ShopUp’s parent company SILQ has raised $100 million in funding for its embedded finance arm Fina to enhance financial support for Saudi Arabian merchants.
The B2B commerce platform received the investment from Fasanara Capital, Gemcorp Capital, and Amwal Capital Partners, as announced in a press release.
Embedded finance involves incorporating financial services like loans and working capital directly into non-financial digital processes such as e-commerce and supply chain management.
Fina will utilize the funds in the Saudi market to broaden merchants’ access to working capital by integrating financing into their digital operations for purchasing, selling, and business management.
In 2025, ShopUp and Saudi Arabia’s Sary joined forces to establish SILQ.
Mohammed Aldossary, co-founder and CEO of SILQ Financial Services, stated, “Fina was developed to meet our merchants’ capital needs based on their operational requirements, not to become a financial services entity.”
ShopUp has also contributed to regional trade growth by expanding Bangladesh’s food exports, including shipping 470 tons of rice to Saudi Arabia and the UK, as well as exporting vegetables and fruit to Gulf markets.
Founded in Dhaka in 2017, ShopUp is a prominent B2B commerce platform that provides small merchants with wholesale sourcing options through Mokam, nationwide logistics services via REDX, and integrated digital financing solutions.
