Riyadh - Sharikat Mubasher: Themar, the first P2P purchase financing company, has officially launched its platform to offer debt-based crowdfunding solutions for small and micro enterprises in compliance with the Shariah, the company revealed.

Corporates and individuals are now able to register through the platform to benefit from the upcoming projects.

In August, Themar obtained the license from the Saudi Central Bank (SAMA) to provide crowdfunding solutions, raising the number of the authorized companies offering debt-based crowdfunding solutions in Saudi Arabia to seven.

Amer Siddiki, the Co-founder and CEO of Themar, stated that SAMA’s license to offer crowdfunding solutions reflects the company’s commitment to innovate, empower small and micro enterprises, and thrive the Kingdom’s economy.   

Themar aims to foster the Saudi economy through creating opportunities for all enterprises and investors, notably through providing finance for enterprises’ purchases.

The official launch came in line with the expansion of the small and medium-sized enterprises (SMEs) financing market, and the increase in the enterprises number that reached one million.

Meanwhile, Yousef AlDabbagh, the Co-founder and COO at Themar, affirmed that the company believes that the SMEs play a pivotal role in enhancing the national economy.

Moreover, AlDabbagh noted that obtaining the license and launching the platform would enable Themar to reshape the SMEs financing sector in the Kingdom.