UAE-based FinTech firm Beehive has acquired a majority stake in Themar Business Company, a Saudi-based debt crowdfunding platform. The deal marks a significant strategic move for Beehive, giving it a regulated foothold to deepen its SME financing operations in Saudi Arabia.
Quick Facts
- The Deal: Majority stake acquisition of Saudi’s Themar.
- The Goal: Expand regulated SME lending across the Kingdom.
- Beehive’s Scale: Financed over 3,000 SMEs across the GCC.
From Partnerships to a Regulated Player
Beehive initially entered the Saudi market in 2020 through banking partnerships. This acquisition signals a strategic shift, moving the company from a partnership-based model to operating within a fully regulated local framework.
By taking over Themar, Beehive gains access to a licensed crowdfunding platform, allowing it to directly deploy its technology and financing solutions to support Saudi businesses more effectively.
Combining Tech with Local Regulatory Access
The transaction combines Beehive’s established digital lending infrastructure with Themar’s regulatory license in Saudi Arabia. The integrated entity aims to provide Saudi entrepreneurs with more efficient and transparent funding solutions.
Craig Moore, Co-founder and CEO of Beehive, described Saudi Arabia as one of the region’s most dynamic markets for SMEs. He added that the acquisition will create a “more comprehensive financing gateway for Saudi entrepreneurs by leveraging Beehive’s technology, operational experience, and track record in SME lending.”
Supporting Saudi’s Vision 2030
This move directly aligns with Saudi Arabia’s Vision 2030, which has prioritized improving access to finance for small and medium-sized enterprises to fuel private sector growth. As the Kingdom continues to build its entrepreneurial ecosystem, the demand for alternative financing platforms like Beehive is growing.
The acquisition strengthens Beehive’s long-term commitment to the Saudi market and positions it to play a larger role in the country’s expanding FinTech and alternative finance sectors.
About Beehive
Founded in 2014, Beehive is a UAE-based peer-to-peer (P2P) lending platform that connects businesses seeking finance with investors. It focuses on providing digital financing solutions to Small and Medium-sized Enterprises (SMEs) across the GCC.
About Themar
Themar for Business Company is a Saudi Arabia-based debt crowdfunding platform licensed by the Saudi Central Bank (SAMA). It facilitates financing for SMEs by connecting them with a network of investors through its digital platform.
Source: Arab Founders
