Saudi Nayla Finance Secures $4 Million to Boost Micro-Business Lending

Nayla Finance, a Saudi Arabian fintech platform specialising in lending solutions, has raised $4 million in a seed funding round led by Sanabil Venture Studio by Stryber. The capital injection aims to expand Nayla's digital lending services to micro and small businesses across the Kingdom.

In addition to the equity funding, Nayla plans to deploy an extra $2.7 million in debt financing to build its loan portfolio, providing essential capital to micro-businesses in sectors such as food and beverage, e-commerce, and retail. This strategic move is designed to enhance financial inclusion and support the growth of small enterprises that are often underserved by traditional banking institutions.

Nayla's platform enables small and medium-sized enterprises (SMEs) to access financing of up to SR 100,000 through a fully digital process tailored specifically for their needs. The company's approach utilises alternative data sources and advanced risk assessment models to evaluate creditworthiness, aiming to simplify the borrowing process for SMEs and promote economic growth within the sector.