Tarabut, based in Bahrain, has raised US$50 million (SAR 187 million) from a group of Saudi banks and family business groups.
Backers include Riyad Bank, the X-Tech Fund run by SAB Invest, GIB Saudi Arabia and Zamil Group.
Kanoo Ventures, part of the Yusuf bin Ahmed Kanoo Group, also joined, along with other regional investors.
The platform operates in Saudi Arabia, the UAE and Bahrain, and has handled more than 5 billion API calls linking banks, distributors and consumers.
The new funds will support verification, credit decisions and financing built directly into a partner bank’s own app, aimed at small and medium businesses.
Many lenders still rely on old paperwork instead of real-time cash flow, leaving approved firms waiting weeks for funds.
Pairing that paperwork with live cash-flow data can cut the wait. The same data can help lenders assess consumers who are hard to score under normal credit checks.
This links to financial inclusion goals under Saudi Vision 2030.
“We built a regulated platform across Saudi Arabia, the UAE and Bahrain,
and this financing will allow us to take everything we have proven across the region and go deeper where it matters most: Saudi Arabia,”
said Abdulla Almoayed, Founder and CEO of Tarabut.
“Our participation in Tarabut’s strategic financing reflects our confidence in its capabilities and its commitment to deepen its presence in the Kingdom,”
said Abdulrahman Alzamil, President of Zamil Investments.
Tarabut plans to share the next phase of its platform in the coming months.
The deal still needs regulatory approval, including from the Saudi Central Bank (SAMA).
Featured image: Edited by Fintech News UAE, based on image by toia via Magnific
