“Can a Shariah-compliant debt crowdfunding platform become the default SME private credit rail across the GCC?”
Funding Souq is a DIFC-licensed, Shariah-compliant SME debt crowdfunding platform that connects established SMEs in the UAE and Saudi Arabia with retail and institutional investors. It launched in late 2020 in Dubai under DFSA license F005822 with an Islamic Window endorsement, then expanded to Saudi Arabia in 2021 under a separate entity regulated by the Saudi Central Bank. Its evolution has focused on widening distribution — notably the 2024 Qoyod accounting partnership to embed SME financing into accounting software — rather than building a banking or card stack.
Funding Souq discloses United Arab Bank (segregated client money account — banking partner, not BaaS) as its banking provider, with United Arab Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Funding Souq does not disclose a bank charter of its own; its banking services are provided through United Arab Bank.
Funding Souq's lending and capital products are provided by Funding Souq (in-house) — debt crowdfunding platform.
Funding Souq integrates with Qoyod.
The Embedded Finance Index 2026 maps 4 layers in Funding Souq's stack: Banking / BaaS (United Arab Bank (segregated client money account — banking partner, not BaaS)); Lending (Funding Souq (in-house) — debt crowdfunding platform, Shariah-compliant SME business financing (AED 50K–500K, 3 months–2 years, UAE), Shariah-compliant SME debt crowdfunding (KSA) and Embedded SME financing via Qoyod accounting platform (KSA)); Sponsor bank (United Arab Bank); Accounting (Qoyod).
Funding Souq was founded by Martin Jaouni and is founded in 2020, headquartered in Fintech Hive, DIFC, Dubai, United Arab Emirates.
Get a read on where your own stack stands against Funding Souq and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.