SILQ Secures $100 Million to Expand SME Embedded Finance in Saudi Arabia

Saudi-based SILQ has secured a $100 million financing facility from Gemcorp Capital, Fasanara Capital and Amwal Capital Partners to expand its SME embedded finance business. The money will scale Fina, SILQ’s platform that provides working capital and other financing to small businesses through the digital tools they already use, helping address access to credit for merchants in Saudi Arabia. The announcement builds on earlier financing for the platform and comes as SILQ pushes to grow its footprint in the Kingdom’s small-business lending market.