Nayla Finance offers Sharia-compliant financing solutions tailored for micro-businesses in Saudi Arabia. By providing access to capital that adheres to Islamic finance principles, Nayla Finance empowers these businesses to grow and thrive within the local economy.
Funding
$4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Micro and small enterprises (MSEs) in Saudi Arabia often face challenges in accessing adequate financing due to factors such as limited credit history, lack of collateral, and complex banking procedures. This restricts their ability to grow, innovate, and contribute to the Kingdom's Vision 2030 goals.
Solution
Nayla Finance provides Sharia-compliant, fully digital financing solutions designed to empower Saudi Arabian MSEs. Through a streamlined online application process and tailored credit scoring system, Nayla offers fast and flexible access to capital, evaluating businesses based on their potential and challenges rather than traditional metrics. Approved businesses can receive up to 100,000 SAR directly to their accounts, with clear repayment schedules and no penalties for early repayment. Nayla's approach aims to redefine the financing experience for MSEs, offering ethically grounded financial solutions that align with their values and beliefs. The company employs advanced encryption and strict data protection protocols to ensure the security and confidentiality of client information.
Target Audience
Nayla Finance primarily targets micro and small enterprises (MSEs) across various sectors in Saudi Arabia, including retail, food & beverage, e-commerce, and personal services, seeking accessible and Sharia-compliant financing solutions.
Features
- Fully digital application and approval process for fast access to financing
- Sharia-compliant financial solutions
- Tailored credit scoring system that understands the unique challenges and potential of SMEs
- Financing up to 100,000 SAR
- Fixed repayment schedules with no penalties for early repayment
- Advanced encryption and data protection protocols to ensure data security
- Financial advisory, workshops, and webinars focused on business growth and financial management