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SME Lending Platforms Review & Features Comparison
Overview
The chart below highlights the core features offered by Funding Souq versus Raqamyah.
Both are shariah-compliant crowdfunding platforms that offer financing solutions to SMEs and healthy returns for investors.
One of the key differences is geography: Raqamyah is restricted to Saudi-based investors and Saudi-based businesses.
Funding Souq offers both a Saudi-based platform and a UAE-based platform that’s also open to global investors.
The other differences are more subtle, but still worth noting. Below we’ve highlighted what you need to know about each platform to make a smart decision.
Features Comparison
For Investors
|
Platform Feature |
Funding Souq | Raqamyah |
|
Who can invest? |
- Funding Souq’s KSA platform can onboard only Saudi nationals and residents as per Saudi Central Bank regulation.
- Funding Souq’s Global (UAE) platform can onboard nearly all nationalities, allowing almost anyone to invest in UAE-based businesses. |
Raqmyah’s platform can only onboard Saudi nationals and residents. |
|
What is the minimum investment? |
The minimum investment is SAR/AED 1,000, or approximately $270. | The minimum investment is SAR 1,000 ($270). |
| What is the maximum investment? |
In Saudi Arabia
In The UAE |
Retail investors can invest up to SAR 250,000 per year and up to 25% of any opportunity’s total requested amount.
|
|
What returns can investors expect? |
Investors in 2024 earned an average annual return of 15% after accounting for fees.This equates to an IRR of 30.
To understand the difference between yield and IRR read our blog here. |
Investors in 2024 earned an average annual return of 13.39 percent after accounting for fees. |
|
When are investors paid? |
Monthly |
At the end of the loan period |
|
What are the fees for investors?
|
Zero hidden fees.
The returns displayed on the platform are net of any applicable fees. The presented return is what you should expect to earn. |
Investors pay an administrative fee of 0.167% per month on the outstanding investment amount. |
|
Does the platform have an Auto-Investment option? |
Yes.
Once enabled, the Auto-Invest system will automatically allocate your available funds into new opportunities based on your selected investment strategy. |
Yes.
An automatic investment option will distribute your investments according to your selected investment strategy. |
For Businesses
|
Platform Feature |
Funding Souq | Raqamyah |
|
Who is eligible for borrowing? |
- Any established business in the Saudi Arabia or the UAE with a minimum of two years of trading.
- The business should have SAR / AED 2 million of revenue and be profitable or on path to profitability. |
Saudi-based SMEs that have financial statements for at least two years, are in the profit-making phase, and have cash flows that enable them to meet their financial obligations. |
|
What is the maximum financing duration? |
Request financing for periods of 3-24 months. |
Request financing for periods of 3-24 months |
|
What level of financing is available? |
Typically between SAR/AED 100,000 to 1,000,000, but up to a maximum of SAR/AED 7.5 million. | Up to SAR 7.5 million |
|
What are the fees for borrowers?
|
- Administration fees: 2% to 3% - Monthly profit rate: 1% to 1.5% |
Arrangement fees from 2% to 5% based on the risk grade, duration and requested amount. As well as:
For Inventory and Invoice Finance : a one-off fee of 1% per invoice written and a one-off documentation fee of SAR 2,000 |
|
How long does it take to get a funding decision?
|
Typically within 72 hours. | Typically within 72 hours. |
|
Are multiple funding facilities permitted? |
Yes. | Yes. |
|
Can you repay funds early without penalties?
|
Yes. | Yes. |
|
Are all finance and investment operations sharia-compliant?
|
Yes. You can find more details about our Shariah certification here |
Yes. |
Invest with no hidden fees and get returns of up to
26%
Up to
26%
return by financing SMEs