Saudi Arabia

The 5 Digital Banks in Saudi Arabia You Need to Know

Digital banking in Saudi Arabia is at a particularly interesting junction right now. Much has been said about how the country is at the precipice of a banking revolution, but the results have perhaps been slow to show. There’s a

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These Are the Most Popular Islamic Banks in the MENA Region

According to a new report by Carma, Kuwait Finance House (KFH) is the most popular MENA-based Islamic bank by media presence. The report outlined the top Islamic banks in the MENA region by media visibility and favourability. The report studied

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Fatoorah-Compliant Payments Platform CashIn Raises US$1.6M

Saudi Arabia-based digital payment and POS solutions startup CashIn has raised SAR 6 million, or US$1.6 million, in a seed funding round, the company said in a statement. The round was led by Investor Mine, according to the statement. Saudi

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Emirati Insurtech Klaim Raises US$1.6 Million

UAE-based healthcare financing solution Klaim has fetched US$1.6 million in a pre-Series A funding round, according to an announcement by the company. The round was led by Mad’a Investments, a private equity firm in Saudi Arabia. It also received participation

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Gen Z, Millennials Drive Saudi Fintech Adoption

Cash usage is declining amongst growing Saudi fintech adoption, according to the findings of Fintech Saudi’s National Fintech Adoption Survey. Fintech Saudi announced the results of the National Fintech Adoption Survey, which it conducted in early 2021. The survey assesses

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9 Startups Lead Saudi Fintech Startup Funding in H1 2021

The first half of 2021 has been eventful for Saudi fintech startup funding. H1 saw deal sizes ranging from as little as US$670,000 to a hefty US$110 million. Moreover, ranking second by funding in the MENA region, VC funding increased

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Saudi Lending Fintech Forus Capital Picks Up Series A Funding

Forus Capital, a Saudi Arabia-based Islamic P2P lending marketplace, has raised a Series A round of funding for an undisclosed amount, the company announced in a statement today. The round was co-led by Saudi conglomerate Yazeed Alrajhi and Brothers Holdings,

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QPS Global to Pour Us$10 Million Into Middle East Expansion

US Fintech company QPS Global will be expanding its operations in the Middle East, the company has announced. To this end, the company will be making an investment of US$10 million in the region over the next 6-12 months. The

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Mambu Launches New SME Financing Product

Global SaaS cloud banking platform Mambu has launched a new digital banking platform for SME financing, according to a statement today. The platform gives banks and fintechs access to scalable loan management technology. It also offers a network of partner

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STC Pay Clinches One of the Two Digital Bank Licenses in Saudi

The Saudi cabinet has granted a digital bank license to STC Pay, a digital payments company which is a fully owned subsidiary of Saudi Telecom. STC Pay will be converted into a local digital bank, with a capital of SAR

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