Saudi fintech Safqah Capital raised $15.2M to scale Shariah-compliant debt financing for SME real estate developers under CMA regulation.
Riyadh-based fintech and proptech startup Safqah Capital has raised $15.2 million in a seed funding round to expand Shariah-compliant financing for small and medium-sized real estate developers in Saudi Arabia.
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The round was led by Shorooq, anb Seed Fund, and Rua Growth Fund, with participation from Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and other investors.
Co-founded by Abdullah Alsubaie, Karim Merie, Abdulmalik Alothman, and Omar Alessa, Safqah Capital provides Shariah-compliant debt financing designed to help real estate developers move projects from planning to execution by addressing liquidity gaps often overlooked by traditional banks.
“Banks were not built for developers — we were,” said Abdullah Alsubaie, co-founder and chief executive of Safqah Capital. “We’ve engineered an ecosystem where developers can access capital faster, accelerate project delivery, and improve capital efficiency, while strengthening monitoring and risk controls for all stakeholders.”
Safqah is authorised by Saudi Arabia’s Capital Market Authority (CMA) to offer and enable investment in debt instruments. The platform combines real estate underwriting, structured financing, and developer-focused software into a single digital workflow.
The company leverages data analytics and artificial intelligence to enhance project monitoring, improve underwriting decisions, and increase transparency. Developers use Safqah’s platform to manage funding and execution, while investors gain access to a diversified pool of opportunities supported by structured reporting and risk controls.
With the new funding, Safqah plans to enhance its digital platform, develop more advanced AI-driven risk assessment tools, and expand its financing capacity to support a larger volume and size of real estate projects across the Kingdom.
Why Safqah Capital Matters to MENA
Safqah’s funding highlights a growing shift in MENA’s real estate sector toward alternative, tech-enabled financing models. As traditional banks remain cautious about SME developers, platforms like Safqah are stepping in to unlock stalled projects, improve capital efficiency, and accelerate housing and infrastructure delivery. For Saudi Arabia, it aligns closely with Vision 2030 goals around private-sector growth, fintech innovation, and increased real estate supply—while signalling rising investor confidence in Shariah-compliant digital finance across the region.
