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Khazna Secures USD 16M for Digital Banking License and Saudi Expansion 

Khazna Secures USD 16M for Digital Banking License and Saudi Expansion 
Image Source: Khazna
  • Khazna, a regional platform for digital financial services, secures USD 16 million in a pre-series B funding round.
  • With the funding, the company aims to apply for a Digital Banking license and expand to Saudi Arabia.
  • In its expansion, Khazna aims to forge partnerships to create a tailored approach that meets the needs of its target users. 

Khazna

Khazna, a regional platform for digital financial services, secures USD 16 million in a pre-series B funding round. 

The funding round was led by SANAD Fund for MSME and anb Seed Fund, managed by anb Capital. In addition to Aljazira Capital, the investment arm of Bank Aljazira of Saudi Arabia and Khwarizmi Ventures. Alongside, Nclude, the fintech fund, ICU Ventures, Quona, Speedinvest and Disruptech Ventures.

This round of funding showcases these investors’ confidence in Khazna’s team, business model and potential to transform the digital baking industry in the region. 

Expanding to Saudi 

With this funding, the company aims to accelerate its growth by applying for a Digital Banking license in Egypt. In addition, the company aims to expand to Saudi Arabia to capitalize on the Kingdom’s growing digital economy under Vision 2030. In its expansion, Khazna aims to forge partnerships to create a tailored approach that adapts to its target users. 

“Closing this funding round is a pivotal achievement for Khazna’s team. This not only propels our core business but also empowers us to accelerate our mission of advancing financial inclusion across the MENA region. Khazna’s entry into Saudi Arabia marks the beginning of a new chapter, and we are committed to delivering an unparalleled digital user experience across the region.”

Omar Saleh, CEO of Khazna

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