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Saudi-Based Embedded Finance Platform Fina Launches SAR 500M Direct Lending Fund With Joa Capital to Expand SMEs’ Access to Capital

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Fina, SILQ’s B2B embedded finance business, today annouced the launch of its embedded finance capabilities with the Fina Fund, a direct financing fund managed by Joa Capital, an established alternative asset manager based in Riyadh. With a target fund size of SAR 500M, Fina Fund is licensed by the Saudi Capital Market Authority to provide corporate finance solutions to the wider B2B ecosystem in Saudi Arabia.

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A Significant Financing Gap Remains

Saudi Arabia has made significant progress in SME financing, yet a significant gap remains. According to Forbes Middle East, SME financing gap is estimated at approximately SAR 400 billion, while SME financing accounted for 11.3% of total bank loans in 2025, compared with the Kingdom’s 20% target by 2030.

Closing the financing gap requires more than additional capital. Businesses need simpler, more efficient ways to access liquidity. Fina brings liquidity into everyday business workflows, closer to where businesses operate and transact, reducing the cost to serve and making access to capital more efficient and scalable.

From Frictionless Commerce to Embedded Liquidity

SILQ’s journey in Saudi Arabia began with the ambitious mission of Sary to make B2B commerce frictionless, transforming how merchants source and purchase inventory.

Along that journey, one friction stood out: liquidity.

Following the merger of Sary and ShopUp to form SILQ, addressing that challenge became a central part of the ambition: building a dedicated embedded financing capability for businesses. Initially built to serve businesses within the Sary ecosystem, Fina has since facilitated more than SAR 2 billion in trade liquidity, building technology, data and operational capabilities around merchants’ working-capital needs.

The fund marks the next step: bringing these capabilities and learnings to the wider Saudi B2B economy through corporate finance solutions across procurement, supplier payments, receivables and other business workflows, subject to the Fund’s eligibility criteria and applicable terms.

Mohammed Aldossary, Co-founder and CEO, SILQ, Financial Services said: “Behind every business is a merchant working hard every day to buy, sell and grow. Our focus is to bring liquidity closer to that workflow, making access simpler and more connected to how businesses actually operate. The new fund gives Fina the capacity to serve more businesses, unlock more opportunities for growth, and contribute to a healthier and more productive economy.”

Partnership with Joa Capital

The partnership combines Joa Capital’s credit investment management capabilities with Fina’s technology, data and connectivity across B2B commerce.

Yousef AlYousefi, Joa Capital’s CEO and Managing Partner said: “SILQ has built a robust platform for SMEs in the Kingdom that can help predict and qualify businesses for corporate financing for day-to-day operations or scale. Our financing capabilities will support SILQ’s mission to support their network through a scalable, compliant and well governed financing vehicle, supporting the sustainability of their merchants and long term growth of the economy.”

About Fina

Fina is SILQ’s B2B embedded financial capability, bringing liquidity, payments and financial operations into everyday business workflows.

Founded in 2025 through the merger of Sary, MENA’s leading B2B marketplace, and ShopUp, South Asia’s largest B2B commerce platform – SILQ is reshaping how businesses access financial services by embedding financing directly into the flow of commerce.

About Joa Capital

Joa Capital is a private markets investment manager, headquartered in Riyadh, Saudi Arabia, backing high-growth companies across the MENA region through direct equity investments, private credit solutions, and investment banking services.

Regulatory Notice and Important Information

Joa Capital is a Saudi closed joint stock company authorised by the Capital Market Authority under Licence No. 02-21219, Commercial Registration No. 1010668660, with its registered address at Second Floor, Al-Dahna Complex, 6643 Al Ahsa Street, Zahra District, Riyadh 12815, Kingdom of Saudi Arabia.

The Fina Fund is a private, closed-ended direct financing investment fund established under the Investment Funds Regulations and managed by Joa Capital. Units are offered only by private placement, to persons who satisfy the Fund’s eligibility criteria, and not to the public. This announcement is for information only. It is not an offer, a solicitation, investment advice or a recommendation, and any offer is made only through the Fund’s terms and conditions and subscription documents.

Capital is at risk. An investment in the Fund is illiquid, returns are not guaranteed and an investor may lose the whole amount invested. SAR 500 million is the Fund’s target size, not an amount raised or committed. Statements concerning Fina, Sary, ShopUp and SILQ, including the figure of more than SAR 2 billion in trade liquidity, are provided by SILQ, and are not an indication of the Fund’s performance.

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TiE Women MENA Names Five Regional Winners to Compete for MENA Title at GITEX Global 2026

Five women founders from Egypt, Saudi Arabia, the UAE and the wider MENA region will advance to the TiE Women MENA finals at GITEX Global 2026 in December.

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TiE Dubai has named five regional winners of the seventh edition of its TiE Women MENA program, selecting women-led startups across Egypt, Saudi Arabia, the UAE, the wider Middle East and an Emirati-focused track.

