Riyadh - Sharikat Mubasher: The Saudi-based Abyan Capital secured SAR 68 million in a series A round led by the Saudi Technology Ventures Company (STV), with participation from Wa'ed Ventures and RZM Investment, the company announced in a press release.
Abyan will dedicate the funds to enhance its platform, expand its financial products portfolio, and accelerate market penetration across the investment solution value chain.
The proceeds will also support the company’s mission to provide access to advanced investment tools and instruments, enabling a wider segment of the population to participate and benefit from global and local financial markets.
Saleh Alaqeel, Co-founder and COO of Abyan Capital, stated that the funding highlights the potential of the burgeoning modern investment industry in the Kingdom.
He noted that Abyan has successfully processed over 4 million trades and more than 600,000 dividend distributions for its users since its launch in 2022.
For his part, Fahad Alidi, Managing Director of Wa’ed Ventures, affirmed that investing in Abyan Capital reflects the company’s commitment to back high-growth companies that advance financial inclusion in the region.
Abyan Capital is the first robo-advisory company in The Kingdom that provides a wide selection of automated, easy-to-use, and Shariah-compliant investment and savings solutions that enable users to manage their investments, optimize their asset allocations, and achieve their financial goals seamlessly.
