Beehive and Themar Collaborate to Enhance SME Financing in KSA
Beehive and Themar Collaborate for SME Financing Revolution
Beehive, a pioneer in digital SME lending in the region, has recently established a strategic partnership with Themar, a licensed crowdfunding platform operating within the Kingdom. This collaboration marks a significant step towards enhancing SME financing in Saudi Arabia, aiming to create a robust and regulated fintech ecosystem.
Transforming the SME Financing Landscape
The proposed merger between Beehive and Themar signifies a transformative moment for private credit in the Kingdom. By integrating Beehive's advanced digital lending technology and extensive experience with Themar's regulatory framework and local expertise, this partnership is strategically positioned to address the substantial SAR500 billion (approximately USD$133.3 billion) financing gap faced by SMEs.
Supporting Vision 2030 through Strategic Collaboration
This collaboration is not just about combining resources; it is aligned with the broader goals of Saudi Arabia’s Vision 2030. This vision seeks to promote small and medium enterprises as a cornerstone of economic diversification. By merging their capabilities, Beehive and Themar will provide entrepreneurs with fast and accessible funding solutions that are essential in today’s evolving market.
Innovative Solutions for Entrepreneurs
Beehive’s Co-Founder and Group CFO, Pete Tavener, highlighted the significance of this merger, stating, "This collaboration will be a milestone not only for Beehive but also for the broader SME ecosystem in the Kingdom. By merging our strengths with Themar's insightful local presence and regulatory credentials, we aim to create a powerful platform that will revolutionize SME financing and support Vision 2030 effectively."
Commitment to Growth and Engagement
Yousef H. Al Dabbagh, Co-Founder and COO of Themar, echoed similar sentiments, emphasizing that this partnership will act as a catalyst for SME growth across the Kingdom. He remarked, "Together, we will introduce innovative, Shariah-compliant, and highly accessible financing solutions that empower businesses to thrive and participate actively in the Kingdom’s economic transformation."
About Beehive
Founded in 2014, Beehive stands as the first peer-to-peer lending platform in the MENA region that is regulated by the DFSA. Based in Dubai, Beehive plays a vital role by connecting businesses seeking financial assistance with investors eager to support their growth. This innovative approach facilitates quicker and more cost-effective funding options for SMEs, making it a trusted partner across the GCC region.
About Themar
Themar.sa is a reputable Saudi platform licensed by SAMA, specializing in debt crowdfunding. It connects investors with blossoming businesses, offering regulated investment opportunities and financial solutions that empower SMEs. Themar has built a solid reputation for promoting entrepreneurship while ensuring transparency and trust for its investors.
Media Inquiries
For media inquiries or further information, please contact Milda Kise, Group Head of Marketing at Beehive Fintech. You can reach her at +971 04 550 6713.
Frequently Asked Questions
What is the significance of the Beehive and Themar partnership?
The partnership aims to create a regulated platform that addresses the SME financing gap in Saudi Arabia, promoting growth and economic diversification.
How will this collaboration support Vision 2030?
The partnership aligns with the objectives of Vision 2030 by enhancing SME lending and fostering economic growth through innovative financing solutions.
Who are the key figures in this merger?
Key figures include Pete Tavener, Co-Founder & Group CFO of Beehive, and Yousef H. Al Dabbagh, Co-Founder & COO of Themar.
What services will the new entity offer to SMEs?
The new collaboration will focus on providing fast, digital, and accessible financing solutions that empower SMEs to thrive and grow.
What are Beehive's core values?
Beehive is committed to offering affordable, transparent, and timely financing options to support the growth of SMEs in the region, emphasizing technological innovation.
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