Beehive, the Middle East’s pioneering digital SME lending platform, has signed a non-binding offer letter with Themar, a licensed crowdfunding platform in the Kingdom of Saudi Arabia. This strategic move looks to officially establish Beehive as a regulated fintech lender in the Kingdom, significantly strengthening its presence in one of the region’s most dynamic SME markets.
The proposed M&A, subject to regulatory approval, represents a transformative step for private credit in Saudi Arabia. By uniting Beehive’s proven digital lending technology and regional track record with Themar’s regulatory foundation and local expertise, the combined entity is uniquely positioned to address the SAR500 billion (USD$133.3 billion) SME financing gap in the Kingdom.
This collaboration aligns with Saudi Arabia’s Vision 2030, which aims to expand SME lending and strengthen private sector growth as a key driver of economic diversification. The integration of Beehive and Themar will empower entrepreneurs with fast, digital, and accessible funding solutions, offering a scalable alternative to traditional banking channels.
Pete Tavener, Co-Founder & Group CFO & COO, Beehive said: “This M&A will be 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 will be creating a powerful platform that will transform SME financing in the Kingdom and support Vision 2030.”
Yousef H. Al Dabbagh, Co-Founder & COO, Themar, commented: “The partnership between Themar and Beehive is more than just a merger; it’s a catalyst for advancing SME growth across Saudi Arabia. Together, we will deliver innovative, Shariah-compliant, and accessible financing solutions that enable businesses to grow and contribute to the Kingdom’s economic transformation.”
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