Riyadh - Sharikat Mubasher: The Saudi Financial Technology Company (AlinmaPay), the fintech arm of Alinma Bank, injected an undisclosed amount of investments into the early-stage VC fund Sukna Ventures, according to the company’s statement.

This investment underscores the company's efforts to foster technology startups in the Middle East and North Africa (MENA) region.

Sukna Ventures VC fund focuses on backing digital transformation businesses and empowering entrepreneurs in Saudi Arabia and the MENA region with value creation at all stages of building and growing their startups.

Musaad ALGadi, CEO of AlinmaPay, affirmed that the company targets achieving the strategy of Alinma Bank and its subsidiaries by investing in VC funds and injecting strategic investments directly into fintech companies in the Kingdom and beyond, in alignment with Vision 2030.