RIYADH – Saudi Arabia-based fintech company Bwatech has secured $16 million (SAR 60 million) in a funding round led by Sharaka Financial, aimed at accelerating growth and expanding its presence in the Kingdom’s financial market.
Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech provides an integrated fintech platform offering digital bank guarantees, account management, and open banking services. The platform is accessible via web and mobile applications, with API integrations enabling seamless connectivity with corporate internal systems.
Operating under the Saudi Central Bank (SAMA)’s regulatory sandbox, Bwatech seeks to strengthen corporate financial efficiency and contribute to the Kingdom’s digital financial infrastructure.
Commenting on the announcement, Hashim Al Hekail, Founder and Chairman of Bwatech, said:
“This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion.”
The fresh capital will support Bwatech’s mission to enhance corporate financial management and further solidify its role as a leading fintech player in Saudi Arabia.
