RIFD Secures Antler Backing to Revolutionise Saudi SME Financing

Malaz Madani

Last updated 4-08-2025

3 min

RIFD receives strategic investment from Antler to revolutionise SME invoice financing in Saudi Arabia.

Credit extended to SMEs in Saudi is high, but receivables-based solutions remain underutilised.

RIFD aims to fill a SAR one billion funding gap with Shariah-compliant finance.

Supported by Antler and the Ministry's "Tech Champions 5" programme, RIFD is making impactful moves.

Early initiatives include a pilot deal and developing institutional partnerships for broader expansion.

There’s a fresh twist in Saudi Arabia’s fintech scene this week as RIFD, an up-and-coming platform built to help small and medium-sized businesses, secures a strategic investment from global VC player Antler. It’s not just another bit of dry funding news – this move puts RIFD in pole position to shake up how businesses handle invoice financing, all while sticking to Shariah principles. And believe it or not, anyone who’s grappled with invoice delays knows just how much of a faff traditional financing can be.

The numbers are eye-opening. While credit extended to SMEs in Saudi soared past SAR 351.7 billion in Q4 2024, only a tiny slice – less than six percent – comes through solutions built on receivables (that’s money owed to businesses, to you and me). Abdulrahman AlDakheel, RIFD’s CEO, points to a funding gap of over SAR one billion – a gap RIFD is itching to fill with its tailored infrastructure. “We’re building what’s needed to unlock this finance, boost SME growth, and open up safe, Shariah-compliant opportunities for institutional investors,” Al-Dakhil explained recently, adding that Antler’s backing will fuel their ambitions across Saudi and the wider region.

Now, from my own time meeting energetic founders at Arageek events, I’ve seen how access to smarter, faster funding can breathe life into even the scrappiest startups. Still, I reckon it’s about time alternative financing took centre stage – traditional bank loans often miss the mark, especially for newcomers to the market. That said, with international validation from Antler and the stamp of approval from the Ministry of Communications and IT’s “Tech Champions 5” programme, RIFD isn’t just talking a good game; they’re making tangible moves.

They’re already running their first pilot deal, and a handful of serious institutional partnerships are in the pipeline. Being part of Antler’s portfolio also means RIFD gets plugged into years of operational know-how and a pretty impressive network – a golden ticket for any startup wanting to scale.

On the flip side, it’s early days yet. Building robust, Shariah-compliant financial products isn’t a walk in the park and, let’s be honest, the regulatory hoops can be a real headache. But the momentum is definate. If all goes to plan, this isn’t just good news for RIFD; it could mean a real shakeup for how Saudi businesses manage their cashflow and grow.

All in all, it’s a spot on example of how the right mix of local grit and global vision can give SME finance in the MENA region the shot in the arm it sorely needs. At Arageek, seeing startups take these bold steps is what keeps things buzzing – and I, for one, will be keeping a close eye on where RIFD heads next.

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