Rakan Aljunaidi, MSF

SAMA is paving the way for a more dynamic and inclusive financial landscape in Saudi Arabia. Well done, Saudi Central Bank – SAMA. The progress in the Saudi FinTech sector is remarkable, and these developments are crucial for the growth and diversification of our economy. It’s inspiring to see how regulatory frameworks can adapt to support technological advancements and drive economic development.

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Discover why Saudi Arabia is becoming a top choice for global investors! 🇸🇦 Our latest article dives into the Kingdom's strategic initiatives, the surge in investments from China, vibrant startup ecosystem, and investor-friendly policies. Don't miss out on the boundless opportunities for growth and prosperity! Read the full article on Saudi news https://lnkd.in/dtqSJFwj #SaudiArabia #InvestmentDestination #Vision2030 #StartupEcosystem #GlobalInvestors #StayInformed #mobileappdevelopmentagency #siegpartnerssaudiarabia #siegpartners 

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Riyadh-based investment platform Abyan Capital has raised $18 million in a Series A round led by STV. The round also included participation from Saudi’s Wa’ed Ventures and RZM Investment. Founded in 2021 by Abdullah Aljeraiwi, Omar Almania, and Saleh Alaqeel, Abyan Capital launched its Shariah-compliant robo-advisory platform in 2022 to make it easy for an average user in Saudi to save and invest. Abyan allows users to open their account on its platform (available on iOS and Android) in just three minutes and deposit money to start investing. The users get a portfolio recommendation based on their risk and other preferences during their onboarding. The platform enables users to invest in a mix of sukuks, real-estate, and local and international stocks. The low-risk portfolio relies heavily on sukuks and high-risk on stocks. https://lnkd.in/d4uWpj5b Abdullah Aljeraiwi, Omar Almania, PhD, CFA, Saleh Alaqeel

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𝗦𝗮𝘂𝗱𝗶 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: Rasan's IPO marks a significant milestone as Saudi Arabia's first fintech IPO, securing a massive $28.8 billion in orders for its $224 million IPO (129x oversubscription). The IPO valued at a P/E multiple of 56.8x—surpassing industry leaders such as Elm's 48.9x—signals a robust appetite for tech investments within the Kingdom. As Saudi Arabia continues to diversify its economy, Rasan's successful debut paves the way for further tech innovations and offerings in the region.

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Riyadh-headquartered fintech SiFi has raised $10 million in a seed round led by Public Investment Fund’s Sanabil Investments, and Raed Ventures, it announced in a statement today. The round was also joined by ANB seed (a seed fund by ANB Capital, the investment arm of Arab National Bank), Saudi’s Rua Ventures, Dubai-based Byld Ventures, and Khalid bin Alwaleed’s KBW Ventures. It also includes participation from existing investors; Saudi-based Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com. Founded in 2021 by Ahmed Alhakbani who was previously Governor of Saudi Customs, and Saudi’s Deputy Minister for Foreign Trade, SiFi (or Simplified Financial Solutions Company) is a spend management platform that enables businesses to automate their expense processes, with its corporate cards for employees. Read more: https://lnkd.in/dPhcp9eB Ahmed AlHakbani, Omar A. Almajdouie

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It was truly a pleasure meeting with Djamal Garoud Founder of Garoud Capital Partners recently! We had a great discussion about the exciting opportunities in the Saudi market and how we can work together to support startups. As a Eradah Studio that builds startups, building strong relationships with investment funds is crucial for us. The Saudi market is ripe with potential, and it's inspiring to see the growth and innovation happening here. With the Vision 2030 initiative driving economic diversification and the rise of tech startups, there's no shortage of opportunities for collaboration and growth. At our meeting, we discussed the importance of strategic partnerships and how we can leverage each other's strengths to create value for both entrepreneurs and investors. It's always exciting to see the synergies that can be achieved when like-minded organizations come together with a shared vision. I look forward to continuing our conversation and exploring ways to collaborate in the future. Together, we can unlock the full potential of the Saudi market and support the next generation of innovative companies. #SaudiMarketOpportunities #StrategicPartnerships #StartupEcosystem #Vision2030 #InvestmentFunds #CollaborationEmoji: 🚀 #SaudiEconomy #TechStartups #Entrepreneurship #InnovationSaudi #VentureCapital

