Beehive, the Middle East’s pioneering digital SME lending platform, signed a non-binding offer letter with Themar, a licensed crowdfunding platform in the Kingdom of Saudi Arabia.
The strategic move marked a key step toward establishing Beehive as a regulated fintech lender in Saudi Arabia, further strengthening its presence in one of the region’s fastest-growing SME markets.
The proposed partial merger and acquisition, subject to regulatory approval, represented an important development for the evolution of private credit in the Kingdom.
By combining Beehive’s proven digital lending technology and regional experience with Themar’s regulatory foundation and local market expertise, the partnership positioned the new entity to expand access to financing for small and medium-sized enterprises (SMEs) across Saudi Arabia.
SMEs are a central pillar of Saudi Arabia’s Vision 2030 economic diversification strategy, which aims to increase SME contribution to the Kingdom’s GDP and strengthen private sector growth. The collaboration between Beehive and Themar aimed to support these ambitions by delivering faster, digital and more accessible financing solutions to businesses that are often underserved by traditional lending channels.
Beehive has built a strong track record across the GCC, facilitating over $1B in SME financing and supporting thousands of businesses with transparent, technology-driven lending solutions. Themar, meanwhile, has established itself as a regulated crowdfunding platform in Saudi Arabia, connecting investors with businesses seeking Shariah-compliant financing opportunities.
Pete Tavener, CEO and Co-Founder at Beehive, said: “This M&A was a milestone not only for Beehive but also for the broader SME ecosystem in Saudi Arabia. By combining our capabilities with Themar’s local presence and regulatory standing, we created a powerful platform that enhanced SME financing in the Kingdom while supporting the ambitions of Vision 2030.”
Yousef Al Dabbagh, Co-Founder & COO at Themar, added: “Our partnership with Beehive represented more than a merger; it served as a catalyst for advancing SME growth across Saudi Arabia. Together, we delivered innovative, Shariah-compliant and accessible financing solutions that enabled businesses to scale and contribute to the Kingdom’s economic transformation.”
The collaboration marked a significant step in expanding digital lending and private credit solutions in Saudi Arabia, helping entrepreneurs access efficient, scalable financing to support their growth and long-term success.
NOTE: This article is a PR sponsored by Beehive, a e& enterprise company.
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