Following virtual regional finals held from September 8 to 17, Naglaa Mohamed, Co-Founder of Egypt-based P-Vita; Lea Mehaweg, Co-Founder and CEO of Saudi Arabia-based Maison Safqa; and Anuscha Iqbal, Co-Founder and CEO of UAE-based Qanooni AI, won their respective country tracks. Rowan Alawi, CEO of Trase, took the Rest of MENA category, while Aisha Alyassi, Founder and Brand Director of SCULP, won the Emirati track.

The five founders will compete for the MENA title at the program’s finals during GITEX Global 2026 in December.

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More Than 250 Women-Founded Businesses Apply

TiE Women MENA attracted more than 250 licensed, women-founded businesses this year, up from almost 200 applications in 2025. The cohort spanned sectors including AI and SaaS, AgriTech and FoodTech, HealthTech, sustainability and fashion.

Of the applicants, 228 founders were shortlisted and 46 advanced to the regional finals. Each track selected one winner and two runners-up based on criteria including product-market fit, go-to-market strategy, team strength, competitive advantage, financial objectives and operational and technical viability.

Finalists also worked with dedicated mentors to refine their pitches and prepare their businesses for the regional competition.

The 2026 cohort reflected a strong focus on AI, with founders applying the technology to legal services, construction, livestock health, prenatal care and community platforms. Sustainability-focused companies included ventures addressing agricultural waste, textile reuse and water conservation, while several startups developed products around women’s mobility, mental wellbeing and maternal health.

Winners Head to GITEX Global 2026

At Expand North Star during GITEX Global 2026, each regional winner will receive a dedicated pod to showcase their business and connect with investors and other ecosystem stakeholders.

The five founders will continue receiving one-to-one mentorship ahead of the December final, with support focused on their pitches, go-to-market strategies and investor materials.

Carlina Marani and Shameema Parveen, Co-Chairs of TiE Women MENA 2026, said this year’s candidates stood out for both the quality of their pitches and the range of industries represented. They highlighted businesses spanning AI-powered water conservation and fetal health to sustainability and Emirati food products.

Aisha Alyassi described winning the Emirati track as an important milestone for SCULP, saying the program had encouraged her to expand her ambitions, refine the company’s vision and connect with other women founders.

Addressing MENA’s Female Funding Gap

The program comes as women-founded startups continue to receive a small share of venture funding across the region. According to figures provided by TiE Dubai, female-founded startups secured just $2.5 million in the first half of 2026, representing 0.14% of the region’s $1.7 billion in venture funding.

TiE Dubai said its program aims to narrow that gap through mentorship, funding access, visibility and regional networking.

Over the past four years, TiE Women MENA has supported more than 1,000 women-led businesses, curated over 350 pitches and awarded AED 380,000 in equity-free prize money. Globally, TiE Women has received more than 11,000 applications across 62 countries and accelerated over 500 women-led startups.

The MENA program is run by TiE Dubai and powered by Nokia, alongside partners TECOM, Dubai Internet City and in5 Innovation Centers.

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UAE Launches Ai Everything Abu Dhabi 2026, Connecting 150 AI Startups With Global Investors

The two-day AI event will connect more than 150 startups with over 200 investors managing $100 billion in assets, while showcasing emerging enterprise AI technologies.

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Ai Everything Abu Dhabi 2026 will bring more than 150 AI startups to the UAE capital on October 6 and 7, showcasing technologies spanning enterprise software, industrial safety, customer experience and sovereign AI.

Held at the ADNEC Centre, the event will bring together more than 400 global technology companies and startups. Its Ai StartX Everything showcase will connect founders with more than 200 investors from 30 countries representing $100 billion in assets under management.

Among the companies exhibiting are startups from Portugal, Singapore, Saudi Arabia, the UAE and the US, with products focused on moving AI deeper into enterprise operations.

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Enterprise AI Moves Into Critical Workflows

Portuguese AI-native software assurance company VisionHammer will showcase technology designed to diagnose and resolve problems within enterprise software while retaining human oversight.

Its platform can identify the root cause of an incident, generate and test a fix, and submit a pull request for approval. In one production deployment, VisionHammer said it reduced average incident resolution time from around five hours to four minutes.

The company will present CodeScan, which analyses code security with every release, and Assessment, a system for mapping and diagnosing enterprise software environments. Co-founder and COO Tiago Silva said demand is increasingly centred on AI that can operate reliably in critical systems while maintaining human control and auditability.

Singapore-headquartered Ailytics, meanwhile, will demonstrate AilyssaX, a vision-language-model-powered platform that converts existing CCTV networks into real-time industrial safety and operational intelligence.

Ailytics said it has completed more than 400 deployments across over 15 countries, with customers including Changi Airport Group, DHL, Laing O’Rourke and Obayashi. Following its recent Series A round, the company is expanding into the Middle East.

Gulf Startups Showcase Arabic and Sovereign AI

Saudi-based Lucidya will showcase its AI Agent and provide an early look at Agentic Workflows designed to automate customer journeys across enterprise systems.

The company said its Agentic CX Platform supports 17 Arabic dialects with more than 92% accuracy and uses billions of data points to interpret customer and market signals. Lucidya is also ISO/IEC 42001 certified and compliant with PDPL, GDPR and SOC 2.

