Riyadh, Saudi Arabia – October 23, 2024 – Mastercard has announced the launch of a world-class technology infrastructure in Saudi Arabia, designed to enhance the processing of e-commerce transactions locally. This significant development promises to deliver a seamless and secure payment experience for Mastercard partners and consumers, supporting the Kingdom’s digital commerce acceleration. Under the […]
Riyadh, Saudi Arabia – The Saudi National Bank (SNB) has reported a 3.91% year-on-year (YoY) increase in net profit, reaching SAR 15.63 billion during the first nine months of 2024, compared to SAR 15.04 billion in the same period last year, according to the bank’s interim financial statements. Earnings per share (EPS) for the nine-month […]
Riyadh, Saudi Arabia – October 2024 – The Saudi startup platform Mala has successfully raised $7 million in a pre-seed investment round led by Venture Souq, with participation from prominent investors including M Capital, BECO Capital, Access Bridge Ventures, Palm Ventures, Shorouq Partners, Wad Investment, and the DGV fund. Set to officially launch in Saudi […]
Riyadh, Saudi Arabia — The Saudi Central Bank (SAMA) has announced the release of updated regulations for debt-based crowdfunding, marking a significant step forward in the Kingdom’s efforts to enhance its financial ecosystem and foster the growth of the FinTech industry. This latest move reflects SAMA’s commitment to regulating debt-based crowdfunding platforms while continuing to […]
October 17, 2024 | Dubai, United Arab Emirates: Mastercard has partnered with noon Payments, one of the leading payment service providers in the Middle East and North Africa (MENA), to bring its innovative Payment Passkey Service to the region. The service will initially launch in the United Arab Emirates (UAE), with plans for a broader […]
Riyadh, Saudi Arabia — JARAS Hospitality, a rising leader in innovative hospitality management solutions, has successfully closed its pre-seed funding round, raising SAR 2.5 million. This significant investment marks a pivotal step in supporting the company’s ambitious expansion plans and commitment to enhancing operational efficiency in the hospitality sector. Founded in 2023, JARAS offers a […]
Riyadh, October 2024 – Saudi Venture Capital (SVC) has announced a $15 million investment in Saqr Fund II, a venture capital fund managed by Vision Ventures. The fund, which is targeting a total size of $90 million, is focused on investing in early-stage startups, from pre-seed to pre-series B, across Saudi Arabia and the broader […]
A Pioneering Collaboration Streamlines Clinical Documentation, Empowering Healthcare Professionals and Enhancing Patient Care Sahl AI, a healthcare technology startup co-founded by Ammar, a former Accenture consultant, and his brother, a haematologist with a Ph.D. in translational medicine, is driving transformative change in the Saudi healthcare sector through a strategic partnership with Riyadh First Health Cluster […]
Riyadh, Saudi Arabia — October 2024: Tawaref, a Saudi-based investment community specializing in startup services across the MENA region, has announced its strategic acquisition of Amaana.ai, a leading artificial intelligence (AI) solutions provider. This acquisition strengthens Tawaref’s ability to offer comprehensive, AI-powered services to its expanding portfolio of startups and investors, significantly enhancing its support […]
Riyadh, Saudi Arabia – In a strategic move to foster the development of national talent in the securities sector, the Financial Academy has signed a Memorandum of Understanding (MoU) with Al Rajhi Capital. This partnership aims to promote continuous professional training, develop leaders and professionals, and qualify fresh graduates in the industry. Through this collaboration, […]