– Khazna partners with Khwarizmi Ventures to establish its presence in Saudi Arabia, aiming to revolutionize financial services with digital solutions.
– Dr. Ibrahim Almojel was appointed as the inaugural non-executive chairman of the board, expressing confidence in Khazna’s potential to become a regional powerhouse.
– Mohammad Alyousef was named Co-Founder and CEO of Khazna’s Saudi operations, highlighting the company’s commitment to enhancing financial inclusion in alignment with Vision 2030.
Khazna, a financial technology provider in the region, has announced its entry into the Saudi Arabian market through a strategic partnership with Khwarizmi Ventures (KV), a prominent Saudi-based venture capital fund specializing in early-stage startups across the MENAP region.
This expansion, facilitated by the acquisition of necessary licensing, underscores Khazna’s commitment to replacing informal cash-driven methods with innovative digital solutions.
With a track record of success in Egypt, boasting over 300 commercial partners and half a million end-users, Khazna has secured significant equity funding and credit facilities to support its growth.
Ibrahim Almojel, an early-stage investor in Khazna, expressed confidence in the company’s potential to thrive in Saudi Arabia under his leadership as the board’s non-executive chairman.
Mohammad Alyousef has been appointed as Co-Founder and CEO of Khazna’s operations in the Kingdom, emphasizing the company’s dedication to enhancing financial inclusion in alignment with Saudi Arabia’s Vision 2030.
Omar Saleh, Co-Founder & CEO of Khazna Holding, highlighted Saudi Arabia’s importance as a key market for their expansion plans, especially with integrating fintech into Vision 2030’s Financial Sector Development Program.
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