Beehive and Taageer Finance Strengthen Access to SME Financing Across Oman

Beehive, the region’s first digital peer-to-peer SME financing platform, has partnered with Taageer Finance Co. SAOG, one of Oman’s leading finance companies, to sign an agreement to expand access to financing for small and medium-sized enterprises (SMEs) across the Sultanate. To date, Beehive Oman has supported financing for more than 270 SMEs across Oman, and since its inception, Taageer Finance has financed more than 22,000 SME customers across 15 key economic sectors.

The collaboration brings together Beehive’s digital financing capabilities and SME-focused platform with Taageer Finance’s extensive experience, established market presence and track record in supporting businesses across Oman. Through the partnership, at least OMR 36 million in financing will be made available to eligible SMEs across Oman, supporting businesses with a minimum of two years of trading history.

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SMEs remain an important contributor to Oman’s economic development, private-sector growth and economic diversification. The collaboration between Taageer Finance and Beehive is therefore intended not only to expand access to finance, but also to support businesses in pursuing their growth ambitions and contributing to the wider development of Oman’s economy in line with the objectives of Oman Vision 2040.

Sheikh Khalil Al Harthy, CEO of Taageer Finance, said: “SMEs are a vital part of Oman’s economic growth, and improving their access to finance remains an important priority for Taageer. Our collaboration with Beehive enables us to reach a broader base of SMEs seeking finance and provide deserving businesses with access to the funding they need to grow. Through this partnership, we aim to support their growth ambitions while contributing to the broader objectives of Oman Vision 2040.”

Peter Tavener, Co-Founder and Group CEO of Beehive, said: “Partnering with Taageer gives Omani SMEs a strong new route to funding. Combining Taageer’s financial strength with our streamlined processes and reach on the ground means we can get more businesses funded, faster.”