Riyadh, Saudi Arabia — Salica Investments’ Oryx Fund has announced a strategic investment in Amwal Tech, a rapidly growing Saudi fintech startup transforming the digital payments landscape through cutting-edge instalment and authentication solutions tailored for e-commerce.
Amwal Tech enables seamless bank instalment payments via pre-approved credit limits, empowering customers to make smarter and more flexible payment choices. The startup also ensures secure and frictionless transaction processing through its advanced FIDO-based authentication system, reinforcing trust in every transaction.
This partnership marks a significant milestone in Amwal Tech’s mission to redefine embedded finance in the region. By offering innovative high-limit and instalment payment solutions, Amwal is making digital transactions more accessible and efficient for both merchants and consumers.
“We are thrilled to support Mohamed Zaghoo and the entire team at Amwal Tech as they lead the charge in reshaping the payment experience in Saudi Arabia and beyond,” said Ivo Detelinov, CFA, General Partner at Oryx Fund. “Our belief in their vision is a testament to the potential of embedded finance to drive financial inclusion and digital transformation across the region.”
Amwal Tech expressed its enthusiasm about the new partnership. “We are proud to welcome Oryx Fund as a strategic investor,” said Mohamed Zaghoo, Founder and CEO of Amwal Tech. “The trust and support from Ivo Detelinov, Sara Enan, and the entire Oryx Fund team is a strong vote of confidence in our mission. We’re excited to leverage this partnership to scale our technology across Saudi Arabia and the wider MENA region.”
This investment underscores a shared vision to accelerate the evolution of the fintech sector in the Kingdom, aligned with the goals of Saudi Arabia’s Vision 2030.
