Riyadh – Exclusive Sharikat Mubasher: Abdullah Alsaud, Business Development Manager at Manafa, a crowdfunding fintech platform, told Sharikat Mubasher that Manafa signed a partnership with the Tourism Development Fund (TDF) during the Biban 24 Conference.

Alsaud added that this partnership aims to bolster SMEs working within the Tourism sector to enable them to obtain funds with competitive prices so that they can fuel their expansion and growth plans.

Alsaud further said that the Manafa platform offers various financing products for startups such as financing invoices, letters of guarantees, salaries, and procurement.

Founded in 2018 by Amr Murad and Abdulaziz Al-Adwani, the platform provides financial products for SMEs across a variety of sectors with debt and equity financing, which are based on a crowdfunding model. Licensed by the Saudi Central Bank and the Saudi Capital Market Authority, Manafa allows institutional investors, such as investment funds or financial institutions, to access financing opportunities amidst SMEs through debt and equity securities.

Worth mentioning that Biban 2024, Saudi Arabia’s flagship event for startups and entrepreneurs, kicked off last Tuesday under the theme ‘Global Destination for Opportunities,’ with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.