Beehive, the Middle East’s pioneering digital SME lending platform, has signed a non-binding offer letter with Themar, a licensed crowdfunding platform in Saudi Arabia, in a move that could reshape the Kingdom’s private credit landscape. The proposed partial M&A, which remains subject to regulatory approval, would establish Beehive as a regulated fintech lender in Saudi Arabia, expanding its presence in one of the region’s most dynamic SME markets.
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By bringing together Beehive’s proven digital lending technology and Themar’s local expertise and regulatory foundation, the collaboration aims to create a powerful new platform for SME financing. For Saudi businesses, this could mean faster, more accessible, and Shariah-compliant funding solutions, offering a modern alternative to traditional banking channels.
The partnership also dovetails with Saudi Arabia’s Vision 2030, which has made SME lending a cornerstone of the Kingdom’s economic diversification and private sector growth agenda. By integrating technology-driven financing with strong local oversight, Beehive and Themar hope to empower entrepreneurs to scale their businesses and play a greater role in shaping the Kingdom’s future economy.
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For Pete Tavener, Co-Founder & Group CFO & COO of Beehive, the agreement represents more than just growth. “This merger is a milestone not only for Beehive but for the wider SME ecosystem in Saudi Arabia,” he said. “By combining our technology and experience with Themar’s local expertise and regulatory strength, we’re building a platform that can transform SME financing and play a vital role in advancing Vision 2030.”
This partnership between Themar and Beehive is more than a merger—it’s a catalyst for SME growth across Saudi Arabia,” he said. “By working together, we will deliver innovative, Shariah-compliant, and accessible financing solutions that empower businesses to expand and actively contribute to the Kingdom’s economic transformation
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If approved, the collaboration would mark a pivotal step in the evolution of Saudi Arabia’s fintech ecosystem—one that places SMEs at the heart of innovation, growth, and long-term economic resilience.
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