Riyadh - Sharikat Mubasher: Qannas, the Saudi open finance platform, closed a pre-seed funding round led by Core Vision Investment Company with the participation of several angel investors, a recent statement unveiled.

The statement did not reveal the round value or any further details.

Founded in 2022 by Basil AlBahir, Qannas provides open banking, open finance, and AI and data analytic products to enable users to open and manage multiple investment portfolios and measure their performance at the same time in one platform.  

It also offers users various methods to link their portfolios, notably the National Single Sign-On Services, to verify investors’ data with complete accuracy and high efficiency.

Qannas analyzes the portfolios’ performance and compares it with the performance of the market, in addition to measuring the risk level of users’ portfolios according to scientific standards.

In a short period, the Qannas platform attracted more than 8,000 new users, recording a 230% jump in subscription numbers compared to the last year.

Meanwhile, Core Vision is a venture capital firm that specializes in identifying and investing in visionary founders who have the passion, capabilities, and perseverance to transform their ideas into reality.

The Saudi-based company invests in businesses that fall into categories such as software as a service (SaaS), Edtech, e-commerce, enterprise solutions, and fintech.

Moreover, it provides the necessary resources and connections to help its portfolio companies grow and make a positive impact on the world.