Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
GO Telecom’s subsidiary GO Money received final approval from SAMA to offer micro-consumer financing in Saudi Arabia, operating with SAR 20 million capital and supporting Vision 2030 goals to expand the Kingdom’s digital financial services ecosystem.
Saudi fintech Sindbad Tech raised $4.8 million in seed funding led by Alkhabeer Capital. The funds will support expansion of its fintech solutions, boost transaction efficiency, and align with Vision 2030’s digital transformation goals, reinforcing Saudi Arabia’s growing position as a regional fintech hub.
Saudi fintech Bwatech has raised $16 million led by Sharaka Financial to expand its integrated platform for bank guarantees, account management, and open banking. Operating in SAMA’s sandbox, Bwatech is building efficient corporate financial infrastructure to support Saudi Arabia’s fast-evolving digital economy.
Saudi-based Oumla has raised $2.4 million in seed funding, led by Core Vision with backing from Avalanche and angel investors. The fintech startup provides digital asset custody, blockchain connectivity, and tokenisation solutions, with plans to expand partnerships across regulators, banks, and government entities in the Kingdom and region.
Money20/20 Middle East will debut in Riyadh this September with founding partners including AlRajhi Bank, Riyad Bank, STC Bank, Saudi National Bank, Tamara, Visa, and Vision Bank. The event expects 45,000+ attendees, 600 investors, and 450 exhibitors, cementing Saudi Arabia’s role as a rising global fintech hub.
Saudi Arabia’s Capital Market Authority has launched a consultation on draft rules to allow financial institutions to provide robo-advisory services. The initiative supports fintech growth, expands investment options, and reflects the Kingdom’s push toward modern, technology-driven financial markets.
MoneyGram and tiqmo join forces to offer seamless international money transfers across Saudi Arabia, advancing financial inclusion and supporting Vision 2030’s digital finance ambitions.
HyperPay has secured a licence from the Saudi Central Bank (SAMA) to advance digital payment services in Saudi Arabia. This move supports the company’s expansion and aligns with Vision 2030, aiming to enhance financial efficiency and inclusion. HyperPay also plans to go public in Saudi Arabia by 2025.