Tagged: saudi arabia

VC Arm of Saudi Aramco Entrepreneurship Center, Wa’ed Ventures Looks to Fund Fintechs in Partnership with Maydan Capital

Saudi Arabia Money

Wa’ed Ventures, the VC arm of Saudi Aramco Entrepreneurship Center, has signed a Memorandum of Understanding (MOU) to provide “ethically focused Fintech startups” with access to investment in the Kingdom of Saudi Arabia.  Maydan Capital, an investment platform based in the UK, has been enlisted to… Read More

Checkout.com Issuer Outreach Team Is Minimizing Payments Failure in Saudi Arabia

Saudi Arabia Money

Saudi Arabia is one of the most vibrant and dynamic nations. And as part of its Vision 2030 plan, the country’s government has “set ambitious goals to digitize and transform its economy.” At Checkout.com, they have the privilege of “being an active participant in accelerating… Read More

UAE’s BitOasis Introduces New Digital Asset Trading Features

Sunset Florida Palm Trees Tropical Nature

Having served a key role in the regional cryptocurrency and blockchain sector since 2015, BitOasis claims to have established its reputation as one of the most “trusted” virtual currency trading platforms in the UAE (and MENA region). Being part of a fast-evolving crypto industry, there… Read More

Sequoia Capital India, Saudi VC Firm STV Lead $54M Round for MENA Fintech Tabby

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Sequoia Capital India and Saudi Arabia based VC company STV have reportedly led a $54 million round for Tabby, which claims to be one of the largest Buy Now, Pay Later (BNPL) providers in the Middle East. As the overall demand for Fintech services continues… Read More

BSV Blockchain Global Advisory Members Announced

Blockchain DLT Distributed Ledger Technology

The BSV blockchain’s Switzerland-based industry association this week announced the formation of a BSV Blockchain Global Advisory Council. The council brings together senior professionals and thought leaders from diverse industries who support the growth of blockchain technology. While they may be blockchain-agnostic, council members will advise… Read More

Saudi Arabia based Fintech EdfaPay Secures $1.6M via Pre-Seed Round

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Saudi Arabia-headquartered Fintech firm EdfaPay has secured $1.6 million (appr. SAR 6 million) in capital via its latest investment round. The pre-seed investment has reportedly been led by Nuwa capital, InspireUs VC, Wallan Investment group, and angel investors. The proceeds will be a core driver… Read More

Digital Banking: Saudi Arabia Wealth Fund PIF backs $440M Virtual Bank

Saudi Arabia Money

Saudi Arabia’s sovereign wealth fund is now an investor in a new virtual bank being launched in the Middle Eastern nation with a capital of SAR 1.65 billion (appr. $440 million). The Saudi cabinet has reportedly approved a license for D360 bank (on Tuesday), the… Read More

Digital Banking: Al Rajhi Bank Malaysia Chooses Thought Machine to Build Islamic Virtual Bank

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Al Rajhi Bank Malaysia (ARBM), a wholly-owned subsidiary of one of the world’s largest Islamic banks in terms of assets, Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), has chosen Thought Machine, the Cloud native core banking tech company, in order to power… Read More

Saudi Arabia based Fintech Lean Technologies Acquires $33M from Sequoia Capital, Others

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Sequoia Capital has reportedly made its first investment in the Gulf / MENA region by leading an investment round for Lean Technologies, a Saudi Arabia-based Fintech company whose founders include the son of the kingdom’s former oil minister, Khalid Al-Falih. Lean Technologies, which allows firms… Read More

Fintech Accelerator to be Launched by Entrepreneurship Division of Saudi Aramco

Saudi Arabia Money

Wa’ed, the entrepreneurship division of Saudi Aramco, has been working with Fintech Saudi as a key partner, along with local seed and early-stage VC company Flat6Labs, in order to introduce a 12-week Fintech Accelerator program. The new Fintech Accelerator will focus on supporting the ongoing… Read More

