Automated Economy Company, the parent company of B2B platform Sindbad.Tech, has successfully closed an SAR 18 million (approximately $4.8 million) Seed funding round. The investment was led by Alkhabeer Capital, a prominent asset management and investment firm in Saudi Arabia.
Fueling B2B Procurement Automation
The new capital is expected to accelerate Sindbad.Tech’s mission to automate and streamline procurement and supply chain management for businesses across the Kingdom. The platform provides a comprehensive solution for companies to manage their purchasing, logistics, and supplier relationships more efficiently. This investment will likely be utilized to enhance the platform’s technological capabilities, expand its team, and scale its client base within the rapidly digitizing Saudi market.
Alkhabeer Capital’s Bet on Digital Transformation
The investment from Alkhabeer Capital signifies strong investor confidence in the B2B fintech and logistics technology sector in Saudi Arabia. As the Kingdom undergoes a significant economic transformation under Vision 2030, solutions that enhance operational efficiency for businesses are in high demand. This strategic backing provides Sindbad.Tech with not only financial resources but also the support of an established financial institution, positioning it for significant growth in the region.
About Sindbad.Tech
Sindbad.Tech, owned by the Automated Economy Company, is a B2B technology platform that specializes in automating the procurement and supply chain lifecycle for businesses. The company aims to simplify complex purchasing processes, providing tools for enhanced efficiency, transparency, and cost savings.
About Alkhabeer Capital
Alkhabeer Capital is a leading asset management and investment firm based in Saudi Arabia, authorized by the Capital Market Authority. The firm provides innovative, world-class investment products and solutions to institutions, family groups, and individual investors.
Source: Fintech Saudi
