Saudi platform "SILQ" secures $20 million in funding to support small businesses
The Saudi platform "SILQ," which specializes in B2B e-commerce and financial technology solutions, has announced that it has successfully secured $20 million in Sharia-compliant structured financing. This funding will enhance the company's ability to expand its embedded financial services within the Kingdom of Saudi Arabia.
This strategic move aims to support small and medium-sized enterprises (SMEs) in the Kingdom, as the platform seeks to provide innovative financial solutions that facilitate trade and financing operations. These companies are a fundamental pillar of the Saudi economy and contribute significantly to achieving the goals of Saudi Vision 2030 to strengthen the private sector.
Through this new funding, SILQ will be able to develop its technical infrastructure and increase the efficiency of the services provided to its clients. The company plans to use these resources to offer more flexible credit facilities, helping small businesses manage their cash flows and expand their operations in the local market more quickly and sustainably.
This investment comes at a time when the financial technology sector in Saudi Arabia is witnessing remarkable growth, thanks to regulatory support and an attractive investment environment. This deal confirms investor confidence in the ability of Saudi startups to provide advanced technical solutions that serve the digital economy and support financial transformation in the region.