Saudi Arabia’s Public Investment Fund (PIF) has launched Tawrid Company for Financing Solutions, a digital platform offering supply chain finance to companies in the kingdom.
Tawrid has started operations after obtaining a permit from the Saudi Central Bank (Sama) to operate in the regulator’s sandbox, according to a PIF statement this week.
The platform connects buyers, suppliers and funders. It has signed binding agreements with Gulf International Bank, Saudi National Bank and Banque Saudi Fransi (BSF), as well as real estate developer ROSHN Group and contractor Nesma & Partners.
Tawrid covers the full transaction lifecycle, from invoice approval and financing matching through to disbursement and settlement. Local banks registered on the network can engage with registered suppliers, PIF said.
Products include early settlement against approved invoices, and the offering is aimed particularly at small and medium-sized businesses, the Saudi fund added.
“We are encouraged by the level of supplier registration and the momentum we are seeing on the platform,” a spokesperson for the company told GTR.
“Growing supplier participation, especially among SMEs, is central to Tawrid’s purpose. Saudi Arabia has more than 750,000 registered SMEs. Supply chain finance is one of the most direct ways to close that [financing] gap, and every supplier that joins the platform is a step toward that national objective.”
The technology used by Tawrid’s platform is a mix of in-house development and partnerships with “carefully selected technology partners when their components better serve the ecosystem”, the spokesperson said. The firm is “not disclosing our technology partners at this stage”.
The company will soon be able to apply for a full operating license as the country’s “regulatory landscape has now progressed significantly”, it added.
Sama opened a public consultation on August 26 on draft rules governing supply chain finance and supply chain finance intermediation activities across the kingdom. Stakeholders were given 30 days to submit comments.
“Once the regulations are finalised, Tawrid will comply with the final regulatory requirements and complete Sama’s required process to graduate from the regulatory sandbox into the permanent regulatory framework,” the PIF-owned company said.
“For us, this represents the natural next stage of Tawrid’s development, from validating the model within the sandbox to operating under a dedicated regulatory framework for supply chain finance in Saudi Arabia.”
PIF said the launch is in line with its 2026-2030 strategy, which aims to increase the Saudi private sector’s contribution to the fund’s projects and portfolio companies, adding that financial services are an enabler of the six ecosystems set out in that strategy.
Meanwhile, Saudi banks have also been building out their digital trade finance capabilities as the country ramps up its international trade ambitions, with the head of trade finance products at Al Rajhi Bank discussing the bank’s approach with GTR last year.
