Saudi Arabian financial solutions startup Wadaie has announced the closing of its Seed investment round. The funding was led by the prominent regional venture capital firm VentureSouq, with significant participation from Graphene Ventures, Rozam Investment, Arab National Bank, and Alinma Bank.
Strategic Investment From Regional VCs and Banks
The investment round is distinguished by its blend of top-tier venture capital firms and major Saudi banking institutions. The participation of Arab National Bank and Alinma Bank serves as a strong validation of Wadaie’s model and its potential to innovate within the Kingdom’s financial ecosystem, signaling deep industry confidence in its platform.
Modernizing Savings and Treasury Management
Founded in 2022, Wadaie offers a unified platform that provides individuals with easy and compliant access to returns on Sharia-compliant deposits. Simultaneously, it equips corporate clients with secure and effective tools to optimize their treasury and liquidity management. Through its partnerships, Wadaie also enables banks to access new customer segments and diversify their liquidity sources.
Fueling Growth and Product Expansion
The new capital will be strategically deployed to enhance the company’s operational and technological capabilities. Key focus areas include strengthening regulatory compliance and cybersecurity measures, expanding its tech infrastructure, broadening its range of product offerings, and refining the overall customer experience.
About Wadaie
Wadaie is a Saudi-based fintech company that provides a platform for both individuals and businesses to manage their savings and liquidity. By connecting depositors with a network of Saudi banks, it aims to deliver a seamless, Sharia-compliant, and efficient financial experience that maximizes returns and simplifies treasury management.
Source: Jawlah
