What manafa does

Manafa (منافع) is a Saudi Arabia-based Shariah-compliant debt crowdfunding platform founded in 2021 and licensed by the Saudi Central Bank (SAMA) under license 64/A SH/202211. The company operates as a closed joint-stock company headquartered in Riyadh with SAR 40 million paid-up capital, employing 190+ staff to run a dual-sided marketplace that connects Saudi SMEs and large enterprises seeking financing with individual and institutional investors seeking Shariah-compliant returns. As of 2025, the platform reports 200,000+ users, approximately 178,000+ clients, and SAR 3.2 billion+ in cumulative financing facilitated. Its flagship relationship is the supply chain finance program operated for Aramco, which the company describes as the world's largest Shariah-compliant supply chain finance program, alongside a parallel partnership with Saudi Electricity Company.

The platform offers seven core financing products — invoice financing, purchase order financing, payroll financing, letter of guarantee financing, real estate development financing, working capital financing, and supply chain financing — all targeting a 48-hour approval cycle. Underlying technology integrates with 40+ Saudi government and private entities (Simah, Bayan, Nafith, Thiqah, Absher, Ministry of Commerce, GOSI, Elm, ANB, Saudi Post, and Mudad for payroll) via APIs and SFTP for real-time data verification. Investors access opportunities starting from SAR 1,000 with stated returns up to 18%, supported by an Automated Investment recommendation engine, a proprietary credit-rating system (AA through F tiers), and engagement modules including Smart Goals, a tiered Loyalty Program (Gold, Platinum, Elite), and an invite-a-friend referral program.

Manafa monetizes through Murabaha (cost-plus) profit margins on financing with annual percentage rates ranging from 6% to 20% depending on creditworthiness, administrative fees of up to 3% of financing value across products, and credit-rating analysis services. Distribution combines a product-led self-serve digital platform (web plus iOS, Android, and Huawei apps) with an enterprise field-sales motion targeting large corporate buyers such as Aramco and Saudi Electricity, who onboard their supplier ecosystems. The platform extends its reach through co-financing programs with SME Bank, Tourism Development Fund, SIDF, Saudi National Bank, Saudi Awwal Bank, and JPMorgan Chase, with no disclosed activity outside Saudi Arabia.

Name

manafa

Legal name

شركة منافع للتمويل الجماعي بالدين (Manafa for Debt Crowdfunding Finance Company)

Website

https://manafa.sa

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Manafa (منافع) is a Saudi SAMA-licensed Shariah-compliant debt crowdfunding platform founded in 2021 that connects SMEs and large enterprises with retail and institutional investors, offering invoice, supply chain, payroll, and working capital financing across Saudi Arabia.

Ownership category

akta.pro rank

Product category

Debt-based Crowdfunding

NAICS

Sales Financing (52222)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Debt crowdfunding platform
• Sharia-compliant financing
• Supply chain finance
• Invoice financing services
• SME lending platform

Headquarters

HQ city

Al Manqaf

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Murabaha Profit Margin: Platform earns profit through Murabaha (cost-plus financing) arrangements where goods are purchased and resold at a markup. Annual percentage rates range from 6% to 20% depending on creditworthiness and product type.
2. Administrative Fees: Administrative fees charged as percentage of financing amount, up to 3% of financing value across all products (invoices, PO, payroll, letter of guarantee, real estate, working capital)
3. Credit Rating Analysis Services: Credit analysis and rating services provided to investors to assess risk levels (AA through F ratings) of financing opportunities

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Manafa operates a SAMA-licensed, Sharia-compliant debt-based crowdfunding platform that connects businesses seeking financing with individual and institutional investors. The platform offers seven financing products (invoice, purchase order, payroll, letter of guarantee, real estate, working capital, and supply chain financing) alongside a parallel investment platform delivering returns up to 18% with automated matching and credit rating-based risk assessment. All transactions are structured as Murabaha (cost-plus) contracts approved by a dedicated Sharia committee, with automated credit evaluation against 40+ government and private data sources enabling 48-hour approval turnaround.

