Tas'heel Finance

What Tas'heel Finance does

Tas'heel Finance, legally United Company for Financial Services (UCFS), is a SAMA-licensed Saudi Arabian consumer finance company headquartered in Al Khobar and operating across the Kingdom through a hybrid digital and physical distribution model. Founded in 2019 with 71 employees, the company has grown to over 480 team members and 50+ branches spanning major Saudi cities including Riyadh, Jeddah, Dammam, Khobar, Makkah, Madinah, and Al-Ahsa. It is regulated by the Saudi Central Bank under license No. 52/Ash/201905 as a closed joint stock company with SAR 350 million paid-in capital, and operates under Sharia-compliant principles across its full product suite.

The company's product portfolio is anchored on three integrated offerings: Personal Finance, providing unsecured loans of up to SAR 250,000 over 24-60 months with APRs of 33.81%-36.47% and disbursement within 48 hours; Baseeta, a buy-now-pay-later service with revolving spending limits up to SAR 60,000 and 1-36 month installment plans at APRs of 48.72%-54.03%; and Tasheel-branded credit cards (World and Titanium tiers) with credit limits up to SAR 100,000, cashback rewards, and travel benefits. The platform is delivered through dedicated mobile applications, a web portal, and embedded merchant partnerships with ~20+ major Saudi retailers, healthcare providers, and travel platforms including Panda, Extra, Noon, Saudi German Hospital, Magrabi, Careem, Amazon, IHG, Mastercard Travel Pass, and others. Underlying technology includes instant approval workflows, Apple Pay and Mada Pay integrations, and digital onboarding that requires neither guarantor nor salary transfer.

Revenue is generated primarily through profit/interest margins on personal loans and BNPL plans, transaction fees and annual charges on credit cards, and merchant promotional economics. Go-to-market combines direct-to-consumer digital acquisition with branch-led sales across Saudi Arabia, supplemented by referral traffic through merchant partners. The company has raised approximately $130M cumulatively across two 2024-2025 funding rounds led by CI Capital and a subsequent undisclosed investor, and is led by CEO Sakhr bin Abdulrahman Al-Mulhim.

Name

Tas'heel Finance

Legal name

United Company for Financial Services

Website

https://tasheelfinance.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

251–500 employees

Short description

Tas'heel Finance is a SAMA-licensed Saudi Arabian fintech offering Sharia-compliant personal loans up to SAR 250,000, BNPL via Baseeta, and credit cards up to SAR 100,000. It serves Saudi consumers through a digital platform, a 50+ branch network, and merchant partnerships.

Ownership category

akta.pro rank

Product category

Consumer Finance

NAICS

Sales Financing (52222)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN)

Keywords

• Consumer finance services
• Sharia-compliant lending
• Buy now pay later
• Personal installment loans
• Islamic fintech

Headquarters

HQ city

Jeddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Personal Finance: Provides personal loans up to SAR 250,000 with repayment periods from 24 to 60 months, generating revenue through interest/profit rates and administrative fees
2. Credit Cards: Issues World and Titanium credit cards with credit limits up to SAR 100,000, earning revenue through transaction fees, profit margins, and annual charges
3. Baseeta (BNPL): Buy Now Pay Later installment service allowing purchases to be split across 1-36 monthly payments, generating revenue through profit rates on extended payment plans
4. Installment Financing: Provides installment financing for purchases up to SAR 60,000 with flexible payment plans

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Tas'heel Finance is a SAMA-licensed Saudi fintech (operating as United Company for Financial Services) that provides Sharia-compliant personal finance loans up to SAR 250,000, a Buy Now Pay Later service called Baseeta with revolving spending limits and 1–36 month installments, and two credit card tiers (World and Titanium) with limits up to SAR 100,000. All products are delivered through a digital-first platform with instant approval and 48-hour disbursement, supported by a 50+ branch network across Saudi Arabia.

