RIYADH — Saudi fintech Sindbad Tech has secured $4.8 million (SAR 18 million) in a seed funding round led by Alkhabeer Capital, announced during Money20/20 Middle East. The investment will fuel the company’s expansion into advanced fintech solutions, enhancing transaction efficiency and supporting Saudi Arabia’s Vision 2030 digital transformation goals.
Founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi, and Ziad Aqbawi, Sindbad Tech began as a research project focused on financial market movements through mathematical models and traditional indicators. Over the years, it has evolved into a fintech provider delivering investment and financial solutions for both individuals and enterprises.
The funding will be used to expand product offerings, develop new technologies, and improve financial infrastructure efficiency, positioning Sindbad Tech as a key contributor to the Kingdom’s growing fintech ecosystem.
Investors highlighted the round as evidence of confidence in autonomous finance and its potential to strengthen Saudi Arabia’s role as a regional fintech hub.
