Saudi Arabia-based corporate fintech company Bwatech has successfully raised $16 million (SAR 60 million) in a funding round led by Sharaka Financial. The new capital will be used to accelerate the company’s growth and expand its market presence within the Kingdom.
An Integrated Corporate Finance Platform
Bwatech offers a comprehensive platform designed to streamline financial operations for businesses. The integrated solution enables companies to manage their finances across multiple banks through a single interface. Key services include the issuance of digital bank guarantees, multi-bank account management, and open banking functionalities. Bwatech’s platform is accessible through a web portal and a dedicated mobile app, and it also provides API integrations for seamless connectivity with corporate internal systems.
Accelerating Growth Within The Kingdom
The $16 million investment is a significant milestone for Bwatech, providing the necessary resources to fuel its expansion strategy. The company aims to strengthen its position as a leading fintech provider in the Saudi market, focusing on delivering solutions that enhance both corporate and banking efficiency. The funding will be instrumental in scaling its operations and reaching a broader base of corporate clients.
Innovating Within Regulatory Frameworks
Operating under the regulatory sandbox of the Saudi Central Bank (SAMA), Bwatech is at the forefront of building a more efficient digital financial infrastructure for the corporate sector. This regulatory backing allows the company to develop and test innovative solutions in a controlled environment.
“This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion,” said Hashim Al Hekail, Founder and Chairman of Bwatech.
About Bwatech
Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech is a Saudi fintech company specializing in corporate financial solutions. The company provides an integrated platform that empowers businesses to efficiently manage their financial operations, including digital bank guarantees and open banking services, thereby supporting the digital transformation of the financial sector in Saudi Arabia.
Source: Wamda
