M&AJul 1, 2026, 17:08 UTC

Beehive buys majority stake in Saudi platform Themar, becomes first SME lender in 3 GCC markets

What's the deal? Dubai-based Beehive Group Holdings has completed its acquisition of a majority stake in Themar Al Aamal, the holding company behind a Saudi debt-crowdfunding platform regulated by the Saudi Central Bank (SAMA).

The deal makes Beehive the first digital small and medium-sized enterprise (SME) financing platform regulated across three Gulf Cooperation Council (GCC) markets: the UAE, Oman, and Saudi Arabia.

Why now? Beehive has operated in Saudi Arabia since 2020 through banking partnerships. The Themar acquisition converts that presence into a fully regulated platform.

The transaction lands as Beehive passes 3,000 SMEs financed across the GCC since its 2014 founding.

It also supports Saudi Arabia's Vision 2030 agenda, which prioritises expanding SME financing, increasing private-sector participation, and diversifying the economy.

"With Themar, we are moving from a partnership-led presence to a regulated platform in the Kingdom, giving us a stronger foundation to scale access to financing for Saudi SMEs," said Peter Tavener, co-founder and group chief executive officer of Beehive.

The signal: Beehive is now looking to establish a Saudi funding facility, mirroring its structured arrangement with Goldman Sachs and Magellan Capital in the UAE.

The move reflects a broader push to build regulated cross-border fintech infrastructure across the Gulf, as the region works to close the SME financing gap.

For Themar co-founder Yousef H. Al Dabbagh, the tie-up brings "the regional scale, the technology, and the institutional relationships to open up a new level of capital access for Saudi businesses."