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eWTP Arabia Capital's Tech Fund Achieves Top VC Ranking eWTP Arabia Capital's Technology Fund I, managed by the esteemed #eWTPArabiaCapital, has secured a prominent position among the world's top VC funds. With a focus on the MENA region and a strong presence in #SaudiArabia, the fund's recognition by Preqin underscores its commitment to fostering technological advancement and supporting innovative entrepreneurs. For more information, visit Saudi Business News. Link in bio. #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #eWTPArabiaCapital #VC #VentureCapital #Technology #MENA #Preqin #Investment #Innovation #Entrepreneurship

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#FinTech gives up the #funding crown! Explore the full #MENA report for all the details: https://lnkd.in/dBEa7S29 After reigning as the top-funded industry in MENA for three years, FinTech has finally been dethroned by E-Commerce/Retail in H1 2024. However, this was largely due to major E-Commerce deals including Salla E-Commerce Platform's $130M mega deal and Rewaa’s $75M round — together accounting for a whopping 84% of the sector’s total funding. Without these mega deals, FinTech would still be king with $179M, compared to E-Commerce/Retail’s $114M. #venturecapital #ecommerce #vcfunding #startups #industrytrends #H1data #H1report

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🚀 Strategic Investment Opportunities in Saudi Arabia The Ministry of Investment of Saudi Arabia (MISA) continues to drive economic growth through innovative and strategic initiatives. Recent data from the Q1 2024 Economic and Investment Monitor highlights MISA's impressive progress: 📈 FDI Growth: Foreign Direct Investment inflows into Saudi Arabia increased by 32.2% YoY in Q4 2023, with the total FDI stock reaching SAR 808 billion, marking a 6.1% YoY growth for 2023. 🏆 Investment Licenses: MISA issued 3,157 investment licenses in Q1 2024, a 93% increase from the previous year. This includes a 477% rise in licenses for regional headquarters, showcasing the Kingdom's appeal as a business hub. 🌍 Global Engagement: MISA has been actively promoting Saudi Arabia on the global stage, organizing key events such as the Future Minerals Forum and participating in the Gujarat Global Summit. These efforts are crucial in positioning Saudi Arabia as a prime destination for global investment. 🎖️ Enhanced Investor Experience: MISA's commitment to improving the investment climate is evident from their customer service achievements, including processing 445 business visit visas and delivering over 58,000 e-platform services in Q1 2024. As Saudi Arabia continues to evolve as a strategic investment hub, there are significant opportunities for established companies looking to expand into the Middle East. If your business is generating revenue and is ready to explore growth opportunities in this dynamic market, please feel free to DM me. Disclaimer: This invitation is for companies with existing revenue streams, not startups. #Investment #SaudiArabia #FDI #MISA #ZabCapital

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Discover Prime Investment Opportunities in Saudi Arabia 🇸🇦✨ The Public Investment Fund (PIF) of Saudi Arabia presents an unprecedented opportunity to invest in the Kingdom's thriving industrial sector. As a leading sovereign wealth fund, PIF is building a world-class domestic and international portfolio to drive the economic transformation envisioned in the Kingdoms Vision 2030. Public Investment Fund's Achievements: ✅Manages approximately 3.47 trillion riyals in assets. ✅Created 644,000 direct and indirect job opportunities. ✅Established 94 companies within its portfolio. ✅Focuses on 13 strategic sectors.   Introducing the Accelerated Manufacturing Program (AMP) – a strategic initiative designed to propel emerging manufacturing companies towards success in Saudi Arabia. Under this program, prime industrial land spanning 15,000 square meters is now available for investment within an approved municipal plan. These lands are strategically aimed at boosting GDP from non-oil exports, generating job opportunities, and supporting local manufacturing content. By joining AMP, you gain access to a thriving ecosystem that empowers your manufacturing venture through: 🔹 Direct contribution to the local content objectives of PIF and its portfolio companies. 🔹Comprehensive training in business, product development, and production management. 🔹Personalised mentorship and coaching sessions tailored to your needs. Don't miss this unprecedented opportunity to tap into #SaudiArabia's thriving industrial potential while benefiting from PIF's well-structured accelerator program! Visit https://lnkd.in/d8KvvfZR for more information, or reach out to our Managing Director, Zehra F., to explore this exciting investment prospect further. Ministry of Municipal and Rural Affairs and Housing Ministry of Industry and Mineral Resources Local Content And Government Procurement Authority

