• Thabet Investment partners with Singapore’s Five Keys to launch Everbridge Capital, a USD 100M FinTech company headquartered in Riyadh.
• Everbridge Capital aims to provide innovative SME financing solutions, addressing Saudi Arabia’s estimated SR300 billion financing gap.
• Launch supports Saudi Vision 2030 Financial Sector Development Program, targeting SME financing growth from 9.4% to 20% by 2030.

Thabet Investment

Saudi’s Thabet Investment Company, an investment management company, partnered with Singapore’s Five Keys Investment to launch Everbridge Capital.  It will be a fintech firm in Riyadh focusing on innovative financial solutions, aiming to bridge the SME financing gap.

Everbridge Capital, launched with an investment of USD 100 million (SAR 375M) aims to provide innovative financing solutions for SMEs. It also aims to contribute to bridging the sector’s financing gap estimated to be over SR300 billion. 

Dr. Abdulelah bin Ahmed Saleh, PhD graduate from King Abdullah University of Science and Technology (KAUST), has been appointed CEO of Everbridge Capital.

“Our mission is clear: to be the bridge that enables SMEs to cross over to growth and prosperity, turning the SR300 billion financing gap challenge into an opportunity, and actively contributing to the Financial Sector Development Program’s goal of reaching 20 percent financing.” said Dr. Abdulelah bin Ahmed Saleh, CEO of Everbridge Capital.

FinTech

This launch aligns with the objectives of the Financial Sector Development Program, a key component of Saudi Vision 2030. This seeks to increase SME financing from its current level of 9.4 percent to 20 percent by 2030.

“The launch of Everbridge Capital demonstrates our commitment to our national role in achieving Vision 2030 by bridging the financing gap in the FinTech sector and providing a growth engine for this vital industry. Our partnership with Five Keys ensures we can deliver innovative solutions that meet global standards. Empowering SMEs and providing them with the necessary resources to succeed drives innovation and creates new opportunities for economic growth,” said Abdulrahman bin Ahmed Saleh, CEO of Thabet Investment.