- $50 Million Deal: Sukna Capital partners with BFG to provide financing for startups and SMEs in Saudi Arabia and the wider Middle East.
- Flexible Financing Solutions: Includes working capital, contract financing, and term loans, with Sharia-compliant options via Sukna’s Direct Lending Fund.
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Focus on Tech & Innovation: Funding targets early and growth-stage companies, enabling entrepreneurs to scale without giving up equity.
Riyadh-based Sukna Capital has announced a strategic partnership with BFG valued at $50 million. The initiative aims to support startups and small-to-medium enterprises (SMEs) in Saudi Arabia and across the Middle East through innovative financing solutions that foster growth and expansion.
Comprehensive Financing Facilities
The agreement covers a wide range of financing options, including:
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Working capital
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Contract financing
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Term loans
In addition, the partnership provides tailored solutions for businesses at both early and advanced growth stages, with a strong focus on technology and innovation sectors. These facilities allow founders to secure liquidity without diluting their ownership stakes.
Sukna Direct Lending Fund
The collaboration also strengthens Sukna Capital’s strategy through its Direct Lending Fund, the first open-ended Sharia-compliant lending fund in Saudi Arabia.
The fund offers revenue-linked and asset-backed financing structures, enabling companies to access greater liquidity compared to traditional financing methods.
Leadership Statements
Sukna Capital’s View
Sukdev Hansra, Head of Asset Management at Sukna Capital, stated:
“This partnership reflects our commitment to applying global standards within the local market. By working with BFG, we can provide entrepreneurs with flexible financing that matches their ambitions, empowering founders to scale without giving up equity and driving long-term value creation.”
BFG’s View
Andrew Kan, Co-Founder and CEO of BFG, commented:
“We take pride in supporting fast-growing companies in the Middle East for over five years. Our focus is always on listening to founders, understanding their requirements, and structuring financing that ensures growth while preserving ownership and management control.”
Why This Partnership Matters
The $50 million Sukna–BFG partnership provides a powerful financing platform that fills funding gaps for startups and SMEs in Saudi Arabia and the Middle East. By offering flexible, Sharia-compliant financing, it empowers entrepreneurs to innovate and expand without sacrificing equity or control.
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