• $2.1B+ in global loan commitments; 250+ companies backed globally; 20+ years
  • Over $300M committed across the GCC since 2020
  • Minimally dilutive capital for companies such as Tabby, TruKKer, Bayzat, Syarah, Huspy, & Silkhaus
  • Strategic partner to top-tier institutions, including Saudi Venture Capital Company

(SVC) and PIF-backed Jada

  • Introduced tailored Sharia-compliant structures to support regional innovators

Riyadh, Saudi Arabia and Dubai, United Arab Emirates – 29 July 2025 – Partners for Growth (“PFG” or the “Firm”), the global investment firm pioneering structured growth debt, is celebrating five years of investing in the Gulf Cooperation Council (“GCC”), a region where venture capital ecosystems are rapidly maturing but companies still face structural funding gaps in the debt capital markets.

Founded in 2004 in Silicon Valley, PFG has over two decades of global experience providing growth debt – flexible capital tailored to the scaling needs of technology-first businesses. The Firm has financed more than 250 companies across 15+ countries, with over $2.1 billion in loan commitments across seven funds, and has over $900 million in assets under management. Since 2020, PFG has committed over $300 million to high-growth companies across the GCC, including fintech pioneer, Tabby; digital freight platform, TruKKer; payroll and HR management system, Bayzat; leading e-commerce platform, Syarah; home financing proptech, Huspy; and short-term rental platform, Silkhaus.

“We pioneered growth debt in Silicon Valley to help entrepreneurs scale without giving up control. Today, we bring that same model to five continents, and the GCC is at the heart of it.” said Andrew Kahn, Co-Founder and CEO of PFG.“Across the GCC, we’ve seen firsthand how bold and visionary this generation of founders is. But ambition alone isn’t enough – it needs to be met with the right kind of capital. That’s where PFG comes in. We don’t just write checks – we build with founders. Five years in, our conviction is stronger than ever: the GCC is one of the world’s most exciting regions for innovation.”

While the GCC’s startup ecosystems are scaling fast, funding gaps remain. Globally, only about 22% of bank lending is directed toward Small and Medium Enterprises.[1] In the GCC, much of the region’s credit is concentrated in large corporates, government-backed entities, or family groups – where lending is secured by long-standing relationships and asset-heavy balance sheets. Meanwhile, high-growth sectors like fintech, SaaS, and digital health often struggle to access traditional debt financing – not due to a lack of potential – but because they typically lack the fixed assets, profitability history, or collateral required by conventional lenders. This financing gap underscores the growing demand for alternative funding models that finance growth without relying solely on equity, and amplify outcomes for scaling businesses before they have reached maturity to access traditional commercial lending solutions.

“Five years ago, growth debt was virtually unknown in the GCC. Today, it is becoming a vital part of the region’s financial landscape.” said Armineh Baghoomian, Managing Director and Head of EMEA at PFG.“We have seen the transformative power of structured credit, from introducing Sharia-compliant solutions in Saudi Arabia to designing bespoke facilities for the region’s most ambitious fintechs. These are not one-size-fits-all products. They are built in close partnership with founders, shaped by local insight and a deep belief in the region’s potential.”

PFG’s investment strategy is closely aligned with the long-term national agendas of Gulf governments – including those of Saudi Arabia, and the United Arab Emirates – which prioritize digital transformation, private sector growth and economic diversification. This includes supporting key initiatives such as Saudi Arabia’s Vision 2030 and the United Arab Emirates’ Vision 2031. The Firm has established strategic ties with leading institutional partners including SVC and Saudi Arabia’s Public Investment Fund (PIF)-backed Jada. PFG was also among the first growth debt providers to introduce Sharia-compliant warehouse facilities.

“Partnering with Partners for Growth is aligned with SVC’s strategy and mandate to strengthen the private credit ecosystem in Saudi Arabia.” said Dr. Nabeel Koshak, CEO and Board Member at SVC. “This collaboration introduces innovative financing options that empower entrepreneurs to accelerate growth while preserving ownership, contributing directly to a more resilient and diversified national economy.”

“By continuing our partnership with global fund managers like Partners for Growth, Jada is helping channel foreign direct investment into the Kingdom and supporting the growth of local SMEs in line with the development goals of Saudi Vision 2030.” said Bandr Alhomaly, CEO and Managing Director of Jada Fund of Funds.

PFG has played a vital role in helping entrepreneurs and businesses in the GCC grow and thrive. By providing tailored funding that minimizes dilution, PFG has enabled founders to scale faster, retain control and unlock new opportunities across the region and beyond.

 Hosam Arab, Co-founder and CEO at Tabby, stated:

“PFG took the time to understand the nuances of our business and built a financing solution tailored to our growth journey. Their facility allowed us to scale our merchant base, launch new services, and respond swiftly to evolving market demands, which were instrumental steps in enabling us to successfully complete our Series E fundraising earlier this year. PFG is more than just a lender – it is a strategic growth partner.”

Amit Agarwal, Chief Financial Officer at TruKKer, said:

“PFG’s entry into the region with their first venture debt investment marked a significant milestone for both of us. At a pivotal stage of TruKKer’s growth, their partnership enabled us to unlock working capital solutions, scale faster, and support instant payments to thousands of transporters across our platform. PFG’s global venture debt expertise was instrumental, and we’re proud to be part of their expanding portfolio.”

Salah Sharef, Co-founder and CEO at Syarah, remarked:

“Our partnership with PFG was instrumental for our growth. The warehouse facility gave us the flexibility to triple our fleet and scale inventory efficiently, without diluting equity. What sets PFG apart is that their structure evolves with us and continues to fuel our regional expansion.”

Talal Bayaa, CEO at Bayzat, commented:

“PFG backed us at a critical moment in Bayzat’s journey, showing conviction in our vision to modernize HR and employee benefits across the GCC. Their flexible capital gave us the runway to invest in core growth initiatives, optimize our operating model, and chart a clear path toward profitability. Their support has been a meaningful enabler of our continued expansion and long-term resilience.”

“The GCC’s innovation economy is entering a powerful new chapter, fueled by world-class founders, accelerating digital transformation, and bold national visions.” added Baghoomian. “At PFG, we are proud to be an early and continued part of that momentum. We remain committed to backing the founders building the future, with capital that grows with them and unlocks lasting value across the region.”

[1] [1] https://www.deloitte.com/middle-east/en/our-thinking/mepov-magazine/frontiers/the-surge-of-private-credit-in-the-middle-east.html