Sindbad Tech Secures $4.8 Million Seed Funding to Fuel Fintech Innovation in Saudi Arabia
Saudi Arabia’s fintech landscape is heating up, with Sindbad Tech announcing a successful $4.8 million seed funding round led by Alkhabeer Capital. The investment, finalized during the Money20/20 Middle East event, marks a significant milestone for the company and signals growing investor confidence in the Kingdom’s fintech sector.
Driving Fintech Solutions and Vision 2030
Founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi, and Ziad Aqbawi, Sindbad Tech has transitioned from a research-driven project to a key player in providing innovative investment and financial solutions. The newly acquired capital will be strategically deployed to expand Sindbad Tech’s product suite, enabling them to offer a wider range of financial services to both individual and enterprise clients. A significant portion of the funding will also be allocated to developing advanced technologies aimed at streamlining transaction processes and boosting efficiency. Importantly, Sindbad Tech’s growth aligns with Saudi Arabia’s Vision 2030, contributing to the nation’s goals of fostering innovation and accelerating digital transformation within the financial sector.
This funding round underscores the increasing appetite for autonomous finance solutions in the region and highlights Sindbad Tech’s potential to shape the future of fintech in Saudi Arabia, aligning with the Kingdom’s broader digital ambitions.
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