Saudi Arabia-based fintech startup Arib has raised US$23.5 million in a new funding round led by Merak Capital, as the company looks to strengthen its position in the Kingdom’s rapidly growing digital finance sector. The funding round also included Sharia-compliant Murabaha financing facilities, highlighting increasing investor interest in Islamic fintech solutions and digital lending services […]
Riyadh: BlueFive Capital is pleased to announce it has signed a binding share subscription agreement with Gulf General Cooperative Insurance Company, a publicly listed company on Saudi Arabia’s Stock Exchange. The agreement sets out a series of actions to restructure the Company’s share capital in order to strengthen the Company’s financial position. It includes: Reducing the […]
Stitch, the operating system built for modern financial institutions, today announced it has raised $25 million in Series A funding led by Andreessen Horowitz (a16z). The investment marks a16z’s first in the GCC and brings Stitch’s total funding to $35 million. In addition to a16z, existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC […]
Saudi-based healthcare supply chain platform Aumet has raised USD 12 million in a Series A funding round to expand its AI-powered procurement operating system across healthcare systems in the GCC and international markets. The round was led by Emkan Capital, with participation from Qatar Development Bank, SABAH Fund, and AAIC. Existing investors Shorooq Partners and […]
The Riyadh-born payments platform brings total seed funding to $9.2 million, with participation from Outliers, STV, Flourish, Arab Bank and BYLD. Riyadh, Saudi Arabia – 12 May, 2025 – Stream, the Riyadh-born payments and billing platform, has announced a $5.2 million seed extension. This comes less than six months after closing its initial seed round; […]
Riyadh, Saudi Arabia – Merak Capital, a Saudi-based investment firm licensed by the Capital Market Authority, leads a $1.65M investment round in Hakeem Health alongside Sanabil 500. Hakeem Health is a healthcare technology company developing an AI-powered medical assistant that delivers real-time, evidence-based clinical insights at the point of care in multiple languages. Hakeem Health’s flagship […]
Khwarizmi Ventures has announced the first close of its second venture capital fund, securing commitments exceeding SAR 270 million (more than $70 million) to support early-stage technology startups across the Gulf Cooperation Council (GCC) region. The new fund will focus on seed and Series A investments, with initial ticket sizes ranging between $1 million and […]
Saudi digital health startup Metafare has closed its first funding round at $1 million, backed by Harmonics Ventures and a group of family offices, as it looks to scale its AI and virtual reality-powered healthcare platform. The funding will support the company’s expansion across Saudi Arabia, development of its AI-driven personalisation technologies, and growth of […]
Saudi Arabia-based contech platform BRKZ has secured a strategic investment from Saudi Industrial Investment Company (SIC), the investment arm of the Saudi Industrial Development Fund (SIDF), marking a significant milestone in the Kingdom’s push to digitise and scale its industrial ecosystem. Founded in 2023 by Ibrahim Manna, BRKZ operates as a B2B construction technology (contech) […]
JEDDAH, Saudi Arabia — Sahm Capital, a fully licensed financial company regulated by the Capital Market Authority (CMA), has opened a new office in Jeddah, marking a key step in enhancing its service capabilities to support its rapidly growing investor base across Saudi Arabia. Located in the Al Zahra district on King Abdul Aziz Road, the […]