Quara Finance Secures $26.6M Facility to Fuel Growth Ambitions

Malaz Madani

Last updated 18-06-2025

2 min

Quara Finance has secured a SAR 100 million credit facility from SHL Finance Co.

The Shariah compliant deal aims to boost Quara's sales and strategic goals.

Smart financial moves include a promissory note and receivables assignment for security.

Indirect shareholder Yousef Abdullah Al-Shilash links Quara Finance and SHL Finance.

Arageek remains hopeful this funding aids Saudi entrepreneurs and startup growth.

I have to admit, one of the most exciting things about following startups in the MENA is seeing them land new funding deals. Just recently, Saudi-listed firm Al Quara Finance scored a rather tidy SAR 100 million (that's roughly $26.6 million) credit facility from SHL Finance Co.—which should give their business quite the healthy boost.

This new financing arrangement, which is set to last three years, ticks all the boxes—it’s Shariah compliant and designed specifically to ramp up the company's sales volume. Basically, Quara Finance reckons this fresh injection will help it hit some strategic goals it’s had in sight for a while now.

Of course, there’s no such thing as a free lunch in finance, is there? Quara Finance issued a promissory note covering the entire facility amount, and just to be safe, assigned a set of receivables equivalent to 120% of the outstanding balance. Smart move to protect everyone's interests, I reckon.

To add another small twist—you know how interconnected the MENA startup ecosystem can get—turns out Yousef Abdullah Al-Shilash, an indirect shareholder of Quara, also holds stakes in SHL Finance. Happens far more often than you'd think around here… well, I mean, startups and investors normally swim in the same waters, don't they?

Now, at Arageek our mission has always been to energise and encourage entrepreneurs across our MENA patch—whether it's a bustling fintech from Cairo or an ambitious Saudi startup like Quara Finance. Facilities like these aren't just dry, business-as-usual deals; they're often make-or-break for young companies aiming to scale up.

On the flip side, I've never been a fan of overly complicated funding structures, but this one actually seems quite straightforward and transparent—exactly the kind of clarity startups desperately need. Managing finance and debt doesn't have to be a complete headache or a bit of a faff, and Quara appears to have got this one pretty much spot on.

We'll certainly be keeping our eyes peeled here at Arageek, to see how things pan out for Al Quara Finance after this latest cash injection. Fingers crossed, it'll mean more good news stories for Saudi entrepreneurs and startup watchers alike.

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