Saudi Arabia
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
Read More
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
Read More
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
Read More
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,
Read More
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
Read More
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
Read More
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
Read More
Saudi Fintech Tweeq Raises an Undisclosed Seven-Figure Funding
Tweeq, a Saudi-based provider of spending accounts for individuals and SMEs, announced the closure of an undisclosed seven-figure investment round, co-led by STV and Raed Ventures. The funding round, which follows on the heels of the company’s exclusive partnership with
Read More
Amazon’s Alexa to Roll Out Skills Kit in Saudi and UAE by End of 2021
Developers can start building voice experiences, called “skills” for customers in the Kingdom of Saudi Arabia and the United Arab Emirates (UAE) using Amazon‘s Alexa Skills Kit (ASK). Skills that developers create which is certified for publication, will be available
Read More
Dubai’s P2P Payments Firm Ziina Raises US$7.5 Million Ahead of Saudi Expansion Plans
Ziina, the UAE’s Peer-to-Peer (P2P) payment application backed by Y-Combinator (YC), announced its latest funding round of US$7.5 million. The round will help the company launch its new wallet service and fuel its expansion into Saudi Arabia. Ziina plans on
Read More