Tali Ventures, the corporate venture capital arm of stc group, has led a strategic funding round in Tarmeez Capital, one of Saudi Arabia’s fastest-growing fintech firms operating in the sukuk and debt instruments sector — a market playing an increasingly vital role in strengthening the Kingdom’s capital markets. This milestone marks the company’s transition from a successfully bootstrapped business to one backed by a leading national investor. The investment aligns with stc group’s wider strategy to support high-growth digital platforms shaping the future of finance and enhancing the Kingdom’s financial services ecosystem.
Tarmeez Capital, licensed by the Capital Market Authority (CMA), offers end-to-end digital financing services for businesses across multiple industries. Its Sharia-compliant sukuk products are open to both institutional and retail investors. To date, the company has facilitated financing programmes worth over US$533 million and opened access to more than 180,000 users. Over the past year alone, it has grown sukuk issuances by 459 percent. Through the use of proprietary technology and advanced data analytics, Tarmeez Capital streamlines sukuk issuance processes seven times faster than traditional channels, delivering efficiencies for both businesses and investors.
This investment arrives amid a period of rapid growth in Saudi Arabia’s corporate debt market, which reached US$37.3 billion in 2024. Issuances via CMA-licensed digital platforms surged to US$933 million, up 127.36% year-on-year, with the number of issuances rising to 4,527, representing a 317.62% increase from 2023. Backing from stc group is expected to fuel Tarmeez Capital’s continued expansion, helping to scale its services and deliver innovative financial solutions to a growing market.
Majed Al Jarboua, General Manager of Corporate Fund and Entrepreneurship at stc group, stated:
“Tarmeez Capital is gaining ground in a sector becoming central to how companies access capital in Saudi Arabia. stc group is proud to support a homegrown fintech that’s pushing the boundaries of digital finance. This investment represents a strategic move to scale the next generation of financial infrastructure.”
Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, commented:
“This investment marks a pivotal moment for Tarmeez Capital as we expand our offerings in the sukuk and debt market. We are pleased to partner with stc group, whose vision complements ours in advancing innovative, Sharia-compliant financial solutions. We’re also grateful to the Capital Market Authority for fostering an environment where fintechs can thrive, and to our exceptional team for their continued commitment and drive.”
In the construction and industrial services sector, Red Sea International has accessed Sharia-compliant capital through Tarmeez to fulfil contracts for Baker Hughes and Red Sea Global. The funding supports the design and delivery of prefabricated facilities critical to infrastructure development in the Eastern Region.
“Tarmeez’s digital issuance model and access to diverse, flexible funding sources enabled us to mobilise quickly and meet tight project deadlines while maintaining our regulatory responsibilities,” stated Ghassan Alashkar, Acting CEO of Red Sea International.
In the housing and urban development space, RASF Real Estate Development is utilising sukuk financing for its Deem project in Al Khobar — a contemporary townhouse community aimed at the Kingdom’s growing middle-income population.
“Flexible, fast access to capital means we can respond to housing demand in real time,” said Ahmed Al Sayyari, CEO of RASF. “This approach allows us to focus on delivering communities that reflect the lifestyle aspirations of modern Saudis.”
By opening sukuk opportunities to retail investors, Tarmeez Capital is democratising access to ethical, Sharia-compliant financial products. This reflects rising demand for ESG-aligned investments, particularly among younger and traditionally underserved investor groups, while contributing to Saudi Arabia’s Vision 2030 objectives for financial inclusion and sustainable economic growth.
Nasser Al-Saadoun added:
“Tarmeez Capital is well placed to play a leading role in the Kingdom’s efforts to expand the sukuk and debt market to US$254.1 billion by 2030. Moving forward, our focus is on scaling our platform, increasing market participation, and helping to deliver on the Kingdom’s vision for a dynamic, inclusive, and globally competitive financial sector.”
