SILQ has secured $20 million in Shariah-compliant financing from Gemcorp Capital to scale its embedded financial services for SMEs in Saudi Arabia. The investment will be used to expand invoice financing, trade finance, and other embedded financial solutions through SILQ's B2B commerce platform, Fina. This marks Gemcorp's first direct lending transaction, first Shariah-compliant financing structure, and first mezzanine facility in the Kingdom, aligning with Vision 2030's financial inclusion goals.
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