Roberto Croci’s Post

💰 TechMal, a Saudi-based fintech, has raised $1 million in a pre-seed round led by Al Majidiya Investment Company, with participation from other investors. 💸 The funding will support TechMal’s mission to convert annual and semi-annual rent payments into manageable monthly installments via the Ejar platform. 🚀 Founded by Saud Al-Rebdi and Basil Alsuhaibani in 2024, TechMal is a micro-consumer finance company licensed by the Central Bank of Saudi Arabia (SAMA). 📈 The innovative service aims to make rental expenses more manageable for tenants, enhancing financial flexibility in the residential rental market. 🌍 The new funds will enable TechMal to expand its services and reach more customers, driving growth and innovation in the fintech sector. 🐢 Get more updates on MENA tech, VC funding, and industry deep dives straight to your inbox twice a week: https://lnkd.in/e6ihCpQr #fintech #Saudi #vcfunding #startups #realestate

Riyad Capital Launches 1957 Ventures Fund, Backed by Riyad Bank, to Transform Saudi Arabia's FinTech Landscape Nadir Al-Koraya, CEO of Riyad Bank, stated "The launch of the 1957 Ventures fund demonstrates Riyad Bank's unwavering commitment to driving FinTech innovation and digital transformation, this fund builds upon our track record of supporting cutting-edge initiatives in this pivotal sector. By empowering startups and entrepreneurs, we fuel Saudi Arabia's economic growth and diversification, aligning with the bold ambitions of Vision 2030. While proud of our past impact, we recognize the vast potential still ahead and are dedicated to fostering sustainable growth." https://lnkd.in/eWZ93Hv4 Abdullah Alshwer, PhD, CFA #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Saudi Arabia's fintech market has continued to thrive as a hub of innovation and growth, despite recent challenges in funding and valuations. According to MAGNiTT, the Kingdom secured $412m in venture capital investments in the first half of 2024, maintaining its lead in the MENA region for the second year running. With groundbreaking technologies and robust government initiatives like Fintech Saudi, Saudi Arabia's fintech ecosystem is poised for significant growth. The Kingdom aims to establish 525 fintech companies by the end of the decade and create 18,000 job opportunities, marking a threefold increase from 2023. Vision 2030 targets a direct contribution of SAR13.3bn to GDP from fintech, up from SAR1bn, alongside a rise in VC contributions to SAR12.2bn. The inaugural 24 Fintech Summit, held from September 3-5 in Riyadh, showcased the innovation driving Saudi Arabia’s ambitions to become a leading fintech hub in the Middle East. 🚀 #24Fintech #SaudiVision2030 #FintechInnovation

FinTech, FinTech, FinTech - Riyadh’s energy is absolutely electric this week! ⚡️ Conference season is truly in full swing when your flight to #Riyadh is full of key ecosystem players heading to 24 Fintech to start the post summer period (great catching up with Dany Farha, Walid Faza, Hosam Arab (MVP) and Joe Abi Akl on the flight) 💼 Today I am delivering a keynote this afternoon at 14:30 on the Fusions stage on the state of #MENA #FinTech. Come say hi if you are at the event or drop me a DM, I’d love to see you there! MAGNiTT’s data shows a staggering 650% growth in MENA’s FinTech sector from 2020 to 2023, making it the top choice for investors in H1'24. 🌍 And guess what? FinTech isn't just leading the pack in MENA —it’s dominating across all emerging venture markets! Can’t wait to share my thoughts on the future of this dynamic industry, the opportunities ahead, and the key players who are driving innovation. A big shoutout to Tahaluf and Fintech Saudi for making this inaugural Fintech event in KSA a reality! It is great to see regulators, central bankers, founders, investors and corporates engaging on driving this space forwards. (Special shout out to Dalia Kamar and Sheryl Carvalho on the Venturescape event yesterday!) There is continued momentum globally in FinTech. After the success seen in E-commerce and Logistics, #FinTech leads the way in the wider disruption. Can’t attend the event, and want to know all the industry details? Get the report here:  https://lnkd.in/dsXRmUkR Any questions you want me to address in my key note? Drop them 👇 and I will try my best to address them. #Fintech #KSA #Startups #SaudiArabia #Startups #Innovation #VentureCapital #Investments

