Is Saudi fintech Sanad Cash moving in on Capiter? Saudi fintech platform Sanad Cash wants to acquire 60% of crisis-stricken B2B e-commerce startup Capiter, Al Mal reported last night, citing sources it claims are familiar with the matter. Sanad is reportedly offering to clear out Capiter’s debt in return for the shares.

Refresher: Capiter became the first high-profile victim of the slowdown on Planet Startup after the board unexpectedly fired its two founders earlier this month amid allegations of financial impropriety at the company.

Sanad Cash isn’t the only potential suitor to be floated by the press: Al Mal last week reported that Quona Capital, one of the company’s key investors, wants to snap up 70-80% of Capiter’s shares.

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