Abwab AI, a Saudi-based fintech startup, has announced its ambitious goal to achieve unicorn status and join the billion-dollar club within the next two years. In a statement to Al-Eqtisadiah newspaper, CEO Baraa Koshak outlined the company’s vision to revolutionize SME lending and address a significant financing gap in the Kingdom.
Founded three years ago and currently valued at over SAR 100 million, Abwab AI is positioning itself as a key player in the nation’s economic strategy by using artificial intelligence to empower local financial technologies.
The Billion-Dollar Ambition
Abwab AI’s drive for rapid growth is supported by its participation in the “Billion-Dollar Companies” program, an initiative by Saudi Arabia’s Ministry of Communications and Information Technology. Launched during the LEAP23 global tech conference, the program aims to accelerate the growth of local tech companies and transform them into unicorns.
The program, which announced its first cohort of 35 high-growth tech companies in August 2023, provides the framework and support necessary for startups like Abwab AI to scale and reach a market valuation of $1 billion or more.
AI-Powered Credit Analysis
The core of Abwab AI’s mission is to tackle the estimated $170 billion funding gap for small and medium-sized enterprises (SMEs) in the Saudi market. The company identifies a fundamental problem in the current lending landscape: an over-reliance on traditional, lagging credit data that fails to capture the true operational health of SMEs.
To solve this, Abwab AI has developed proprietary AI models that extract modern, alternative credit features. These models provide a more accurate and predictive credit analysis, enabling government and financial institutions to assess the real viability of SMEs and direct funding with greater efficiency, aligning with Saudi Vision 2030’s goal of making the SME sector a cornerstone of the national economy.
Strategic Growth and Partnerships
Koshak highlighted that strategic partnerships with financing entities and government funds have been fundamental to the company’s journey, which has already helped process over SAR 1 billion in financing facilities.
Looking ahead, Abwab AI is set to announce a series of strategic partnerships with more than four government funds and financing bodies. These announcements are expected to be rolled out sequentially over the coming months and into 2026, further solidifying the company’s role in the Kingdom’s financial ecosystem.
About Abwab AI
Abwab AI is a Saudi fintech company specializing in artificial intelligence solutions for SME lending. The company develops advanced AI models to provide predictive credit analysis, helping financial institutions and government funds bridge the SME funding gap by making more informed and efficient lending decisions.
Source: Rowad Al A’amal