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Golden Opportunity for Startups 📢 Saudi Arabia invites innovative startups worldwide to participate in the Carbon Capture and Utilization Challenge. Winners will benefit from dedicated support, exclusive networks, and the chance to share in a $300,000 prize! 💼 The challenge is funded by the Ministry of Economy and Planning - MEPsaudi in collaboration with the Ministry of Energy, along with 6 ecosystem partners. Discover them below! 🔍 We encourage startups to submit innovative solutions that reduce carbon emissions and enhance innovation in the circular carbon economy by valuing carbon as a resource with real economic value. 🌍 Participate now: https://lnkd.in/d3DDgtPY 📣 The Ministry of Economy and Planning and the Ministry of Energy, in collaboration with wefuplink , announce a new challenge to promote urgent action to combat climate change during #HLPF24. The challenge seeks the most innovative startups focused on reducing carbon emissions through industrial carbon capture. 🌟 Don’t miss the opportunity! Join and be part of the change! 🌟 #innovation #saudiarabia #sustainability #startups #cleanenergy #greentech

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Register now for #FintechSummerSession24 with Fintech Saudi | فنتك السعودية - Ziad Mabsout, CFA will be discussing Wealth Management solutions we are developing at Vennre 🚀🚀🚀

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Are #secondaries the solution to #MENA's Exits? In a recent conversation with Basil M. from Key Capital, we discussed the emerging potential for IPOs, secondaries and exits in the market. Secondary funds, which target shares in early stage investment rounds at a discount, can stimulate market participation by providing liquidity to existing shareholders without diluting company equity. These investments enable early investors to exit, allowing founders to clean up their cap table and receive a potential fresh injection of capital. Of course, the secondaries market in the #MENA region is still emerging, but given the global increase in secondary investments, perhaps it’s not too long before it becomes more commonplace in the region. Check out my full conversation with Basil M. for more MAGNiTT insights: https://lnkd.in/gT5X5Q7D PS: Great recent pod from the Unreasonable Podcast discussing just this and the impact in the South East Asian Venture space. Well worth a lisen! CC: Hian Goh, Vishal Harnal and Michael Blakey #webinar #exits #IPOs #venturecapital #startups

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Investor Relations (#IR) and Corporate Governance go hand in hand. At Middle East Investor Relations Association we are dedicated to promoting IR best practices and setting benchmarks for governance and transparency across the Middle East. I'm thrilled about our Chairman, Andrew Tarbuck’s initiative to undertake a comprehensive assessment of #MEIRA's Corporate Governance frameworks and Board of Directors’ operations, encompassing both the central MEIRA Board and the Saudi Chapter Board. It is great to witness the overall Board’s support of his efforts. Together, we aim to align our stakeholders' interests with the association's long-term goals. #Governance #InvestorRelations #CorporateLeadership #SustainableGrowth

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Q1 and Q2 of 2024 have been notably monumental for the Omani tech ecosystem. - Beginning in December 2023, the Authority for SME Development hosted the Investment and Startup Summit via the Rising Omani Startups Program. - In January 2024, Oman Investment Authority announced the inauguration of Future Fund Oman. - In the same month, the Ministry of Finance - Oman announced the 2024 state budget, which more than doubled the budget for digital transformation. - In February 2024, the Ministry of Transport, Communications and Information Technology - Oman announced a 15M OMR budget for artificial intelligence projects. - In March 2024, Oman launched Oman Investment Bank, the first state-owned investment bank - In April 2024, Oman Investment Authority and ADQ announced the inauguration of the $180M Jasoor Fund. - In May 2024, Muscat Stock Exchange S.A.O.C announced the creation of a secondary market for SMEs and Startups. These developments point to a rapidly changing ecosystem that is becoming more prominent and embedded in the Omani economy.

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