Product overview

Tasheel Finance (United Company for Financial Services) operates as a unified digital-first fintech platform offering three integrated financial products: Personal Finance (personal loans up to SAR 250,000), Baseeta (a BNPL/buy-now-pay-later service with a revolving spending limit usable at partnered merchants and anywhere in Saudi Arabia and internationally), and Credit Cards (two tiers — World and Titanium — offering credit limits up to SAR 100,000 with cashback, airport lounge access, and lifestyle rewards). All products are fully digital, require no guarantor or salary transfer, are Sharia-compliant, and are regulated by the Saudi Central Bank (SAMA) under license No. 52/Ash/201905. The company operates through its mobile app, web portal, and a network of over 50 branches across Saudi Arabia.

Differentiator

Problem solved

Functional benefit

Brands

• Baseeta: Buy Now, Pay Later (BNPL) service that allows customers to split their bills into flexible payment plans from 1 to 36 installments without a down payment, available for purchases at partner merchants and anywhere inside and outside Saudi Arabia.

Products and services

• Personal Finance (التمويل الشخصي) Unsecured Sharia-compliant personal finance loan for Saudi citizens and residents, offering cash up to SAR 250,000 with fully online application, instant approval, and funds disbursed to the customer's bank account within 48 hours. Repayment terms range from 24 to 60 months and no guarantor or salary transfer is required. Minimum salary requirement is SAR 4,500.
• Baseeta (بيسطة) BNPL Buy Now Pay Later (BNPL) service that lets customers split purchases into 1 to 36 monthly installments without a down payment at partnered merchants across Saudi Arabia and internationally. Provides a recurring credit balance that replenishes as the customer repays, and supports Apple Pay and Mada Pay tokenization for in-store and online payments.
• Tasheel World Credit Card (بطاقة وورلد) Premium Sharia-compliant credit card with a credit limit up to SAR 100,000, offering cashback up to 2.25% on all purchases, free access to 1,200+ airport lounges worldwide via Mastercard Travel Pass, exclusive hotel and lifestyle discounts, complimentary Careem airport rides, and free Amazon Prime subscription (promotional). No annual fees for the first year.
• Tasheel Titanium Credit Card (بطاقة تيتانيوم) Sharia-compliant credit card with limits ranging from SAR 2,000 to SAR 100,000, offering up to 20% discounts at clothing, lifestyle and entertainment brands, preferential rates on car rentals and hotel bookings, free access to 100+ airport lounges, and flexible minimum monthly payments starting from 5%. Minimum salary requirement is SAR 4,000.

Quantifiable outcome

• Personal finance disbursed within 48 hours
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

20 partnerships are on record, tiered core and minor.

