Riyadh-based foodtech startup Calo, the Middle East’s largest personalised meal subscription service, has announced raising SAR 94 million ($25 million) in its Series B funding round. The round was led by Nuwa Capital, with participation from STV, Khwarizmi Ventures, and regional family offices. This oversubscribed round underscores strong investor confidence, prompting Calo to extend its Series B to…
The Saudi Central Bank (SAMA) announced the launch of ‘Samsung Pay’ through the national payment system ‘mada’ in Saudi Arabia as part of its ongoing efforts to enhance the digital payments ecosystem in the Kingdom, aligning with the Saudi Vision 2030. This initiative aims to promote financial inclusion and expand the use of fintech solutions…
Riyadh, Saudi Arabia – Merak Capital, a prominent technology-focused investment firm, has unveiled its SAR 306 million gaming fund and accelerator, Exel by Merak, to drive the growth of gaming startups and position Saudi Arabia as a global hub for gaming innovation. The launch event, held on November 17, 2024, at the VOV Gaming Centre in Riyadh,…
Bubbl Raises $350,000 in Pre-Seed Funding, Eyes Global Expansion Riyadh, Saudi Arabia – Bubbl, the fast-growing social networking platform, has secured $350,000 in a Pre-Seed funding round led by prominent angel investor Abdullah Al-Dosari. The app, founded by Aya Al-Hammoud and launched in March 2024, has quickly become a sensation, amassing over 60,000 daily active users…
Riyadh — Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 2024, marking a significant 14.24 percent increase compared to the same period last year, according to data released by the Saudi Central Bank (SAMA). The surge in credit card borrowing reflects evolving consumer preferences driven…
CAIRO: Fintech experts believe Saudi Arabia is positioned to lead the regional landscape in decentralized finance, and also solve some challenges on the horizon. With active support from the Saudi Central Bank, also known as SAMA, and initiatives like Vision 2030, the Kingdom is creating an ideal environment for solutions to so-called DeFi to flourish….
Riyadh, Saudi Arabia – Wa’ed Ventures, the $500 million venture capital arm of Aramco, has announced a $100 million commitment to early-stage artificial intelligence (AI) investments, reinforcing Saudi Arabia’s ambition to establish itself as a global leader in AI. This significant move aligns with the Kingdom’s broader vision to position AI as a key economic driver, with…
Paymob has unveiled its latest innovation: a state-of-the-art Global Checkout solution now available in Egypt, UAE, Saudi Arabia, Oman, and Pakistan. This powerful tool supports over 20 payment methods, including OTP-less options like Apple Pay and Google Pay, ensuring a seamless payment experience for merchants and customers alike. The new Checkout is designed to offer…