Product overview

Manafa operates as a Shariah-compliant debt crowdfunding fintech platform offering a portfolio of interconnected financing and investment products. The core platform serves two primary user segments: businesses seeking financing and investors seeking returns. On the financing side, Manafa offers seven distinct products — Invoice Financing, Purchase Order Financing, Payroll Financing, Letter of Guarantee Financing, Real Estate Development Financing, Working Capital Financing, and Supply Chain Financing — all with approval within 48 hours and compliant with Islamic law. On the investment side, the platform provides an Investment Platform where investors access short-term debt opportunities starting from SAR 1,000 with returns up to 18%, supported by add-on modules including Automated Investment, Smart Goals, a Loyalty Program, Invite-a-Friend referral, Performance Analytics, and a Credit Rating System. The platform also operates three supply chain financing portals (Buyer, Supplier, and Funder) serving enterprise supply chain ecosystems. Strategic partnerships extend the product range through SME Bank, the Tourism Development Fund, and the Aramco Taleed program. The company holds a license from the Saudi Central Bank (SAMA) and is regulated under license number 64/أ ش/202211.

Differentiator

Problem solved

Functional benefit

Products and services

• Invoice Financing (تمويل الفواتير) Provides liquidity by financing up to 80% of approved customer invoices for SMEs, supporting up to SAR 7.5 million with repayment terms up to 12 months and 48-hour approval.
• Purchase Order Financing (تمويل أوامر الشراء) Provides working capital to execute customer purchase orders without upfront payments, financing up to 80% of order value for government, semi-government, and private sector orders up to SAR 7.5 million for SMEs.
• Payroll Financing (تمويل الرواتب) Covers 100% of monthly payroll to ensure timely salary disbursements, with Mudad platform integration and repayment terms up to 6 months.
• Letter of Guarantee Financing (تمويل خطابات الضمان) Issues tender, final, and advance payment guarantees without affecting company liquidity, covering up to 80% of guarantee value with flexible repayment up to 36 months.
• Real Estate Development Financing (التمويل العقاري) Financing for land purchase and residential development projects, disbursed in stages aligned with construction progress, providing up to SAR 200 million with repayment tied to actual sales.
• Working Capital Financing (تمويل رأس المال العامل) Uncapped financing for large enterprises determined by comprehensive credit assessment, providing liquidity for daily operating costs with faster refinancing and no administrative fees on refinancing.
• Supply Chain Financing (تمويل سلاسل الإمداد) Platform connecting suppliers, buyers, and financiers to enable early invoice payment at competitive rates, linking major local and international banks and government funds to provide automated supply chain financing for buyers like Aramco and SEC.
• Investment Platform (منصة الاستثمار) Sharia-compliant debt crowdfunding platform enabling individual and institutional investors to invest in short-term financing opportunities starting from SAR 1,000 with returns up to 18% and durations of 3-12 months.
• Buyer Portal (بوابة المشترين) Supply chain financing module for large buyers (e.g., Aramco, SEC) enabling them to support supplier cash flow through early payments while maintaining control over invoicing and payment terms, with ERP integration.
• Supplier Portal (بوابة الموردين) Supply chain financing module enabling approved suppliers to request early payment of approved invoices without promissory notes, converting receivables into immediate working capital based on buyer creditworthiness.
• Funder Portal (بوابة الجهات التمويلية) Supply chain financing platform for banks, international financiers, and government funds to participate in financing programs, offering volumes up to SAR 250 billion annually across 15,000+ suppliers with full operational management by Manafa.
• Manafa Business App (تطبيق منافع للأعمال) Mobile application for businesses to submit financing requests, track status, and manage all financial operations, available on iOS App Store and Google Play Store.
• Manafa Investor App (تطبيق منافع للمستثمرين) Mobile application for investors to explore opportunities, track portfolio performance, and manage investments, available on iOS App Store, Google Play Store, and Huawei AppGallery.
• SME Bank Program (برنامج بنك المنشآت الصغيرة والمتوسطة) SME financing program in partnership with the Saudi Small & Medium Enterprises Bank, offering competitive rates and financing limits up to SAR 7.5 million with 48-hour approval for qualifying SMEs.
• Tourism Development Fund Program (برنامج صندوق التنمية السياحي) Financing program for micro and small enterprises in the tourism sector, in partnership with the Tourism Development Fund, offering financing from SAR 10,000 to SAR 2,000,000 with flexible repayment up to 12 months.
• Aramco Taleed Program (أرامكو تلّيد) SME empowerment program within the Aramco ecosystem covering project, manufacturing, and services sectors, offered jointly by Aramco Taleed, SME Bank, and Manafa, providing financing up to SAR 7.5 million for SMEs.

