Saudi fintech firm SILQFi has announced the acquisition of OXO, a leading point-of-sale (POS) provider in the Kingdom, to launch its new integrated platform, Omni. The platform is designed to embed financial services directly into the daily operations of Small and Medium-sized Enterprises (SMEs).
Integrating Finance into Daily Operations
The Omni platform aims to simplify merchant workflows by combining POS systems, procurement, payments, and instant access to credit through a single, unified interface. This integration allows merchants to automate inventory management, access dynamic credit lines based on actual sales data, and offer flexible payment terms without relying on third-party providers or extensive paperwork. By embedding financing into the natural workflow, Omni transforms routine sales and purchases into opportunities for business growth.
Leveraging Untapped Data for SME Credit
A key innovation of the Omni platform is its ability to utilize offline transaction data, which is often overlooked by traditional lenders. By analyzing this rich data from POS systems, SILQFi can create more accurate and transparent credit profiles for micro and small businesses, improving their access to capital. This approach directly addresses a significant challenge for SMEs seeking financing.
“Traditional financial systems often ignore the detailed, real-time data passing through POS systems, which reveals the true rhythm and reliability of a small business,” stated Mohamed Aldossary, CEO of SILQFi. “With Omni, we are changing that. By leveraging this untapped data, we improve credit visibility and enable fair access to capital through embedded financial tools designed around the merchant’s workflow.”
A Strategic Move to Address a Market Gap
The acquisition provides Omni with a substantial launchpad, leveraging OXO’s existing base of over 10,000 merchants across retail, hospitality, F&B, and e-commerce, who have collectively processed more than SAR 7 billion in transactions. This move positions SILQFi to tackle Saudi Arabia’s estimated SAR 650 billion SME financing gap. The initiative also aligns with the Kingdom’s national goal to increase SME financing to 20% of bank portfolios by 2030. To further this mission, SILQFi has partnered with Saudi Awwal Bank (SAB) and HSBC to provide data-driven lending solutions.
“At OXO, we always sought to simplify operations, but our customers needed more—they wanted flexible and easy financing for themselves and their clients,” said Ali Al-Hazmi, Co-founder and CEO of OXO. “With SILQFi, we can deliver this true transformation in the merchant experience. Omni is not just a new product; it’s an integrated operating philosophy.”
About SILQFi
SILQFi is a financial technology company focused on embedding financial services into the operational ecosystem of SMEs. Through its new Omni platform, launched after the strategic acquisition of OXO, the company provides integrated solutions that combine payments, credit, and business management tools to support the growth of small and medium-sized enterprises in Saudi Arabia and the broader region.
Source: Jawlah
