Aramco, SIDF and Taulia announce supply chain financing solution

Aramco and Taulia, a SAP company and leading FinTech provider of working capital management solutions — supported by the Saudi Industrial Development Fund (SIDF) as one of the key finance providers of the domestic industrial sector — have signed agreements to establish a supply chain financing solution. 

The entities are joining forces to establish one of the world’s largest supply chain financing programs, which aims to provide an alternative and affordable source of financing for Aramco’s suppliers. Announced during the FII 8th Edition in Riyadh, the new FinTech solution is expected to enhance suppliers’ liquidity and cash forecasting accuracy, while reinforcing Aramco’s supply chain resilience. 

At Aramco, we recognize the crucial role our suppliers play in contributing to our business continuity, which in turn enables the delivery of energy and petrochemical products reliably and competitively across the globe. Together with our partners, we are introducing this FinTech solution for our suppliers, offering them an access to a unique and competitive financing opportunity. This platform also provides an investment opportunity for banks to participate as finance providers, enhancing the solution’s scale and viability.
— Ziad T. Al-Murshed, Aramco CFO and executive vice president of Finance

“We extend our gratitude to the Saudi Central Bank (SAMA) for enabling us to unlock this added value for our stakeholders,” said Al-Murshed. “We also deeply appreciate the commitment of our partners at SIDF and Taulia in developing this innovative solution, which will significantly enhance our suppliers’ ability to meet customer needs and reinforce the stability of the supply chain ecosystem in our region.”

The deal establishes one of the world’s largest supply chain financing programs, and will provide an opportunity to access early payments for thousands of companies. Our goal is to ensure that cash flows fast and easily towards suppliers. When done at scale, it creates opportunities for growth and investment for these businesses.
— Cedric Bru, Taulia CEO

“We are tremendously excited and proud to make that a reality for Aramco and its trading partners,” said Taulia. “It cements our position as a leading FinTech provider of working capital solutions.

The financing solution aims to unlock billions of Saudi Riyals in liquidity, enabling suppliers to optimize working capital, gain access to alternative financing, and strengthen business relationships.

Caption for top photo: At the signing ceremony, front from left, are: Khalil Alnammari, SIDF vice president of Strategic Planning and Business Development; Cedric Bru, Taulia CEO; Ziad T. Al-Murshed, Aramco CFO and executive vice president of Finance; and Abdulaziz Aladwani, Manafa founder and CEO. Back row from left are: HH Prince Sultan bin Khalid, SIDF CEO; Amin Nasser, Aramco president and CEO; H.E. Ayman Alsayari, SAMA Governor; H.E. Bandar Alkhorayef, Minister of Industry and Mineral Resources; and Abdullah Alkasabi, Manafa vice chairman.