Saudi Fintech-Proptech Safqah Capital Raises $15.2M in Seed Funding

Riyadh-based fintech and proptech platform Safqah Capital has raised $15.2 million in a seed funding round to scale its Shariah-compliant debt financing offering for small and medium-sized real estate developers. The round was led by Shorooq, anb Seed Fund and Rua Growth Fund, with participation from Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital and other investors.

Co-founded by Abdullah Alsubaie, Karim Merie, Abdulmalik Alothman and Omar Alessa, Safqah focuses on addressing a key constraint for SME developers: limited access to Shariah-compliant debt that can move projects from planning into execution. The company is authorised by Saudi Arabia’s Capital Market Authority to offer and enable investment in debt instruments.

Safqah’s platform combines real estate underwriting, structured financing and developer-focused software into a single workflow. Developers use the system to manage projects and capital, while investors access diversified opportunities supported by structured underwriting and data-backed reporting. The platform also applies data analytics and artificial intelligence to enhance project monitoring, improve decision-making and increase transparency across funded developments.

With the new funding, Safqah plans to expand its product offering, develop more advanced AI tools for risk assessment and underwriting, and increase its financing capacity to support a larger number and size of real estate projects.