• PandacoreChannel Partner/ Reseller/ DistributorMajor retail partner offering 0% profit installment promotions on grocery purchases through the Baseeta BNPL platform. Customers can split purchases at Panda stores with promotional offers.
• ExtracoreChannel Partner/ Reseller/ DistributorElectronics and appliances retailer with installment financing options through Tasheel Finance. Offers flexible payment plans for electronics purchases.
• NooncoreChannel Partner/ Reseller/ DistributorE-commerce platform partner offering cashback promotions: 10% up to SAR 50 for new users, 5% up to SAR 10 for existing users using promo code BASEETA.
• NamshiminorChannel Partner/ Reseller/ DistributorFashion e-commerce partner with exclusive offers: 20% off for new users, 5% off for existing users.
• 6thStreetminorChannel Partner/ Reseller/ DistributorFashion and lifestyle retailer partner offering 15% discount for new users, 5% for existing users with code BASEETA.
• CareemcoreGTM or Marketing PartnerFree airport ride benefit for Tasheel World credit card holders. Cardholders can get complimentary rides to/from airports using Careem app with promo code MAKSA2.
• Mastercard (Travel Pass)coreTechnology or IntegrationPartnership enabling Tasheel cardholders free access to 1,200+ airport lounges worldwide through the Mastercard Travel Pass app.
• Saudi German HospitalminorChannel Partner/ Reseller/ DistributorHealthcare provider offering 0% profit installment payment plans for medical services through Baseeta.
• AmazoncoreGTM or Marketing PartnerCredit card partnership offering free Amazon Prime subscription and SAR 300 Amazon voucher for international purchases worth SAR 3,000+ using Baseeta.
• IHG HotelsminorGTM or Marketing PartnerCredit card benefit offering 15% discount on IHG resort and hotel bookings for Tasheel cardholders.
• Trip.comminorGTM or Marketing PartnerTravel partner offering up to 15% off bookings at Trip.com for Tasheel credit card holders.
• SacominorChannel Partner/ Reseller/ DistributorElectronics and home appliances retailer with installment financing options through Tasheel Finance.
• GapminorChannel Partner/ Reseller/ DistributorFashion retailer partner with installment and promotional offers using Baseeta.
• Level ShoesminorChannel Partner/ Reseller/ DistributorLuxury footwear retailer with promotional installment offers.
• Under ArmourminorChannel Partner/ Reseller/ DistributorSportswear retailer partner with installment payment options.
• Magrabi HospitalminorChannel Partner/ Reseller/ DistributorHealthcare provider offering installment payment plans for optical and medical services.
• BloomingdalesminorChannel Partner/ Reseller/ DistributorDepartment store partner with promotional codes for discounts on full-price items.
• Virgin MegastoresminorChannel Partner/ Reseller/ DistributorElectronics and entertainment retailer with installment financing options.
• AiralominorGTM or Marketing PartnereSIM provider offering up to 15% discount for Tasheel credit card holders on international data plans.
• Medical Tourism Concierge (Vaidam)minorGTM or Marketing PartnerMedical tourism service partner offering up to 10% discount on medical treatments at partner hospitals worldwide.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nayifat Finance: Saudi-listed consumer finance company offering Sharia-compliant personal loans and installment financing to individuals and SMEs. Closest direct competitor to Tas'heel in the Saudi non-bank consumer finance space with overlapping product set and regulatory regime (SAMA).
• Tamara: Saudi-headquartered BNPL platform offering installment payments at merchant checkout. Direct competitor to Tas'heel's Baseeta BNPL across the same KSA merchant base (Panda, Noon, etc.) with similar Sharia-compliant structure.
• Tabby: Leading MENA BNPL platform headquartered in Saudi Arabia/UAE, offering split-pay installments at major regional retailers and e-commerce platforms. Direct competitor to Baseeta with overlapping merchant acceptance and target demographic.
• Cashee: UAE/Saudi BNPL and digital payments platform targeting younger consumers with installment plans. Comparable BNPL offering and regional merchant footprint, competing for the same digital-native Saudi customer.

Broad incumbents

• Al Rajhi Bank: Largest Islamic bank in Saudi Arabia with extensive personal finance, credit card, and installment product portfolio. Competes with Tas'heel on personal loans and credit cards through its rapidly expanding digital channels, but operates at much greater scale with deposit funding.
• Alinma Bank: Saudi Sharia-compliant bank offering personal financing, credit cards, and installment products with a strong digital channel push. Comparable Sharia-compliant positioning and Saudi consumer credit focus makes it a relevant broad competitor.
• Bank AlJazira: Saudi Sharia-compliant bank with growing personal finance and digital retail banking offerings. Competes with Tas'heel for Saudi personal loan and credit card customers, particularly through its digital transformation initiatives.

Others

• Saudi National Bank (SNB): Saudi Arabia's largest bank by assets formed from the NCB/Samba merger, offering personal finance, credit cards, and increasingly digital lending products. Broad incumbent competitor across Tas'heel's full product suite with significant cost-of-funds advantages.

Emerging players

• stc bank: Digital bank launched by Saudi Telecom Company (stc) offering digital wallets, payments, and consumer credit products. Emerging Saudi fintech with strong digital distribution that could compete with Tas'heel's digital-first onboarding experience.
• Jeel Pay: Saudi-based BNPL and consumer fintech offering installment plans for retail and digital purchases. Niche emerging player with overlapping BNPL positioning and Saudi merchant focus, though smaller in scale than Tas'heel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TasheelFinance
• YouTubeyoutube.com/channel/UC_nnPjw7hCwXmW6WfPYIbiQ
• Facebookfacebook.com/TasheelFinance
• LinkedInlinkedin.com/company/united-company-for-financial-services-tasheel-finance/?viewAsMember=true
• Instagraminstagram.com/tasheelfinance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tas'heel Finance