Quantifiable outcome

• Financing approval within 48 hours
• +5 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered minor, flagship and core.

• Len Business Services (لين لخدمات الأعمال)minorStrategic or Co-development Partner · 1 July 2026MOU signed to provide financing solutions for healthcare establishments through invoice financing integration.
• Aramco (أرامكو)flagshipStrategic or Co-development PartnerFlagship partnership for supply chain financing program. Manafa operates the largest Sharia-compliant supply chain finance program in the world for Aramco. Aramco's registered suppliers can access early payment through the platform.
• Saudi Electricity Company (السعودية للكهرباء)coreStrategic or Co-development PartnerSupply chain financing partnership enabling Saudi Electricity's suppliers to receive early payment for approved invoices.
• SME Bank (بنك المنشآت الصغيرة والمتوسطة)coreStrategic or Co-development PartnerPartnership to provide financing solutions for SMEs in Saudi Arabia with competitive pricing and flexible terms up to 7.5M SAR.
• Tourism Development Fund (صندوق التنمية السياحي)coreStrategic or Co-development PartnerPartnership to provide financing for micro and small enterprises in the tourism sector. Financing ranges from 10,000 SAR (micro enterprises) to 500,000 SAR (micro) and up to 2M SAR (small enterprises).
• Aramco Taleed (أرامكو تليد)coreStrategic or Co-development PartnerProgram enabling SMEs within the Aramco ecosystem (service providers, manufacturers, construction contractors) to access financing through Manafa and SME Bank.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Raqamyah: Saudi P2P invoice financing platform providing working capital to SMEs through a marketplace model. Closely comparable to Manafa's invoice financing product and serves the same SME customer base with similar Sharia-compliant Murabaha structure.
• Funded: SAMA-licensed Saudi fintech offering Sharia-compliant SME financing through digital channels. Directly competes with Manafa in the same regulatory and product category for Saudi SME borrowers.
• Lendo: Saudi-based Sharia-compliant debt crowdfunding platform also licensed by SAMA, offering invoice financing and working capital to SMEs. Directly competes with Manafa in the same regulatory category and target customer base, with similar business model.
• Barshare: Saudi debt-based crowdfunding platform offering invoice and supply chain financing to SMEs. Competitor in the same SAMA-licensed cohort as Manafa, with comparable product set and target market.

Emerging players

• Yaqut: Saudi fintech offering digital lending and Sharia-compliant financing to SMEs in Saudi Arabia. Emerging player in the same product category as Manafa with narrower scale and product set.
• Modas: Saudi fintech focused on SME financing and supply chain solutions. Less mature than Manafa but targets overlapping SME customer segments in Saudi Arabia with digital lending offerings.

Others

• Luluvise: Saudi fintech ecosystem player offering adjacent services to SMEs including financial management tools. Treated as an ecosystem peer rather than direct competitor, given limited overlap in core lending products.

Broad incumbents

• MarketFinance: UK-based invoice financing and business lending platform. Strongly comparable on product set (invoice financing, supply chain finance) and target SME segment, though operating in a different regulatory regime.
• Funding Circle: UK-listed global P2P lending platform serving SMEs with invoice financing and term loans. Comparable to Manafa on business model and customer base, but operates at much larger scale across multiple geographies.

Regional players

• Beehive: UAE-based peer-to-peer lending platform serving SMEs across the MENA region. Operates a similar marketplace lending model to Manafa but is primarily UAE-focused and serves as a regional comparable rather than direct Saudi competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/manafa_co
• LinkedInlinkedin.com/company/manafa-co
• Instagraminstagram.com/manafa_co

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about manafa