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SaaS Financing Portfolio

MRR/ARR-based financing across GCC and Global SaaS companies ·

10 Portfolio Companies · SAR 230M Total Deployed

5 companies · SAR 88M deployed

Portfolio ARR: SAR 376M

Avg Net Revenue Retention: 120%

Avg Rule of 40: 67

Avg Monthly Churn: 2.20%

ARR Portfolio Trend

GCCGlobal

8-quarter cumulative ARR growth (SAR M) — both regions always shown for comparison

ARR by Company

GCC Region

Annual Recurring Revenue per portfolio company (SAR M), sorted descending

Capital Deployed by Financing Instrument

IOTA capital deployed (SAR M) per instrument type — filtered by selected region

Company Phase Distribution

Portfolio companies by SaaS growth phase — filtered by selected region

Phase 1

Pre-Launch

0 cos.

SAR 0M ARR

Phase 2

Early Growth

1 cos.

SAR 31M ARR

Phase 3

Scale-up

3 cos.

SAR 180M ARR

Phase 4

Mature

1 cos.

SAR 165M ARR

Phase 1: Pre-launch | Phase 2: Early growth (seeking PMF) | Phase 3: Scale-up | Phase 4: Mature / expansion-stage

Portfolio Detail

5 companies · SAR 88M deployed

Company	Country	Sector	Stage	ARR (SAR M)	MoM Growth	Churn / mo	NRR	LTV:CAC	Rule of 40	Financing	Deployed (M)	Status
🇸🇦 Salla	Saudi Arabia	eCommerce SaaS	Series B	45	+8.2%	2.1%	118%	4.2x	68	Equity (VC)	12	Active
🇸🇦 Foodics	Saudi Arabia	Restaurant Tech SaaS	Series C	82	+6.4%	1.8%	124%	3.9x	71	Revenue-Based	18	Active
🇸🇦 Tamara	Saudi Arabia	BNPL & Payments SaaS	Series C	165	+4.1%	3.2%	112%	3.1x	55	Venture Debt	35	Active
🇸🇦 Lean Technologies	Saudi Arabia	Open Banking API	Series A	31	+14.3%	1.4%	132%	5.1x	82	Equity (VC)	8	Active
🇦🇪 Paymob	UAE	Payment Infrastructure	Series B	53	+9.1%	2.5%	115%	3.6x	61	Growth Capital	15	Active

ARR for Global companies converted to SAR at 1 USD = 3.75 SAR. All figures are illustrative portfolio placeholders pending live system integration.

SaaS Financing Metrics Reference

Key KPIs used by lenders and investors to evaluate SaaS financing eligibility and portfolio health

Rule of 40

Revenue growth rate + profit margin. A score ≥40 signals a healthy SaaS business balancing growth and efficiency.

≥ 60

Exceptional

40–59

Adequate

< 40

Needs attention

Net Revenue Retention (NRR)

Revenue retained from existing customers after churn, contraction, and expansion. Above 100% means existing customers are growing.

≥ 130%

Exceptional expansion

110–129%

Strong retention

100–109%

Adequate

< 100%

Net contraction

LTV : CAC Ratio

Customer Lifetime Value divided by Customer Acquisition Cost. Measures the efficiency and sustainability of the growth model.

≥ 5x

Excellent unit economics

3–4.9x

Healthy

2–2.9x

Borderline

< 2x

Unsustainable

Monthly Churn Rate

Percentage of MRR lost from existing customers each month. Even small improvements compound significantly over time.

≤ 1% / mo

Best-in-class

1–2.5% / mo

Acceptable

> 2.5% / mo

High risk

ARR (Annual Recurring Revenue)

The normalised annual value of all active subscriptions. Primary sizing metric for SaaS financing eligibility and multiples.

> SAR 150M

Scale-up ready

30–150M

Growth stage

< 30M

Early growth

MoM MRR Growth

Month-over-month percentage increase in Monthly Recurring Revenue. A leading indicator of ARR trajectory.

> 10% / mo

Hypergrowth (T2D3 pace)

5–10% / mo

Strong growth

< 5% / mo

Steady / maturing

Forward ARR Projections

Current ARR vs Q4'26 projected — quarterly compound growth from MoM MRR rate · GCC Region

Company	Current ARR	Q1 '26	Q2 '26	Q3 '26	Q4 '26	YoY Growth
🇸🇦 Salla	45M	57M	72M	91M	115M	+156%
🇸🇦 Foodics	82M	99M	119M	143M	172M	+110%
🇸🇦 Tamara	165M	186M	210M	237M	267M	+62%
🇸🇦 Lean Technologies	31M	45M	65M	94M	136M	+339%
🇦🇪 Paymob	53M	69M	90M	117M	152M	+187%

Projections derived from compound MoM MRR growth, capped at 45% quarterly. Figures are model-based estimates. ARR in SAR M.