Saudi Arabia
Entrepreneurship Arm of Saudi Aramco to Launch Fintech Accelerator Program
Wa’ed, the entrepreneurship arm of Saudi Aramco, has collaborated with Fintech Saudi as a strategic partner, along with regional seed and early-stage venture capital firm Flat6Labs, to launch a 12-week Fintech Accelerator to expedite the growth and development of promising
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Saudi’s Social Trading Platform Dawul Raises $5 Million in Seed Round
Riyad-based social trading platform Dawul announced last week it has raised $5 million in a seed round led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures. The deal, which places Dawul on the global
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Arab National Bank to Build Open Hybrid Cloud Capabilities With Red Hat
Saudi Arabia-based Arab National Bank has signed on US-based open source solutions provider Red Hat, Inc., for the latter’s open hybrid cloud technologies. Arab National Bank will be looking to boost its capabilities in digital banking, open finance and customer
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Saudi Arabia Startups See Best Ever Funding Quarter in Q3
Saudi Arabia startups raised US$205 million across 34 deals in Q3, their best ever quarter in terms of funding, according to a new report. VC funding for Saudi Arabia startups grew over 4x in the quarter, compared to the same
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Top Payment and Ecommerce Trends in the Middle East
The payment and ecommerce revolution has been a bit delayed in the Middle East, compared to tech hotspots in the US or Asia, but it is here nonetheless. The MENA region’s ecommerce sector is one of the fastest growing across
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Watch Out for These 7 Homegrown Robo-Advisory Platforms in the Middle East
Robo-advisory platforms in the Middle East are quickly taking off, with a number of local players having recently joined the onrush. Robo-advisory platforms provide users with financial advice and portfolio management solutions through algorithms. These algorithms churn user data and
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Saudi Aramco Invests in US$5m Pre-Series A by SME Financier Lamaa
Saudi-based SME-focused fintech startup Lamaa has raised SAR19 million (about US$5 million) in a pre-Series A round. The round was co-led by Saudi Aramco through its venture capital arm Wa’ed, and early-stage venture capital investor Raed Ventures, according to a
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Crypto and BNPL Are Top Middle East Fintech Trends: Visa Report
Over 80% of consumers in the UAE and Saudi Arabia reported that they would be willing to use crypto and buy now pay later (BNPL) services, according to Visa’s CEMEA COVID-19 Impact Tracker. This interest in what are relatively new
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Saudi Insurtech Startup Rasan Fetches US$24m
Rasan, an insurtech startup based in Saudi Arabia, has secured SAR 90 million (US$24 million) in a growth stage deal, according to a statement. The round was led by Saudi Arabia-based venture capital and private equity firm Impact46, the statement
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Financial Data Concerns Rise Amongst Digital Shift in the GCC
Illegal data collection and financial data theft have become major concerns amongst GCC consumers, according to a new report. The Ding Global Prepaid Index (GPI), a bi-annual global study by mobile top-up service Ding, found that GCC consumers are uneasy
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