Thanks to innovative venture partners such as margaris ventures, Saudi-based #startups and entrepreneurs are poised to produce more #fintech solutions than ever. Read our latest #SMEMonitor to learn how new technologies and funding opportunities are improving the scope of financial services in Saudi Arabia and positioning the Kingdom to become a leading fintech hub for MENA and beyond. To read the report: https://lnkd.in/eKEec84x

TechMal Secures $1 Million in Pre-Seed Investment! Saudi Arabian fintech startup TechMal has raised $1 million in a pre-seed funding round, led by الماجدية | Almajdiah alongside other investors. Founded in 2024, TechMal focuses on providing micro-consumer finance solutions for the residential rental market. Licensed by the Central Bank of Saudi Arabia (SAMA), TechMal's platform enables tenants to convert annual or semi-annual rental payments into manageable monthly installments, easing the financial burden and promoting flexibility in rental payments. Key Highlights: » Funding Round: Led by Al Majidiyah, with participation from other investors. » Service Offering: TechMal provides financing solutions for residential rental payments, allowing tenants to pay in monthly installments via the Ejar platform. » Market Position: As a licensed micro-consumer finance company, TechMal aims to support the growing rental market in Saudi Arabia. ❝ Saud Al-Rebdi, co-founder of TechMal, stated, "This investment round reflects the strong interest in real estate finance. We are excited to join forces with partners who share our vision of transforming rental financing." Read more at Rasmal https://lnkd.in/g76jS9dA #TechMal #Fintech #Investment #SaudiArabia #Startup #BusinessNews #Rasmal #Innovation

Saudi venture capital sector continues to expand as mentioned in this article from Arab News: https://lnkd.in/ePfTu5hZ It’s the need of the hour and the need is not just access to more “dry powder” but greater variety in terms of the type of capital (from grants to debt), sources of capital (more CVC would be great) and smarter capital. Examples such as SVC pledgeding a significant investment in a private equity fund managed by the renowned US-based investment firm General Atlantic is one excellent example and the creation of a CVC fund between Riyad Capital and Riyad Bank is yet another positive development. More such developements are on its way. The momentum seems to be gathering pace, the quality of deployment will need to be as good. A recent viewpoint from Arthur D. Little which I had the privilege to co-author on the State of the KSA Fintech Ecosystem (shared in the comments box below) also stressed on the above as an important development need for the ecosystem to continue thriving …. Tammer Qaddumi Amal Dokhan Mazen Pharaon Nabeel Koshak Mohammad Nikkar, PhD Omar Al-Shabaan Khaled Talhouni Noor Sweid Saeed A. Assiri #venturecapital #startups #privateequity #dealflow #fintech

According to the latest official report from the General Authority for Small and Medium Enterprises (MonshaatSA), Saudi Arabia’s financial technology startups have secured over $1.84 billion in venture capital investments since 2018. This significant achievement is largely attributed to the Fintech Saudi initiative, which has been a key driver of growth in the sector.

This growth will be driven by the region’s booming digital economy, its large population of young and digitally savvy consumers, and a supportive regulatory environment. -with PwC DIFC Abu Dhabi Global Market (ADGM) Bahrain FinTech Bay Qatar FinTech Hub Fintech Saudi | فنتك السعودية https://lnkd.in/guPE8dPy #MENA #fintech #funding #startups

FlapKap, a fintech platform founded in Egypt and based in Abu Dhabi in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani 🔥, has successfully raised $34 million in a pre-Series A funding round. The funding round was led by BECO Capital and included significant new investments from Pact VC, along with additional contributions from A15, Nclude, QED Investors, and debt financing from Channel Capital. FlapKap plans to use the new funding to expand its financing services for small and medium-sized enterprises (SMEs) across the Middle East and North Africa (MENA) and the Gulf Cooperation Council (GCC) region. Source: https://cutt.ly/yeE1SlDt #t20egypt #startups #entrepreneurship #networking #investing #technology #google #digital #funding #egypt #banking #fintech