Sulfah

About Sulfah

Sulfah is a Saudi digital lender headquartered in Riyadh. Its legal name is Sulfah Finance Company, a closed joint-stock company that states it was established in 2019 with paid capital of SAR 10 million. It holds a licence from the Saudi Central Bank (SAMA) for micro-consumer finance through financial technology, and it describes itself as the first platform to give personal finance without requiring the borrower to transfer their salary.

The core product is a small, short-term personal finance facility requested through a mobile app. The company says eligible applicants can receive up to SAR 30,000, deposited to their bank account about 24 hours after approval, structured as tawarruq under a Sharia governance framework. Repayment can be made with Google Pay and Apple Pay, and the service works with Saudi banks.

Sulfah also runs a peer-to-peer lending marketplace. It says it was admitted to SAMA's regulatory sandbox for individual-to-individual crowdfunding in 2023, and describes itself as the first company to offer this model in a Sharia-compliant way in the Kingdom. Qualified investors fund borrowers in small amounts, borrowers are grouped into risk grades from A downwards, profit is distributed monthly, and an auto-invest option is available. Sharikat Mubasher reported the P2P service launch in June 2024.

Yazeed Altaweel is the founder and chief executive; Arab News has profiled their path, which includes an earlier e-commerce and IT business and a mini MBA from Babson College. Third-party databases give 2018 as the start of the venture, whereas the company's corporate page gives 2019 for incorporation. The website publishes financial statements and board reports, and the app is rated 4.7 out of 5 according to the site. No priced funding rounds were found in the public record.

Leadership

• Yazeed Altaweel, Founder and CEO