Riyadh, Saudi Arabia – 9th Feb 2026 — In one of the largest pure equity seed funding rounds in the Kingdom’s history and a standout deal in the region's burgeoning fintech landscape. Riyadh-based fintech/proptech Safqah Capital has raised $15.2 million to build the infrastructure powering the next generation of real estate development in Saudi Arabia. The round includes participation from over 12 leading institutional and venture backers, led by anb Seed Fund, Shorooq, and Rua Growth Fund, with participation from Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and others. Underscoring growing investor conviction in Safqah’s role as a cornerstone of Vision 2030’s real estate ambitions.

While Saudi Arabia’s giga-projects capture global headlines, Safqah is focused on a foundational challenge: enabling faster, more transparent capital access for the thousands of SME developers delivering the Kingdom’s housing and commercial supply. In 18 months, the company has financed 70+ development projects with an aggregate value exceeding $800 million across Saudi Arabia. Safqah reports a zero-default track record to date, with loans collateralized at 248%+ and disbursed through a milestone-based framework.

“Banks were not built for developers — we were,” said Abdullah Alsubaie, Safqah’s Co-Founder and CEO. “We’ve engineered an ecosystem where developers can access capital faster, accelerate project delivery, and improve capital efficiency while strengthening monitoring and risk controls for all stakeholders.”

Safqah’s core offering is a Shariah-compliant debt-financing solution designed for SME developers — a segment historically underserved by traditional banks. Authorized by the Kingdom’s Capital Market Authority (CMA) for offering and enabling investment in debt instruments, Safqah helps provide the liquidity developers need to move from planning to execution.

Khalid S. Alghamdi, CEO of anb capital stated: “We are very pleased to co-lead the investment in Safqah, as part of our commitment to supporting technology-enabled financial platforms that contribute to the Kingdom’s Vision 2030. Safqah brings together technological innovation and strong credit governance to deliver more efficient and transparent financing solutions for real estate developers across the region. We believe the company is well positioned to support the evolution of the real estate and financial services sectors, enhance capital market efficiency, and contribute to sustainable economic growth in Saudi Arabia.”

Saudi Arabia’s real estate and infrastructure sector project pipeline has been estimated at over US$1.1 trillion, underscoring the scale of capital and execution needed across the ecosystem. Yet, thousands of SME developers face steep hurdles in accessing capital, with banks often requiring lengthy approval cycles, high collateral thresholds, and rigid underwriting practices. These frictions slow delivery timelines, strain working capital, and reduce overall market throughput.

Safqah addresses this challenge by combining real-estate underwriting, structured financing, and developer-centric software in one platform. More than a lender, Safqah is building a digital “operating system” for real estate development—bringing funding, monitoring, documentation, and execution support into a single workflow.

But Safqah’s ambition extends beyond financing. The company leverages advanced data analytics and AI to strengthen project monitoring, improve decision-making, and increase transparency. For developers, Safqah provides a streamlined portal to manage projects and capital. For investors, it offers access to a diversified set of opportunities supported by structured underwriting and data-backed reporting.

“Safqah is not another lending platform — it’s foundational infrastructure,” said Shane Shin, Founding Partner at Shorooq. “They’ve built a model designed for the pace of development in Saudi Arabia while meeting regulatory standards and the expectations of institutional investors. We see Safqah Capital becoming an indispensable part of the country’s real estate machine.”

Turki Aljoieb, General Partner at Rua added “Safqah is unlocking one of the most critical bottlenecks in Saudi Arabia’s real estate market by expanding access to structured, Sharia-compliant financing for small and medium developers. By enabling efficient project execution and scalable housing delivery, Safqah supports national affordability objectives and advances Vision 2030 homeownership targets, while providing investors with disciplined access to long-term, asset-backed exposure to the Kingdom’s real estate sector.”

Safqah’s founders bring a complementary mix of expertise. Abdullah Alsubaie, CEO a seasoned entrepreneur and software engineer; His co-founders include Karim Merie, CBO a veteran of NHC; Abdulmalik Alothman, CFO who played a key role in the IPO of ELM; and Omar Alessa, a CTO with global startup experience spanning Silicon Valley and London.

The new capital will be deployed across several strategic fronts. Safqah Capital plans to aggressively enhance its products offering, digital platform, building more sophisticated AI tools for risk assessment and underwriting. A major focus will also be on expanding its financing capacity to meet the surging demand from developers, increasing both the size and number of funded projects.