Riyadh, Saudi Arabia – In a landmark development, UmrahCash, a fintech startup based in Riyadh, has secured a $500,000 investment from Adaverse Venture Fund, marking a significant step toward modernizing the Umrah pilgrimage experience. This innovative solution aims to address financial challenges faced by pilgrims, particularly from developing nations, by providing seamless access to Saudi […]
Riyadh, Saudi Arabia – : Malaa, a wealth management company authorized by the Saudi Central Bank and operating within its regulatory sandbox, has successfully closed its Series A funding round, raising SAR 65 million (USD 17.3 million). The funding round was led by SNB Capital, the largest asset manager in the Kingdom, with participation from […]
Riyadh, Saudi Arabia – : Thakaa Med, a pioneering AI-driven healthcare innovator and a proud member of the Falak Angels Alumni, has successfully secured its first seed round investment through a syndicate led by Falak Angels. This strategic capital infusion will be instrumental in accelerating the enhancement of Thakaa Med’s advanced AI models and supporting […]
Riyadh, Saudi Arabia – Resal, a leading Saudi company specializing in digital cards, rewards solutions, and loyalty programs, has successfully closed a $9 million investment round. This round saw participation from prominent investors, including Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, and a […]
Riyadh-headquartered fintech startup Hala has secured significant contemporary funding from leading global private equity firm TPG, according to a report by The Data last week. While the startup has not yet publicly announced this deal, it marks a notable development in its growth trajectory. The specific details of the investment remain undisclosed, but the report […]
RIYADH, May 20, 2024 – Riyadh-headquartered rewards and engagement platform Merit has successfully raised $12 million in an oversubscribed pre-Series B funding round. The round was led by Alistithmar Capital i-Cap, the investment arm of The Saudi Investment Bank (SAIB), with participation from existing investors, including Saudi’s Tech Invest Com and Hambro Perks Oryx Fund, […]