Riyadh - Sharikat Mubasher: Saudi fintech company Sindbad Tech successfully closed a $4.8 million seed funding round, led by Alkhabeer Capital, on the sidelines of the Money 20/20 Middle East conference.

This new capital will help Sindbad Tech scale its fintech solutions, develop advanced technologies that enhance transaction efficiency, and better serve individuals and enterprises, the company announced in a recent statement.

The round underscores the investor’s trust in autonomous finance and its role in developing the Kingdom’s digital financial infrastructure, in alignment with Vision 2030.

Sindbad Tech utilizes artificial intelligence (AI), big data, and automation to revolutionize crowd investing. Its advanced technology employs Algorithmic Robotic solutions to manage crowd investments efficiently and intelligently.  

The Money 20/20 Middle East took place in Riyadh from 15 to 17 September, bringing together more than 450 global and regional fintech brands and over 1,050 investors from around the globe.

Co-organized by Fintech Saudi and Tahaluf, the conference addressed key topics shaping the future of the financial sector, including artificial intelligence (AI) in financial services, open banking and open finance, instant payments, and data governance and regulations.