Dubai-registered MetisJean will launch Jean 1001, its sovereign operating system for enterprise AI. The platform runs within a customer’s own infrastructure, makes its reasoning traceable to source material and records actions on an immutable, audit-ready ledger.

MetisJean said Jean can reduce token consumption by up to 90% in some applications. Founder and CEO Alexander Haywood said the company intends to build sovereign enterprise AI in the Gulf before taking the technology to international markets.

US-based Newrunio will also introduce Personal Super-Intelligence (PAI) 1.2 globally for the first time. The screen-aware floating AI agent operates within a user’s existing digital environment, providing contextual suggestions and executing tasks without requiring users to continually switch between applications.

Connecting AI Founders With Global Capital

Beyond product demonstrations, Ai StartX Everything will connect startups with investors, sovereign funds, enterprise buyers and technology companies through its Investor Programme.

The programme includes the Supernova AI Global Pitch Competition, where five finalists will pitch to investors and industry leaders for equity-free prizes.

Organised by inD, with Abu Dhabi’s Department of Government Enablement as Host Partner and Mubadala company Solutions+ as Global Partner, Ai Everything Abu Dhabi will also feature ATRC, First Abu Dhabi Bank and Hub71 alongside global technology companies including AWS, Alibaba Cloud, Microsoft, Mistral AI and ASUS.

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US Agentic Coding Platform Replit Acquires Egypt-Founded Analytics Startup Atta to Add Interactive Data Visualizations to AI Chat

Atta’s founders will join Replit as the US company integrates the startup’s business-analysis and data-visualisation technology into its platform.

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San Francisco-based AI software development platform Replit has acquired Atta, an Egypt-founded business analytics startup that helps users investigate company data and produce interactive visualisations.

The transaction was announced on September 25, 2026. Its financial terms were not disclosed.

As part of the acquisition, Atta co-founders Omar Shaik and Amine Ben Khalifa will join Replit, bringing the startup’s analytical expertise and purpose-built charting technology into the company’s broader product ecosystem.

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Bringing Interactive Charts Into Replit Chat

The first integration resulting from the acquisition is already available inside Replit’s conversational interface.

Users can open a Replit conversation, upload a dataset or connect an external data source, and ask the platform a business question. Replit then handles the underlying queries and analytical steps before presenting the results through interactive charts built using Atta’s technology.

Users can ask Replit Agent to “visualise this” or request a specific type of chart. The platform selects a visualisation based on the data and the question being investigated.

A waterfall chart could be used to explain a change in revenue, for example, while a heatmap could identify patterns in customer retention. Replit says users do not need to write SQL to conduct the analysis.

What Is Atta?

Atta was founded by Omar Shaik and Tunisian engineer and AI researcher Amine Ben Khalifa. The company initially emerged from Egypt before expanding its operations into Silicon Valley.

The startup developed an AI-powered business-analysis workspace intended to help employees investigate data, understand changes in company performance and communicate their findings without relying on separate technical or business-intelligence teams.

Its technology was designed to handle analytical decisions that users would otherwise need to make manually, including selecting the appropriate analytical method, choosing a chart format and preparing the resulting visualisation.

Atta’s charting system produces interactive and brand-consistent graphics whose labels, spacing and layouts adjust automatically when resized. The company positioned this capability as a way to reduce the manual work required to prepare charts and presentations for leadership meetings or internal updates.

Expanding Replit Beyond Software Creation

Founded in 2016, Replit enables users to build applications, websites and digital products using natural-language instructions.

The Atta acquisition extends the company’s platform beyond application development and into business data analysis. Replit wants users to move from asking questions about company performance to presenting findings and building tools or applications based on those insights within the same environment.

“Our mission is to make useful intelligence accessible to everyone,” Replit said in its announcement. “For businesses, that means giving the people closest to a problem the ability to investigate it, explain what they find, and act on their expertise.”

The company said its longer-term vision is to make data analysis part of everyday operational work rather than confining it to a standalone tool or specialist workflow.

From Business Questions to Operational Tools

Replit expects Atta’s technology to support workflows extending beyond one-time charts.

An analysis could eventually become a recurring report, generate presentation slides for a management review or inform the creation of an internal application, marketing campaign or product feature.

This model would connect data analysis with Replit’s existing application-building capabilities, allowing businesses to investigate a problem and develop a response within the same platform.

Shaik said Atta was founded to make business analysis more accessible to employees who understand operational problems but may not have the technical skills required to query data warehouses or select analytical methods.

Before the acquisition, Atta had worked with public companies using its platform to prepare quarterly business reviews and create documents connected directly to corporate data warehouses, according to Shaik.

Replit Continues Its International Expansion

The acquisition follows Replit’s opening of its first international office in London on September 8, 2026.

The London operation serves as the company’s European base and forms part of its efforts to expand its business among individuals, small companies and enterprise customers outside the United States.

Replit says it has more than 60 million users worldwide and is used by employees at 85% of Fortune 500 companies.

Following the Atta acquisition, Replit will focus on developing its new analytical capabilities beyond interactive charts. The company’s challenge will be to make business analysis accurate and reliable enough for operational decisions while maintaining the simplicity of a conversational interface.

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