– Rakeez Financial, a Saudi Arabian fintech firm, secured $2 million Seed Round investment led by CoreVision.
– The Fintech Saudi initiative, spearheaded by SAMA and CMA, aims to propel the fintech sector forward in Saudi Arabia.
– Rakeez specializes in issuing debt instruments and sukuk, contributing to the localization of financial services within the Saudi market.
Rakeez Financial, a Saudi Arabian fintech firm, has successfully secured a $2 million Seed Round investment led by CoreVision, aimed at bolstering the expansion of financial technology services within the Kingdom of Saudi Arabia.
The Fintech Saudi initiative, launched by Saudi Arabia in April 2018 and championed by the Saudi Arabian Monetary Authority (SAMA) and the Capital Market Authority (CMA), seeks to propel the fintech sector forward, thereby contributing to the nation’s economic and social progress.
This initiative strives to position Saudi Arabia as a pivotal innovation center for financial technology, fostering talent, enhancing capabilities, and providing support to fintech entrepreneurs at every phase of their growth journey.
Rakeez specializes in providing a platform for issuing debt instruments and sukuk (Islamic bonds), prioritizing robust values and elements.
The company focuses on localizing debt instruments within the Saudi financial market, thereby streamlining investment opportunities through sukuk issuance and offerings.
CoreVision, a company specializing in Software as a Service (SaaS), technical education, e-commerce, enterprise solutions, and financial technology investment, extends financial backing, technical assistance, and guidance to investors and firms across diverse sectors.
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