Shared 9 February, 2026
Safqah Capital has raised $15.2 million in a seed funding round, as it builds financing infrastructure for SME real estate developers across the Kingdom.
The round was led by Shorooq, anb Seed Fund, and Rua Growth Fund, with participation from Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and others. More than 12 institutional and venture investors participated in the round.
Safqah provides structured, Shariah-compliant debt financing tailored specifically to developers, supported by real estate underwriting, milestone-based disbursement, and digital project monitoring. The company is authorised by Saudi Arabia’s Capital Market Authority (CMA) to offer and enable investment in debt instruments.
“Banks were not built for the developers we were serving,” said Abdullah Alsubaie, co-founder and CEO of Safqah. “We built an ecosystem that allows developers to access capital faster, accelerate project delivery, and improve capital efficiency, while strengthening risk controls for all stakeholders.”
“Safqah is foundational infrastructure, not just another lending platform,” said Shane Shin, founding partner at Shorooq. “They’ve built a model that matches the pace of development in Saudi Arabia while meeting regulatory and institutional standards.”
The founding team brings experience across real estate, capital markets, and technology. Alongside Alsubaie, the team includes Karim Merie (Chief Business Officer, formerly of NHC), Abdulmalik Alothman (Chief Financial Officer, previously involved in the ELM IPO), and Omar Alessa (Chief Technology Officer, with startup experience across Silicon Valley and London).
The new capital will be used to expand Safqah’s financing capacity, enhance its digital platform, and deepen its use of AI-driven underwriting and risk tools.
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*Offer ends on Friday, 7th February.
