Funding Souq, a dynamic platform dedicated to financing small and medium-sized enterprises (SMEs), celebrates securing a coveted license from the Saudi Central Bank (SAMA) to introduce its debt crowdfunding services in Saudi Arabia.
Saudi Arabia, as a prominent G20 nation and the most substantial economy in the region, offers vast prospects for corporate growth and development. Acknowledging the Kingdom’s progressive initiatives to foster a business-friendly environment, Funding Souq has identified Saudi Arabia as the prime location to cater to the financing needs of local SMEs.
The company’s mission is to propel SME expansion, generate employment opportunities, and contribute to the economic momentum in Saudi Arabia. By bridging the gap between established SMEs and a global pool of retail and institutional debt investors, Funding Souq makes business financing more attainable, aiding the ambitions of regional enterprises.
“We are delighted to share that our operations are now officially licensed by the Saudi Central Bank,” expressed Martin, the CEO and Founder of Funding Souq. “Our commitment is to the progression of Saudi SMEs and to offer a stellar investment platform for our contributors.”
The Kingdom has made commendable advancements towards fulfilling the financial requirements of SMEs. With a strong legal framework, inclusive of promissory notes, and a sophisticated digital environment through initiatives like Nafath, the process of securing financing for businesses has been greatly streamlined.
Under the nation’s Vision 2030, Saudi Arabia seeks to elevate the SME financing quota from 4% to 20%. With the current financing deficit in the country surpassing 400 billion riyals, there is enormous scope for Funding Souq to significantly narrow this funding gap.
Originating in Dubai in September 2020, Funding Souq has already made notable strides in the Middle Eastern SME financing sector. With the SAMA license now in hand, the platform is well-positioned to transform how SMEs in Saudi Arabia access financial resources.
About Funding Souq:
An esteemed SME financing and investment platform in Saudi Arabia, with additional operations in the UAE, Funding Souq aligns established SMEs with a global network of debt investors, facilitating accessible loans and fostering economic growth. The platform upholds Shariah principles, with certification from Dar Al Sharia and meticulous evaluations by an internal Sharia Supervisory Board to ensure all transactions adhere to Islamic financial standards.
Contact Information
Jowana Alahmadi
Official Website: The official website for Funding Souq
Contact Email Address: The provided support email for Funding Souq