Riyadh – Sharikat Mubasher: Beehive Group Holdings announced it has acquired a majority stake in Saudi-based debt crowdfunding platform Thimar for Business Company, strengthening its presence in the Kingdom’s fast-growing SME financing market.
As per a recent press release, this acquisition marks a major milestone in Beehive’s regional expansion strategy, giving the company access to a fully regulated platform in Saudi Arabia. Beehive entered the Saudi market in 2020 through banking partnerships and has since financed more than 3,000 small and medium-sized enterprises across the GCC.
By integrating Thimar’s licensed debt crowdfunding platform with Beehive’s financing technology and regional expertise, the company aims to expand access to alternative funding for Saudi entrepreneurs and SMEs through secure, transparent, and digitally enabled financing solutions.
Peter Tavener, Co-Founder and CEO of Beehive, described Saudi Arabia as one of the region’s most dynamic SME markets, saying the acquisition will enable the company to offer entrepreneurs broader and more accessible financing options.
The transaction aligns with Saudi Arabia’s Vision 2030 goals of strengthening the private sector, supporting SMEs, and expanding the Kingdom’s fintech and alternative finance ecosystem. It is also expected to accelerate the growth of the debt crowdfunding market by combining Beehive’s operational capabilities with Thimar’s local regulatory framework.
