Tameed Platform provides quick and innovative financing solutions for government purchase orders through direct crowdfunding from investors. Its aim is to ensure that these purchase orders are not delayed and to establish a direct communication channel with investors who provide financing. The platform is licensed by the Saudi Central Bank.
Tameed Platform features
Tameed Platform is a debt-based crowdfunding platform specializing in financing small and medium-sized enterprises that have government purchase orders in the Kingdom. Through innovative financing solutions, the platform connects companies seeking quick funding for these government purchase orders with individual investors and investment entities looking for secure investments with attractive returns. The financing is managed and arranged through Tameed for secure debt crowdfunding, which is regulated by the Saudi Central Bank's law and instructions.
Financing government purchase orders on the platform
The idea of Tameed Platform emerged to address the challenges faced by companies and institutions that need financial liquidity to provide the necessary funding for government purchase orders. Previously, these entities had to secure the required products for government purchase orders, pay the manufacturers and distributors, and supply them to the beneficiaries, -waiting for credit payments, which creates a dilemma for the work of these companies and institutions.
Purchase orders on Tameed Platform
By the end of the third quarter of 2021, government entities issued approximately 738,000 purchase orders, worth over SAR664 billion. This prompted Tameed Platform for secure debt crowdfunding to provide the necessary funding for these purchase orders by involving investors who, in turn, lend to individuals, institutions, and companies.
The platform has contributed to solving the challenges faced by companies and financial institutions, which previously limited their continuity and expansion, especially for small and medium-sized enterprises that struggled to secure working capital. The platform adopts an innovative model to provide financial solutions, thereby ensuring the continuity of these entities and giving them the opportunity to expand and grow.
Numbers recorded by the platform
The number of successful investments on the platform reached approximately 10,367 requests, with an annual return rate for those investments of about 16 percent. The default rate from the total portfolio amounted to approximately SAR139 million. The platform adheres to Shariah-compliant guidelines in its financial dealings. After a thorough study to verify its operational mechanism, it was approved by a Shariah board consisting of experts in Islamic finance and legal advisors to ensure that the provided financing complies with Islamic Shariah.
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