Beehive stands as a pioneer in the Middle East and North Africa (MENA) region, having launched in 2014 as the first digital peer-to-peer (P2P) lending platform specifically designed to connect small and medium-sized enterprises (SMEs) with investors. Founded by Craig Moore, who brought previous entrepreneurial experience from his successful software company.
Beehive was created to fill a deep funding gap faced by SMEs in the UAE, Saudi Arabia, and Oman. By leveraging innovative digital technology, Beehive simplifies and accelerates access to financing for SMEs while offering investors attractive returns through direct investments in creditworthy businesses.
How Beehive Started
Craig Moore, Beehive’s founder and CEO, has a rich history of entrepreneurship. Prior to founding Beehive, he built Butterfly Software, a data analytics company acquired by IBM. With Beehive, Moore aimed to transform SME financing by introducing a technology-driven P2P lending marketplace that cuts out traditional financial intermediaries, thereby reducing cost and complexity. Launched in Dubai with strong backing from industry leaders, including Rick Pudner, former Group CEO of Emirates NBD, Beehive was positioned to revolutionize SME lending in the region.
What Beehive are into
Beehive’s platform allows SMEs, especially those with at least two years of operation and looking for expansion capital, to access fast, affordable funding. Meanwhile, investors, ranging from private individuals to institutions, can directly fund these businesses, earning returns while diversifying risk. Importantly, Beehive offers both conventional and Sharia-compliant financing options, appealing to a wider spectrum of investors and SMEs. Its digital infrastructure supports invoice financing and working capital loans, providing financial solutions tailored to business needs.
Insights and Impact
Since its creation, Beehive stands as a pioneer and has facilitated over AED 1.5 billion in loans to more than 50 SMEs, including some listed among the Dubai 100 fastest-growing companies. The platform has attracted thousands of investors across the globe, enabling them to engage with a vetted, curated portfolio of businesses.Â
Beehive also provides a secondary market, allowing investors liquidity options by trading parts of their investments. These features contribute to a vibrant ecosystem supporting knowledge-based SMEs, fostering economic innovation and helping to bridge the estimated $250 billion SME credit gap in the MENA region.
Achievements and Industry Recognition
Beehive’s impact is widely acknowledged. In 2015, it became the world’s first independently certified Sharia-compliant P2P finance platform. The company gained regulation under the Dubai Financial Services Authority (DFSA), further enhancing trust and credibility.
In recent years, Beehive has garnered strategic investments, including a majority stake acquisition by a UAE-based & enterprise in 2023 at a valuation of $35 million, signifying market confidence in its innovative model and growth potential. This partnership aims to accelerate financing access for SMEs across the MENA region.
Goals and Vision
Looking ahead, Beehive is focused on scaling its services throughout the Gulf and broader MENA region, continuously enhancing technology and expanding its product suite. The company envisions becoming the premier platform for SME financing, driving economic growth by empowering enterprises with accessible capital and creating value for investors.
Beehive’s commitment to innovation, regulatory compliance, and inclusivity positions it as a key player in the evolving fintech landscape, dedicated to supporting entrepreneurial ecosystems and contributing to a knowledge-driven economy.Â
Beehive exemplifies how fintech innovation can address critical financing challenges for SMEs. Led by an experienced founder with a clear vision, the platform has successfully connected businesses and investors in a mutually beneficial marketplace.
Its achievements in funding volume, regulatory milestones, and market partnerships underscore its role as a catalyst for SME growth in MENA. With future-ready strategies and a customer-centric approach, Beehive continues to pave the way for accessible, transparent, and effective SME financing solutions in the region.
