SILQ, the B2B commerce and fintech group formed through the merger of Bangladesh’s ShopUp and Saudi Arabia’s Sary, has secured a $75 million Shariah-compliant debt facility from London-based investment manager Fasanara Capital. The facility will fund working capital loans to small and medium-sized businesses in Saudi Arabia through Fina, SILQ’s embedded finance arm, with financing delivered through the digital workflows merchants already use for procurement, payments, and daily operations. The objective is to expand access to Shariah-compliant working capital for Saudi SMEs by embedding lending directly into merchants’ existing commerce tools rather than requiring a separate banking relationship. This deal follows a $20 million structured financing facility SILQ agreed with Gemcorp Capital in July, bringing the group’s announced debt capital this month to $95 million. Key players include SILQ, formed in April 2025 when ShopUp merged with Sary in a deal backed by $110 million in equity and debt led by Sanabil Investments and Valar Ventures; SILQ has reached more than 50,000 businesses in Saudi Arabia and enabled over SAR 20 billion (roughly $5.33 billion) in total transaction volume. 

SILQ Secures $75M Shariah-Compliant Facility to Expand Embedded Finance for Saudi SMEs