Beehive and Themar Partner to Revolutionize SME Financing in Saudi Arabia

Beehive and Themar Join Forces to Transform SME Financing in Saudi Arabia

In a significant move set to reshape the landscape of small and medium-sized enterprise (SME) financing in Saudi Arabia, Beehive, a trailblazer in digital lending within the Middle East, has formed a partnership with Themar, a licensed crowdfunding platform operating in the Kingdom. This strategic alliance, formalized through a non-binding offer letter, aims to position Beehive as a regulated financial technology (fintech) lender in Saudi Arabia, solidifying its influence in one of the region’s most vibrant SME markets.

The collaboration represents a pivotal shift in private credit access in the Kingdom and is subject to regulatory approvals. By merging Beehive's advanced digital lending technology and its established track record with Themar's regulatory expertise and local insights, this partnership is poised to significantly reduce the estimated SAR500 billion (USD $133.3 billion) SME financing gap in Saudi Arabia.

The initiative aligns seamlessly with Saudi Arabia's Vision 2030, a national strategic framework emphasizing economic diversification and the enhancement of the private sector's role in fostering growth. This union between Beehive and Themar is more than a mere merger; it is a vital stepping stone towards delivering fast, digital, and accessible funding solutions that entrepreneurs desperately need, representing a scalable alternative to traditional banking mechanisms.

Pete Tavener, Co-Founder and Group CFO of Beehive, expressed enthusiasm about the partnership, stating, "This merger will be a landmark achievement not just for Beehive but for the broader SME ecosystem in Saudi Arabia. By joining forces with Themar’s regulatory framework and their local market insight, we are establishing a robust platform that will significantly transform SME financing and align with Vision 2030 goals."

Echoing similar sentiments, Yousef H. Al Dabbagh, Co-Founder and COO of Themar, highlighted the broader impact of this alliance, remarking, "The collaboration between Themar and Beehive transcends a simple merger; it acts as a catalyst for advancing SME growth across Saudi Arabia. Together, we will provide innovative, Shariah-compliant, and accessible financing solutions to propel business development and significantly contribute to the Kingdom's economic transformation."

Founded in 2014, Beehive has distinguished itself as the first peer-to-peer lending platform in the MENA region to receive regulatory guidelines from the Dubai Financial Services Authority (DFSA). Operating out of its Dubai headquarters, Beehive has successfully connected businesses seeking capital with investors eager to back their expansion efforts. The platform is recognized for delivering faster, more economical funding solutions tailored to the needs of SMEs, fostering a trustworthy partnership within the Gulf Cooperation Council (GCC) states.

On the flipside, Themar operates as a SAMA-licensed debt crowdfunding platform targeting the Saudi market, adeptly linking investors with emerging businesses and delivering regulated investment pathways while enhancing financing access. Its mission has consistently been to empower entrepreneurs and support SMEs while ensuring that both individuals and institutional investors engage with confidence, transparency, and meaningful impact.

As Beehive and Themar prepare to embark on this transformative journey, all eyes will be on the implementation of their plans to reshape SME financing in Saudi Arabia. The positive implications for entrepreneurs and the local economy could herald a new era of accessible financial solutions, propelling the Kingdom toward a more diversified and robust economic future.