Riyadh, Saudi Arabia — October 2024: Tawaref, a Saudi-based investment community specializing in startup services across the MENA region, has announced its strategic acquisition of Amaana.ai, a leading artificial intelligence (AI) solutions provider. This acquisition strengthens Tawaref’s ability to offer comprehensive, AI-powered services to its expanding portfolio of startups and investors, significantly enhancing its support capabilities for businesses entering the Saudi market.
Amaana.ai, renowned for its expertise in automating essential processes such as licensing and banking setup, will integrate its streamlined services into Tawaref’s existing offerings. The acquisition positions Tawaref to deliver innovative financial and technological solutions across various industries, providing startups with cutting-edge tools to thrive in one of the world’s fastest-growing markets.
Saeed Al Ansari, CEO of Tawaref, highlighted the importance of this acquisition:
“The integration of Amaana.ai allows us to elevate our service offerings and reinforce our mission to support startups with advanced, AI-driven solutions. By blending our expertise, we’re providing smarter and more efficient tools to help our clients navigate the Saudi market with ease.”
Amaana.ai’s digital-first approach, combined with its strong government connections, will now be a key asset in Tawaref’s portfolio. This includes enhanced financial compliance services and AI-powered business solutions, which are set to play a crucial role in Tawaref’s expanded offerings, such as company formation, legal and accounting services, and government registration through the Saudi Landing Program.
Su Le, CEO of Amaana.ai, who will transition to the role of Advisor at Tawaref, commented on the acquisition:
“This is a significant milestone for both companies. Our shared vision of innovation and market leadership will empower entrepreneurs with the tools they need to accelerate their success in Saudi Arabia.”
Co-founders of Amaana.ai, including Njoud AlYousef, Tim Abbott, and Chris Hafner, echoed Le’s enthusiasm, emphasizing the strategic importance of this collaboration in fostering entrepreneurship and innovation across the region.
With the integration of Amaana.ai’s AI-driven solutions, Tawaref is poised to be a trusted partner for startups and established businesses alike, offering tailored services to streamline business entry and growth in the dynamic Saudi market.
This acquisition underscores Tawaref’s commitment to empowering entrepreneurs and investors by providing innovative, efficient, and tech-enabled solutions. As the company continues to expand its services, it solidifies its position as a key player in supporting the startup ecosystem across the MENA region.
