RIYADH, Saudi Arabia—500 Global and Sanabil Investments Launch Eighth Cohort of Sanabil Accelerator to Boost MENA Innovation 500 Global, a leading multi-stage venture capital firm, in collaboration with Sanabil Investments—a financial investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF)—has announced the launch of the eighth cohort of the Sanabil Accelerator. This batch […]
RIYADH – November 11th, 2024 – Lean Technologies, a Riyadh-based fintech infrastructure platform, has secured $67.5 million in Series B funding led by General Catalyst, a renowned Silicon Valley-based venture capital group. The round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others. This brings Lean’s total […]
EdfaPay, a leader in electronic payment solutions, has announced a strategic partnership with OYAH!, a pioneering platform in social commerce that empowers Saudi businesses and customers through an innovative medium for sharing reviews, favorite purchases, exclusive offers, and cashback vouchers. This collaboration marks a significant enhancement to OYAH!’s customer experience, seamlessly integrating EdfaPay’s state-of-the-art payment […]
Riyadh, Saudi Arabia – Saudi Venture Capital (SVC) has announced a $20 million investment in Booster Fund IV, a new venture capital fund managed by BECO Capital, an established early-stage venture firm in the Gulf region with $495 million in assets under management across four funds. Booster Fund IV, operated by BECO Capital, is designed […]
RIYADH, November 6, 2024 — Jeel, the digital innovation arm of Riyad Bank, and audax Financial Technology (audax), a pioneering provider of digital banking technology solutions backed by Standard Chartered, have announced a strategic partnership to transform the digital banking ecosystem in Saudi Arabia. This collaboration brings together Jeel’s forward-looking digital expertise and audax’s established […]
Riyadh, Saudi Arabia – Mush Social, the Saudi-based social media platform known as “Mush,” has successfully raised $1.2 million (SAR 4.5 million) in a pre-seed funding round. The round was led by Nefal Advisory with additional investments from Nahr Aljazeera Holding Company and a group of angel investors. Founded in mid-2022, Mush Social aims to […]
Riyadh, Saudi Arabia — Teradix, a leading provider of advanced eProcurement solutions across the MENA region, has been awarded a $140,000 grant from the prestigious TAQADAM Accelerator programme at King Abdullah University of Science and Technology (KAUST). This funding aims to support Teradix’s ambitious expansion into the Saudi market, enhancing its capabilities to streamline procurement […]
Dubai, UAE – Mastercard has announced a strategic, multi-year partnership with leading digital B2B payments company, PayMate, to accelerate and simplify business-to-business (B2B) payments across Eastern Europe, the Middle East, and Africa (EEMEA). This collaboration aims to address significant B2B payment challenges in the region, including limited transaction visibility, manual invoicing, and restricted payment options—all […]
Ziraat Bank KSA, a subsidiary of Turkey’s Ziraat Banking Group, has successfully completed a major upgrade to its core banking system, Upgrading TAFC R17 to the TAFJ R24. This strategic upgrade was executed with the expertise of DevisersTech, a key player in delivering cutting-edge banking solutions in the region. DevisersTech played a pivotal role in […]
CAIRO: Fintech experts believe Saudi Arabia is positioned to lead the regional landscape in decentralized finance, and also solve some challenges on the horizon. With active support from the Saudi Central Bank, also known as SAMA, and initiatives like Vision 2030, the Kingdom is creating an ideal environment for solutions to so-called DeFi to flourish. […]