The Ministry of Investment for Saudi Arabia (MISA) has signed a Memorandum of Understanding (MoU) with Fasanara Capital, a technology-driven global asset manager with $5 billion in assets. Announced at the Money20/20 conference in Riyadh, the agreement aims to significantly expand investment initiatives in the Kingdom, with a focus on enhancing the fintech lending ecosystem for Small and Medium-sized Enterprises (SMEs).
A Framework For Fintech Growth
The MoU establishes a strategic framework for MISA to design and promote fintech lending programs tailored to the financing needs of Saudi SMEs. Under this agreement, MISA will facilitate Fasanara’s expansion within the Kingdom by coordinating across various government entities and capital partners. This collaboration will provide Fasanara with access to alternative credit assets while expanding its lending base in the Saudi market.
Commitment of Over SAR 3 Billion
The partnership envisions substantial capital injection into the local market, with investment initiatives projected to exceed SAR 3 billion in fintech-enabled and SME lending. This capital is expected to support cumulative lending volumes of over SAR 30 billion (US$8 billion), providing a significant boost to the SME sector, a cornerstone of Saudi Arabia’s economic diversification strategy. Francesco Filia, CEO and Founder of Fasanara Capital, stated, “We are thrilled to sign this MoU with MISA as part of our journey to expand in the Kingdom of Saudi Arabia.”
Building on Existing Investments
This MoU builds on Fasanara’s existing commitment to the Saudi market. Earlier this year, the asset manager announced its first investment in the Kingdom with a SAR 225 million (US$60 million) facility for Forus, a leading Saudi fintech platform specializing in working capital solutions for SMEs. The new agreement with MISA deepens this strategic partnership and signals a long-term vision for the region. The Middle East is a key priority for Fasanara, which recently announced the opening of a regional office and the hiring of a senior executive to manage its growing operations.
About Fasanara Capital
Founded in 2011, Fasanara Capital is a London-headquartered global asset manager and technology-driven investment platform. The firm manages $5 billion in fintech-focused strategies on behalf of major pension funds and insurance companies. Fasanara is a pioneer in fintech-originated Asset-Based Lending, utilizing a proprietary technology platform that integrates with over 140 fintech lenders in more than 60 countries to enable real-economy impact.
Source: Zawya
