Saudi-based fintech RIFD has secured a strategic investment from global early-stage venture capital firm Antler, marking a major milestone in its journey to modernize SME financing in the Kingdom.
Founded in 2024 by Abdulrahman AlDakheel, RIFD is the first Shariah-compliant platform in Saudi Arabia focused on securitising trade receivables from SME suppliers. By enabling institutional investors to finance receivables from large, creditworthy buyers, RIFD is unlocking a new, untapped asset class—while giving small businesses access to much-needed liquidity.
Solving a Financing Gap for SMEs
In Saudi Arabia, SME credit surpassed SAR 351.7 billion in Q4 2024, a 27.6% year-on-year increase. But receivables-based financing still makes up less than 6% of that figure—revealing a massive market gap.
- âś… SMEs struggle with delayed payments and lack of access to affordable financing
- âś… Receivables from large corporations often go unleveraged
- âś… Traditional financing models overlook Shariah-compliant structures
RIFD steps in to solve this by building the country’s first institutional-grade, Shariah-compliant securitisation infrastructure. The goal? To drive SME growth while offering secure, risk-adjusted returns to institutional investors.
“This billion-riyal gap is a massive opportunity,” said CEO Abdulrahman AlDakheel.
“We’re unlocking this capital—empowering SMEs and creating real economic value in a Shariah-compliant way.”
Backed by Antler and MCIT
Antler’s investment is more than just capital. It validates RIFD’s model on a global level and brings:
- âś… Strategic guidance and operational know-how
- âś… Access to a global network of follow-on investors
- âś… Partnerships with other Antler-backed high-growth startups
RIFD has also been selected by the Ministry of Communications and Information Technology (MCIT) for its Tech Champions 5 program, further proving its potential as a key player in Saudi Arabia’s fintech evolution.
Scaling the Vision
With its first pilot transaction already underway and multiple institutional partnerships in the pipeline, RIFD is gaining rapid momentum.
The company plans to:
- âś… Expand its footprint across Saudi Arabia and the MENA region
- âś… Drive adoption of receivables securitisation as a mainstream SME financing tool
- âś… Build a robust ecosystem for Shariah-compliant financial innovation
This investment and public-sector recognition come at a crucial time. As Saudi Arabia pushes forward with Vision 2030, innovative fintechs like RIFD are playing a central role in transforming the Kingdom’s economic landscape—especially for its fast-growing SME sector.