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. […]
Riyadh, Saudi Arabia — October 2024 — In a significant development for the region’s investment sector, BIM Ventures and Japan-based SBI Holding have announced the launch of BIM Capital, a pioneering joint venture focused on harnessing growth opportunities across Saudi Arabia and the wider Middle East. The announcement took place at the Future Investment Initiative […]
RIYADH — Saudi Arabia’s Public Investment Fund (PIF) and Google Cloud have signed a landmark strategic partnership to establish a global artificial intelligence (AI) hub in Dammam, located in the Eastern Province. Announced during the 8th Future Investment Initiative (FII8), this collaboration aims to position Saudi Arabia as a premier destination for AI innovation, serving […]
In a strategic acquisition, Ayen, the Riyadh-based real estate inspection platform, has acquired the Cairo-based construction technology (contech) startup Elmawkaa in a seven-figure deal. This milestone positions Ayen to expand its portfolio of services, enhancing its market reach and solidifying its presence in the regional real estate and construction sectors. Ayen’s Founder and CEO, Ali […]
Riyadh, October 2024 – Beta Lab, a deep tech fund and innovation studio, has launched a groundbreaking USD 300 million fund at the Future Investment Initiative (FII) 2024. Designed to stimulate cross-border innovation, this fund aims to bridge the Middle East and Southeast Asia, empowering technology-driven startups to expand into high-growth markets and tackle global […]
Riyadh, Saudi Arabia — Saudi-based PropTech platform ARK has successfully raised $1 million in a pre-seed funding round led by Core Vision Investment. This fresh capital is set to bolster Ark’s capabilities in Saudi Arabia’s dynamic real estate market, positioning the platform to deliver innovative, Shariah-compliant investment solutions that meet growing demand. Founded in 2023 […]
Riyadh, Saudi Arabia – Wa’ed Ventures, the $500 million venture capital arm of Aramco, has announced a $100 million commitment to early-stage artificial intelligence (AI) investments, reinforcing Saudi Arabia’s ambition to establish itself as a global leader in AI. This significant move aligns with the Kingdom’s broader vision to position AI as a key economic […]