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Nayla Finance, a Saudi fintech platform, has secured $4 million in seed funding to enhance digital lending for micro and small businesses. The investment, led by Sanabil Venture Studio, will be complemented by an additional $2.7 million in debt financing to expand its loan portfolio.Utilizing AI-driven credit assessments and alternative data sources, Nayla simplifies the loan application process for SMEs, enabling them to access up to SAR 100,000 quickly. This initiative aims to boost financial inclusion and support the growth of small businesses in Saudi Arabia.
UAE-based fintech startup Klaim has raised $26 million to enhance healthcare payment processes, including $10 million in Series A equity and $16 million in debt financing. Founded in 2019, Klaim's AI-driven platform aims to resolve delayed insurance claim payments, allowing providers to receive funds within 24 hours. With this funding, the company plans to expand in the MENA region, particularly in Saudi Arabia and Oman, while strengthening partnerships across the healthcare sector.
Aramco has completed a 50% stake acquisition in clean energy company BHIG, aiming to develop a hydrogen network in Saudi Arabia's Eastern Province. This initiative, alongside a carbon capture and storage hub in Jubail, is set to enhance efforts in reducing carbon emissions and diversifying the energy portfolio.
Nayla Finance has secured $4 million in seed funding, led by Sanabil Venture Studio, to enhance its operations in Saudi Arabia. The fintech startup focuses on providing accessible financing solutions for micro-businesses by leveraging technology and alternative data, aligning with Saudi Vision 2030's goals of financial inclusion and digital transformation. The funds will be used to strengthen its data-driven lending platform and expand partnerships in key sectors.
Gulf sovereign wealth assets are projected to reach $18 trillion by 2030, marking a 50% increase and reinforcing the region's financial dominance. With around 40% of global SWF assets, key players like Saudi Arabia’s PIF and Abu Dhabi’s ADIA are expanding investments, particularly in Asia and Africa, while facing rising competition and the need for enhanced performance standards.
Masdar has expanded its global clean energy initiatives with $12.5 billion in projects across nine countries, including $8.1 billion in equity investments. The company aims for 100GW of renewable energy capacity by 2030 and plans to grow its portfolio to 51GW by the end of 2024, with significant projects in Europe and North America. Recent achievements include financial closures on six projects, such as the 1.1GW Al Henakiyah Solar Power Plant in Saudi Arabia and solar projects in Azerbaijan.
Shares of Umm Al Qura for Development & Construction Co. surged 30% to 19.50 riyals (US$5.20) on their debut on the Riyadh exchange, following an IPO price of 15 riyals (US$4) per share, valuing the company at approximately US$5.75 billion. The US$523 million IPO attracted significant interest, with institutional orders reaching US$126 billion. Supported by Saudi Arabia’s sovereign wealth fund, Umm Al Qura is involved in a major development project in Mecca valued at around US$27 billion.
Agthia Group PJSC has announced a leadership transition, appointing Salmeen Al Ameri as Managing Director and CEO effective June 2, 2025, succeeding Alan Smith, who will remain as an advisor. Under Smith's leadership, Agthia expanded its business segments and more than doubled its revenue from AED 2.1 billion in 2020 to AED 4.9 billion in 2024. Al Ameri, who has been Vice Chairman since 2020, aims to accelerate growth and drive digital transformation as the company pursues its ambitious 2030 strategy.
Intelmatix has launched "Advisor," an AI-powered system designed to enhance institutional decision-making by analyzing complex business scenarios and providing data-driven recommendations. This innovative tool leverages Generative AI and specialized agents to optimize performance across various sectors, including retail and logistics. CEO Dr. Anas Alfaris emphasized that "Advisor" makes Decision Intelligence accessible, aiming to improve efficiency in decision-making by up to 50%.
Korean AI chipmaker FuriosaAI has turned down an $800 million acquisition offer from Meta Platforms Inc., choosing to remain independent and focus on growth. Founded eight years ago and led by June Paik, the company specializes in AI inference semiconductors and is currently engaging with clients like LG AI Research and Saudi Aramco. FuriosaAI plans to close an extended Series C funding round soon and is considering a future initial public offering.
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Nayla Finance secures 4 million dollars to enhance digital lending for SMEs
17:21 24.03.2025
UAE fintech startup klaim secures 26 million dollars to enhance healthcare payments
17:16 24.03.2025
Aramco invests in clean energy to develop hydrogen network in Saudi Arabia
15:04 24.03.2025
Nayla Finance raises 4 million dollars to enhance micro-business financing in Saudi Arabia
13:21 24.03.2025
gulf sovereign wealth assets projected to reach 18 trillion by 2030
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12:13 24.03.2025
Masdar invests 12.5 billion in global clean energy projects across nine countries
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umm al qura shares soar 30 percent on strong ipo debut
10:10 24.03.2025
Agthia Group announces leadership transition to drive future growth and innovation
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intelmatix launches advisor an ai system for data driven business decisions
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09:30 24.03.2025
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