Sukna Capital and Partners for Growth Launch $50 Million Lending Initiative for MENA Tech
A significant boost for the tech sector in the Middle East and North Africa (MENA) region is on the horizon, thanks to a new partnership. Sukna Capital, based in Saudi Arabia, has joined forces with Partners for Growth (PFG) to launch a $50 million lending program specifically designed to fuel the growth of technology companies and SMEs in Saudi Arabia and the broader MENA region.
Sharia-Compliant Financing for Sustainable Growth
Sukna Capital’s SFDF, the Kingdom’s pioneering open-ended direct lending fund, will spearhead this initiative. The fund will provide Sharia-compliant, non-dilutive financing options to businesses. These solutions include working capital lines, term loans, and contract financing, enabling founders to retain equity while gaining access to institutional-level credit. This strategic approach allows companies to align their financing with their revenue streams and assets, fostering sustainable scaling across the region. The partnership ultimately aims to accelerate technological innovation and contribute to the realization of Saudi Arabia’s Vision 2030 goals.
This collaborative effort represents a crucial step in empowering MENA’s tech ecosystem. By providing accessible and tailored financing solutions, Sukna Capital and Partners for Growth are poised to unlock the potential of high-growth companies, driving economic diversification and innovation within the region.
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