UAE-based fintech InvestSky has officially launched its services in Saudi Arabia after successfully raising a $4 million seed round. This strategic expansion is enabled by the company receiving a Financial Technology Experimental Permit from the Kingdom’s Capital Market Authority (CMA), marking a significant step in its regional growth plans.
Strategic KSA Entry with anb Capital
InvestSky’s entry into the Saudi market is anchored by a first-of-its-kind strategic partnership with anb Capital, one of the Kingdom’s leading investment firms. This collaboration merges InvestSky’s social-first trading platform with anb Capital’s institutional-grade regulatory infrastructure, providing Saudi investors with seamless and compliant access to both U.S. and local equities.
“This partnership reflects our commitment to enabling responsible fintech innovation within a fully regulated framework,” said Khalid Alghamdi, CEO of anb Capital. “By combining InvestSky’s technology with anb Capital’s regulatory infrastructure and market experience, we are supporting broader investor participation while maintaining the standards expected of the Saudi capital market.”
Investor Backing and Regional Ambitions
The $4 million seed round brings InvestSky’s total funding to $7.4 million. The round was backed by a strong consortium of regional investors, including Emkan Capital, Run Ventures, S3 Ventures (by Joa Capital), and the Al-Romaizan Family Office.
According to the company, the new capital will be instrumental in broadening market access for retail investors, scaling its operations within Saudi Arabia, and further enhancing its platform to simplify the investing experience across the wider MENA region.
Democratising Investing for Retail Users
Founded in 2021 by Nitish Mittal and Turki Alalshaikh, InvestSky aims to address the challenges faced by retail investors in the region, such as limited market access and high barriers to entry.
“Retail investors in Saudi Arabia have had limited access to global markets, high barriers to entry, and few platforms built for their needs,” said Nitish Mittal, Founder and CEO of InvestSky. “Our CMA licence and partnership with anb Capital change that equation. We’re giving Saudi investors seamless access to both global and local markets through an intuitive and accessible platform.”
Turki Alalshaikh, Co-Founder and Managing Director of InvestSky, added, “This is an exciting milestone for InvestSky as we receive the CMA Fintech Experimental Permit. The journey hasn’t been easy, which makes this achievement even more meaningful. We’re especially proud to partner with a leading institution like anb Capital. This is the first model of its kind in Saudi Arabia, and we hope it serves as a blueprint for future collaborations.”
About InvestSky
Founded in 2021, InvestSky is a UAE-based social trading platform designed to make investing simple, accessible, and community-driven. The platform provides retail investors across the MENA region with seamless access to Saudi and US stock markets, enhanced with real-time community insights and user-friendly tools.
Source: Wamda
