RIYADH — Saudi fintech Bwatech has raised $16 million (SAR 60 million) in a funding round led by Sharaka Financial, aimed at scaling operations and strengthening its role in the Kingdom’s digital financial infrastructure.
Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech provides an integrated fintech platform offering digital bank guarantees, account management, and open banking services. Its solutions are accessible via web and mobile platforms, as well as through API integrations that connect directly with corporate systems.
Currently operating within the Saudi Central Bank’s (SAMA) regulatory sandbox, Bwatech is focused on building efficient digital infrastructure to support corporate financial management. The company’s tools are designed to streamline business transactions across multiple banks, reducing inefficiencies and enabling faster, more secure financial operations.
Hashim Al Hekail, Founder and Chairman of Bwatech, emphasized the significance of the funding round: “This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion.”
The investment comes as Saudi Arabia accelerates its fintech sector development under Vision 2030, with a strong emphasis on open banking, financial inclusion, and innovation-driven corporate services.
