Latest news with #RIFD
Wamda
04-08-2025
- Business
- Wamda
RIFD secures strategic investment from Antler
Saudi Arabia-based RIFD, a Shariah-compliant SME receivables securitisation platform, secured "strategic" investment from global VC firm Antler. Founded in 2024 by Abdulrahman AlDakheel, RIFD facilitates institutional financing for SME suppliers by securitising receivables from large, creditworthy corporations—unlocking supply chain liquidity while maintaining a fully Shariah-compliant structure. The investment accelerates RIFD's mission to build Saudi Arabia's first institutional-grade infrastructure for receivables securitisation, reducing SME financing costs and providing risk-adjusted returns to investors. Press release: RIFD, the first Saudi-born platform enabling institutional securitisation of SME trade receivables, has secured a strategic investment from global early-stage venture capital firm Antler. This milestone accelerates RIFD's mission to build the country's first Shariah-compliant securitisation infrastructure—reducing SME financing costs while unlocking high-quality, risk-adjusted returns for institutional investors in an untapped asset class. This follows RIFD's recent selection by the Ministry of Communications and Information Technology (MCIT) into its prestigious Tech Champions 5 program, reinforcing its position as one of the Kingdom's most promising emerging fintech startups. 'SME credit in Saudi Arabia surpassed SAR 351.7 billion in Q4 2024, growing over 27.6% year-on-year. Yet, receivables-based financing accounts still account for less than 6%,' said Abdulrahman Aldakheel, CEO of RIFD. 'This billion-riyal gap is a massive opportunity. At RIFD, we're building the infrastructure to unlock this capital—driving SME growth while offering institutional investors secure, Shariah-compliant exposure to real economic value. With Antler's backing, we are poised to scale our vision across Saudi Arabia and the wider region,' Abdulrahman Aldakheel, CEO of RIFD, added. Antler's investment not only validates RIFD's model globally but also brings operational expertise, strategic partnerships, and access to a world-class network of follow-on investors with a track record of scaling high-growth startups. As part of Antler's portfolio, RIFD will receive hands-on guidance as it accelerates expansion across Saudi Arabia and the MENA region. With its first pilot transaction underway, multiple institutional partnerships in progress, and strong support from Antler and the MCIT Tech Champions program, RIFD is rapidly emerging as a key player in the Kingdom's financial transformation.
Zawya
04-08-2025
- Business
- Zawya
RIFD secures strategic investment from Antler to revolutionize SME Securitization in Saudi Arabia
Riyadh, Saudi Arabia – RIFD, the first Saudi-born platform enabling institutional securitization of SME trade receivables, has secured a strategic investment from global early-stage venture capital firm Antler. This milestone accelerates RIFD's mission to build the country's first Shariah-compliant securitization infrastructure—reducing SME financing costs while unlocking high-quality, risk-adjusted returns for institutional investors in an untapped asset class. This follows RIFD's recent selection by the Ministry of Communications and Information Technology (MCIT) into its prestigious Tech Champions 5 program, reinforcing its position as one of the Kingdom's most promising emerging fintech startups. 'SME credit in Saudi Arabia surpassed SAR 351.7 billion in Q4 2024, growing over 27.6% year-on-year. Yet, receivables-based financing accounts still accounts for less than 6%,' Abdulrahman Aldakheel, CEO of RIFD. 'This billion-riyal gap is a massive opportunity. At RIFD, we're building the infrastructure to unlock this capital—driving SME growth while offering institutional investors secure, Shariah-compliant exposure to real economic value. With Antler's backing, we are poised to scale our vision across Saudi Arabia and the wider region,' Abdulrahman Aldakheel, CEO of RIFD, added. Antler's investment not only validates RIFD's model globally but also brings operational expertise, strategic partnerships, and access to a world-class network of follow-on investors with a track record of scaling high-growth startups. As part of Antler's portfolio, RIFD will receive hands-on guidance as it accelerates expansion across Saudi Arabia and the MENA region. With its first pilot transaction underway, multiple institutional partnerships in progress, and strong support from Antler and the MCIT Tech Champions program, RIFD is rapidly emerging as a key player in the Kingdom's financial transformation. About RIFD RIFD is the first Saudi-born securitization platform, connecting global investors to untapped markets by transforming receivables securitization through advanced technology. The platform facilitates institutional financing for SME suppliers by securitizing receivables from large, creditworthy corporations—unlocking supply chain liquidity while maintaining a fully Shariah-compliant structure. Leveraging real-time data analytics and proprietary algorithms, RIFD ensures precise risk classification, transparent asset pooling, and customized portfolio construction.
CBS News
25-04-2025
- Business
- CBS News
Self-serve alcohol option for bars and breweries proposed in New Hampshire
A New Hampshire lawmaker is proposing a law that would allow more bars and breweries to offer self-serve alcohol options for diners. For the past three years, Leah Bellemore has been pouring glasses of wine like no one else in New Hampshire. Her business, Vine 32 Wine in Bedford, uses self-serve machines that let the customer determine whether they want a taste, half-serving or full glass of wine. Bellemore got approval for the business model thanks to a New Hampshire "industry rule" that allowed it. Pour your own wine or beer "Once they [customers] get walked through the process and they understand how it works, they're blown away, they're like, 'Actually this is brilliant, this is nothing like I thought it would be,'" said Bellemore. "Guests can try different things, make everything a little bit more accessible." Customers at Vine 32 Wine are given a card when they walk in. They use it to activate the wall of 32 taps but it also tracks how much wine each customer has consumed along with their tab. Now there is a state senator who wants to make that rule a law. The goal is to expand the option to other businesses and create regulations for liquor licensees. State Sen. Tim Lang said he got the idea for his bill after a trip to the Republican National Convention last year in Wisconsin. "I was waiting on my food, and I was able to get up and go get my beer without waiting for the waitress to come over and say, 'Can I get you anything else?'" said Lang. Customer quantities would be tracked Lang said his bill would require businesses to use a Radio Frequency Identification Device like a card or wristband to track each customer's quantity. As written, the bill set a limit of 32 ounces for beer or cider and 10 ounces for wine, before the RIFD would stop working and require customers to check-in with an employee to reset it. Lang said this is a step to ensure customers are not over serving themselves. "Because it's based on the ounces of pour, I could just get take an ounce of beer if I want to try it and if I don't like it, then I don't have to pay for a whole pint." The bill, which has made its way out of the Senate and into the House for review, would not allow for liquor mixed drinks to be included. "We might expand that but for now let's take a baby step and legalize this," said Lang. In 2023, WBZ-TV highlighted a wine shop in Plymouth with a similar business model.
