Saudi B2B commerce and fintech platform SILQ has secured a $20 million Shariah-compliant structured financing facility from emerging markets asset manager Gemcorp Capital to expand embedded financial services for small and medium-sized enterprises (SMEs) in Saudi Arabia. The transaction marks Gemcorp’s first direct lending investment in the Kingdom and will support the growth of SILQ’s embedded finance platform, Fina, as demand for alternative SME financing continues to increase.
The financing will be deployed through Fina, SILQ’s embedded finance solution, to broaden access to invoice financing, trade finance and other financial products that are integrated directly into merchants’ day-to-day business operations. The company aims to reduce financing barriers for SMEs by embedding credit and payment services within its existing commerce ecosystem rather than requiring businesses to seek funding through traditional channels.
SILQ serves more than 50,000 businesses in Saudi Arabia through its procurement platform Sary and embedded finance platform Fina, combining procurement, payments, financing and merchant operating tools within a unified digital ecosystem. According to the company, the platform has enabled more than SAR 10 billion in B2B commerce across Saudi Arabia in 2026.
For Gemcorp, the transaction represents several milestones, including its first direct lending transaction, first Shariah-compliant financing structure, and first mezzanine financing facility in Saudi Arabia. The investment manager said it worked closely with SILQ to structure a financing solution aligned with the company’s long-term plans to expand embedded financial services across Saudi Arabia and the wider GCC, supporting broader financial inclusion objectives under the Kingdom’s Vision 2030 agenda.
