• Saudi fintech Bwatech raised USD 16M to scale digital bank guarantees, account management, and open banking services across the Kingdom.
• Founded in 2020, Bwatech operates under SAMA’s sandbox, providing API integrations for seamless connectivity with corporate financial systems.
• The funding will accelerate product growth, strengthen financial efficiency for corporates, and support Saudi Arabia’s digital transformation strategy.

Bwatech

Saudi fintech Bwatech has raised USD 16 million (SAR 60 million) in a funding round led by Sharaka Financial. 

“This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion,” said  Hashim Al Hekail, Founder and Chairman of Bwatech

Digital Banking

Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech offers an integrated fintech platform. Its services include digital bank guarantees, account management, and open banking tools. Furthermore, the platform is accessible through web or mobile, while API integrations connect directly to corporate internal systems.

The company operates under the Saudi Central Bank (SAMA) regulatory sandbox, a program that allows fintechs to test and scale within a supervised environment. This positions Bwatech to contribute to the Kingdom’s wider financial digitization agenda.

With the new funding, Bwatech plans to expand its product suite and improve financial efficiency for corporates across the Kingdom. It will also continue building on its vision of creating a digital-first infrastructure that streamlines financial operations for Saudi businesses. Furthermore, it aims to accelerate its growth and deepen its role in Saudi Arabia’s financial technology market. Additionally, it aims to scale operations and reinforce its mission to support corporate clients navigating digital transformation.

Saudi Arabia’s fintech sector is growing in line with Vision 2030’s push for innovation and financial inclusion. This new funding highlights continued investor interest in the Kingdom’s digital finance space.