Aion Digital, a Bahrain-based FinTech startup, raised $5 million in a bridge funding round led by Fintactics Ventures, a fintech-focused Venture Builder backed by a $40 million VC fund. The announcement took place at the LEAP 2023 conference.
The capital will be used to accelerate the technology transfer of digital banking infrastructure to Saudi Arabia.
Aion was founded in 2017 as a digital banking platform in GCC. It offers 500 banking APIs that make it simple and quick to launch digital solutions. Aion platform is used by leading banks and fintech to accelerate their time-to-revenue while minimizing the cost to launch.
Leading financial institutions such as Kuwait Finance House, Boubyan Bank, Jazeel Bahrain, and SIMAH leverage Aion APIs to offer digital solutions to their clients. Aion is also building strategic new ventures in the open banking and regulatory tech space in the GCC. The company recently announced opening its headquarters in Riyadh, Saudi Arabia.
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