Beehive Acquires Majority Stake in Saudi Crowdfunding Platform Themar

The acquisition of the SAMA-regulated Themar platform allows Beehive to integrate its regional technology and funding track record directly into the Saudi market. Since its inception in 2014, Beehive has financed over 3,000 SMEs across the GCC, and this merger aims to accelerate that momentum. Peter Tavener, Co-Founder and Group CEO of Beehive, noted that the deal provides a stronger foundation to scale financing access for Saudi businesses, aligning with the Kingdom’s Vision 2030 goals to diversify the economy and broaden private-sector participation.

Following a structured funding arrangement with Goldman Sachs and Magellan Capital in the UAE, the company is now evaluating a similar facility to boost its lending capacity in Saudi Arabia. Yousef H. Al Dabbagh, Co-Founder of Themar, stated that the partnership combines local regulatory expertise with regional institutional relationships. By leveraging Themar’s existing license from the Saudi Central Bank, the combined entity intends to offer more transparent and accessible capital solutions for local entrepreneurs.