SILQ lands $20M debt facility to expand SME finance in Saudi Arabia
What's the deal? B2B e-commerce fintech SILQ has raised a $20 million (£14.9 million) Shariah-compliant structured financing facility from Gemcorp CapitalDealroom has a profile for this one. Try Dealroom →. It marks the emerging markets manager's first direct lending transaction in Saudi Arabia.
What's the endgame? Proceeds will be deployed via SILQ's embedded finance solution, FinaDealroom has a profile for this one. Try Dealroom →, to expand invoice financing, trade finance, and other embedded services for Saudi small and medium-sized enterprises (SMEs). SILQ serves more than 50,000 businesses through Fina and its B2B platform, Sary.
Why now? SILQ's ecosystem has enabled more than SAR10 billion (£2 billion) in B2B commerce in Saudi Arabia in 2026 to date. The facility targets the SMEs Gemcorp calls "the backbone of the Saudi economy."
What could go wrong? The deal is a set of firsts for Gemcorp — its first direct lending transaction, first Shariah-compliant structure, and first mezzanine facility in the Kingdom — carrying the execution risk that comes with new territory.
"This transaction marks three firsts for Gemcorp in the Kingdom," said Petar Ivanovic, principal at Gemcorp. Founder and chief executive Afeef Zaman said the partnership strengthens SILQ's ability "to expand financial inclusion for SMEs across Saudi Arabia."
The signal: London-based Gemcorp, which structures emerging market private credit for global investors, is planting a flag in the Gulf as embedded finance moves deeper into the region's SME base.
Read more: Alternative Credit Investor
Image credit: Generated with Gemini
