Raqamyah Platform is a regulated peer-to-peer financing platform that connects individual lenders with borrowers in need of funding, authorized by the Saudi Arabian Monetary Authority (SAMA). It provides direct loan opportunities to small businesses and individuals, enhancing financial access in a region with limited financing options.
Funding
$4.8M 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.
IFounders
Product
Problem
Small and medium-sized enterprises (SMEs) in Saudi Arabia face challenges in accessing adequate financing due to limited traditional financing options. This restricts their ability to expand operations, manage cash flow, and invest in growth opportunities.
Solution
Raqamyah is a regulated peer-to-peer (P2P) financing platform that connects SMEs seeking capital with individual and institutional investors looking for alternative investment opportunities. The platform offers Sharia-compliant financing solutions, including invoice financing, sales financing, purchase financing, and point-of-sale financing, enabling SMEs to secure funding up to 7.5 million SAR. Raqamyah streamlines the financing process through an online platform, providing SMEs with faster access to capital and investors with direct exposure to a diversified portfolio of SME loans. By leveraging crowdfunding, Raqamyah enhances financial inclusion and supports the growth of the SME sector in Saudi Arabia. The platform employs a credit scoring system to assess risk and provides investors with transparent information to make informed decisions.
Target Audience
Raqamyah targets SMEs in Saudi Arabia seeking financing for working capital, expansion, and other business needs, as well as Saudi citizens, residents, and registered companies looking for alternative investment opportunities in the SME sector.
Features
- Online platform for SMEs to apply for financing and investors to browse opportunities
- Sharia-compliant financing structures, including Murabaha
- Financing options for invoices, sales, purchases, and point-of-sale transactions
- Funding amounts up to 7.5 million SAR
- Credit scoring system for risk assessment
- Automated investment and repayment processes
- Dedicated investor accounts for managing funds
- Mobile application for convenient access and management