Nayla Finance, a fintech startup in Saudi Arabia, has raised $4 million in seed funding, with Sanabil Venture Studio by Stryber leading the round. Established in 2024 by Shaqran Alyahya and Khalid Naili, Nayla specializes in providing microfinance solutions tailored to small businesses.
This investment will accelerate Nayla’s growth, supporting product development, business expansion, and an increase in available capital for micro-businesses throughout Saudi Arabia. The company aims to strengthen its data-driven lending platform and broaden its partnerships, especially within the food and beverage, e-commerce, and retail sectors.
The founders emphasize their commitment to supporting businesses often overlooked by traditional lenders, using technology and alternative data to better assess creditworthiness. They believe this approach will open up new financing opportunities for micro-businesses, which are crucial to the Saudi economy.
Sanabil Venture Studio’s leadership highlighted the importance of fintech innovation in closing funding gaps for micro-businesses, a key segment of the country’s SME landscape. Nayla’s streamlined lending process, powered by digital tools and data analysis, makes it easier for small business owners to secure financing without the hurdles of conventional banking.
With the new funding, Nayla plans to:
- Advance its data-driven credit scoring for improved lending decisions
- Grow its network through strategic alliances with digital commerce and merchant platforms
- Allocate an additional $2.7 million in debt financing to expand its loan book
This milestone supports Saudi Arabia’s Vision 2030 goals, promoting financial inclusion and digital transformation in the SME sector.