Cashfree Payments Bets $15M on Middle Eastern PSP Telr

Saudi Arabia Money

Payments and API banking solutions company Cashfree Payments this week announced an equity investment of $15 million in Telr, a Saudi  Arabia and United Arab Emirates-based payment service provider. With this investment, Cashfree becomes one of the largest shareholders in the company. Cashfree said this… Read More

$50M MENA Region Fintech Fund I Launched by Early-Stage VC Firm VenturesSouq

ryan miglinczy MENA Middle East Grand Mosque Abu Dhabi UAE

GCC-headquartered early-stage VC company VentureSouq has introduced a $50 million MENA region Fintech Fund I. As mentioned in the announcement, the MENA Fintech Fund I is the first sector-wide Fintech-focused fund to be introduced across the Middle East area and Pakistan. The new Fund is… Read More

Saudi British Bank Introduces Instant Cross-Border Transfer Service for US Corridor, Powered by Ripple

Saudi Arabia Money

Saudi British Bank (SABB) has announced the launch of its Instant Cross-Border Transfer Service for the United States Corridor via the blockchain payment tech powered by Ripple. The launch of this service was confirmed during the fifth edition of “The Future Investment Initiative Institute” led… Read More

Fintech Investments in Saudi Arabia Surge to $347M During Past Year: Report

Saudi Arabia Money

During the past year, the Fintech sector in Saudi Arabia has experienced steady growth. This, according to the Fintech Saudi Annual Report for 2020/2021. The number of Saudi Arabia-based Fintechs increased by 37% with an investment amount surpassing SAR 1.3 billion (appr. $347 million). Nejoud… Read More

Global Processing Services Establishes MENA Region Office, Hires Payments Professional, Arnav Rath

Middle East Door MENA

Global Processing Services (GPS), the Paytech Pioneer behind major Fintech challengers, reveals that it has established its MENA region office and hired payments professional, Arnav Rath, as Head of Region. Based in Dubai, the team will focus on leveraging its international reach and payments expertise… Read More

Positive Facilities or Ejabiah in Saudi Arabia Awards Core Banking System Contract to Islamic Software Provider Path Solutions

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The newly formed financing firm in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), has reportedly entered an agreement with Path Solutions for the introduction of its interest-free Core banking platform. Ejabiah will be providing a unique 0% interest financing product, which is somewhat similar to… Read More

Saudi Digital Payments Fintech CashIn Secures $1.6M via Seed Round led by Mine, BIM Ventures, Others

Saudi Arabia Money

Saudi Arabia-headquartered virtual payment and point-of-sale (POS) solutions provider CashIn has reportedly acquired SAR 6 million (appr. $1.6 million) in capital through a seed round. CashIn’s investment round has been led by investor Mine. Saudi venture capital firm BIM Ventures also took part in the… Read More

MENA Region Startup Ajar to Offer Property Management and Rental Collection Services in Bahrain

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Ajar, a MENA region rental collection platform, reveals that it has expanded its business operations to the Kingdom of Bahrain. With an established presence in Kuwait and the United Arab Emirates (UAE), the firm will be providing its property management and rent collection services in… Read More

UAE based BNPL Fintech tabby Acquires $50M via Series B led by Global Founders Capital, STV

UAE Money Currency dirhams

UAE-headquartered Buy Now, Pay Later (BNPL) Fintech tabby has acquired $50 million in capital as part of its recent funding round. tabby’s Series B investment round has been led by Global Founders Capital and STV. Delivery Hero, CCVA and several other backers of tabby took… Read More

Saudi Arabia based Islamic P2P Lending Marketplace Forus Capital Acquires Series A Funding

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Forus Capital, a Saudi Arabia-headquartered Islamic P2P lending marketplace, has secured funding via a Series A round (for an undisclosed amount). As noted by its management: “Forus Capital [is an] Islamic debt marketplace that enables investors to invest in a marketplace of alternative loans targeted… Read More

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