Riyadh, Saudi Arabia – November 9, 2025: SIDF Investment Company (SIC) announced a strategic investment in Aajil (previously known as BuildNow), the first platform in the Middle East and North Africa to provide “Buy Now, Pay Later” (BNPL) solutions directed at B2B transactions in industrial supply chains, supporting the industrial SMEs sector.

This investment aims to enable the growth of industrial SMEs and accelerate the pace of industrial innovation in line with the National Industrial Strategy and Saudi Vision 2030 targets. It also represents a pivotal milestone in Aajil's journey towards digitizing credit and financial solvency for the company's customer base, and providing digital, Shariah-compliant solutions for sourcing raw materials on credit and enhancing working capital in promising sectors.

Aajil had previously completed a seed funding round led by regional venture capital firms "RAED Ventures" and "Khwarizmi Ventures", followed by a strategic funding round from Arbah Capital and the technology venture capital fund STV in early 2025. This funding contributes to proving the company's business model-market fit, building a solid credit infrastructure, expanding the supplier base, and achieving tangible growth in key industrial sectors.

Enabling industrial SMEs through digital access to suppliers and flexible credit on clear terms

Founded in 2022, Aajil provides short-term, Shariah-compliant deferred payment solutions to enhance working capital for SMEs that need raw materials to run their businesses. The company has achieved rapid growth in the industry, construction, and wholesale trade sectors, which are sectors aligned with the SIDF Investment Company's industrial investment mandate.

To date, Aajil has supplied raw materials exceeding SAR 300 million in value, where credit is typically assessed and raw materials are supplied on credit within 24 hours. The company has also doubled its credit portfolio size in the last twelve months, in a clear indication of strong market demand and the need for liquidity among financially and technically sound SMEs in the sector. This rapid growth confirms the strategic importance of Aajil and paves the way for greater expansion to support working capital in the industrial sector.

Fahad Alnaeem, Chief Executive Officer of SIDF Investment Company, said: “Empowering SMEs is a fundamental pillar of sustainable industrial development. Our partnership with 'Aajil' supports a fast-growing platform that addresses cash flow bottlenecks that could face industrial SMEs. This partnership also contributes to organizing digital procurement, enhancing operational efficiency, and increasing capacity utilization rates, contributing to building a competitive industrial ecosystem led by innovation”.

Abdulla Sheikh, CEO and Co-founder of Aajil, also said: “The company's investment is a pivotal milestone in our journey. With the support of our partners, we seek to expand the infrastructure for the 'Buy Now, Pay Later' service, attract hundreds of SMEs in priority industrial sectors, and expand the provision of digital, trade-based, Shariah-compliant solutions for SMEs across various regions of the Kingdom in line with Vision 2030”.

About SIDF Investment Company (SIC)

The company was established to contribute to accelerating the development of the industrial sector in the Kingdom by enhancing private sector participation and providing innovative investment solutions. The company's efforts focus on high-priority national sectors such as industry, mining, energy, and logistics, aiming to build an integrated and sustainable industrial ecosystem.

About Aajil

Aajil is a Saudi "Buy Now, Pay Later" platform, offering Shariah-compliant credit solutions specifically designed for SMEs in the industrial supply chain. The platform allows suppliers to receive upfront payments, while granting buyers access to raw materials on credit and flexible payment periods according to Shariah controls. The platform supports manufacturers, contractors, and wholesale traders by helping them enhance operational stability, maintain cash flow, and increase working capital efficiency.

For media inquiries:

• Aajil Email: ir@aajil.sa

• Aajil: www.aajil.sa

• SIDF Investment Company: www.sic-sa.com

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