SAUDI FINTECH COMPANY AMWAL TECH RAISES $2.5M IN PRE-SEED ROUND
A pre-seed round of $2.5 million was headed by Outliers Venture Capital, Shorooq Partners, and angel investors for the Saudi Arabian fintech startup Amwal Tech. Strong verification, identity orchestration, and safe frictionless payment solutions are offered by the provider of digital payment solutions.
The Saudi Central Bank has granted the Amwal biometric checkout a licence with the goal of reviving authentication and authorization in Middle Eastern payment marketplaces.
Regional fintech solutions are becoming more and more popular throughout the region, with financing opportunities and deals totaling $900 million across more than 130 investments, or 30% of all capital invested in the Middle East.
