Saudi Arabia
Saudi’s Tamara Is Now a Fintech Unicorn
Tamara, a leading fintech platform to shop, pay and bank in Saudi Arabia and the wider GCC region, has achieved the historic milestone of becoming the Kingdom’s first homegrown fintech unicorn by securing $340 million in a Series C equity
Read More
Saudi’s Debt Crowdfunding Marketplace Lendo Closes $28M Series B Funding
Lendo, a Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, has raised SAR 105 million ($28 million) in Series B funding led by Sanabil Investments, a wholly-owned company by the Public Investment Fund PIF. The round saw participation from Shorooq Partners, AB
Read More
Aramco and SBI Holdings Enter MoU for Digital Asset Collaboration
Aramco has entered into a Memorandum of Understanding (MoU) with SBI Holdings, a Japanese-based financial services company. The MoU outlines a potential business alliance between Aramco and SBI Holdings, aiming to explore collaboration in several key areas. These areas include digital assets,
Read More
Saudi Personal Finance Platform Yabi Grabs USD 8M Seed Funding
Yabi by Souqalmal was launched in Saudi Arabia this November, boasting a localised personal finance wellbeing platform. Driven by its firm belief in localisation for true value creation when it comes to personal finance, Yabi launched in both English and
Read More
Saudi’s Tamara Secures $250 Million Debt Financing
Tamara, a leading fintech platform to shop, pay, and bank in Saudi Arabia and the wider GCC region, has secured an additional up to $250 million in debt financing, bringing its total warehouse facility to up to $400 million. The
Read More
Saudi Islamic Fintech Lynk Raised Capital to Introduce Additional Financial Products
In a move to reshape the fintech landscape in accordance with Islamic finance principles, LYNK has solidified its market position through a successful investment and the establishment of strategic partnerships with industry stalwarts Al Fozan Holding and Ramla Holding Group.
Read More
Investment Arm of King Saud University Invests into Flat6lab’s Startup Seed Fund
Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, is delighted to announce its strategic investment in Flat6Labs’ Startup Seed Fund. This investment marks a significant milestone in
Read More
Tabby Secures $200M in Series D Funding at $1.5b Valuation
Tabby, the MENA’s shopping and financial services app, has raised $200 million in equity financing led by Wellington Management. The equity financing drew additional participation from growth equity investor Bluepool Capital, in addition to existing investors STV, Mubadala Investment Capital,
Read More
Arab Monetary Fund Report: The Arab Open Banking Market Growth
The Open Banking market across Arab Countries to grow by 25% annually over the next five years, The Arab Monetary Fund (AMF) said in a report issued this week, presenting guidelines for an “Effective Open Banking/ Finance Adoption”. The report
Read More
SAMA Permits Kady Pay as New BNPL Solution Provider
The Saudi Central Bank (SAMA) permitted “Kadi Pay” to provide Buy Now Pay Later (BNPL) solutions. With Kadi Pay, there are now six authorized companies offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies
Read More