• Sindbad Tech, a Saudi fintech, raised USD 4.8M in a seed round led by Alkhabeer Capital at Money20/20 Middle East.
• Founded in 2013, the company develops AI-driven automated trading solutions designed to simplify market tracking and enhance investment efficiency.
• With fresh capital, Sindbad Tech plans to expand its product suite, offering broader financial services aligned with Saudi Vision 2030.

Sindbad Tech 

Saudi-based Sindbad Tech raised USD 4.8 million in a seed funding round led by Alkhabeer Capital. The investment was announced during the Money20/20 Middle East conference in Riyadh. 

Founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi, and Ziad Aqbawi, Sindbad Tech is a fintech company focusing on developing innovative investment solutions. Its bot technology helps users trade and track the market quickly and with minimal effort. Furthermore, it  provides AI and automation for the global capital market. With this trading solution it aims to protect the capital investments, grow and sustain the assets of its global individual investors.

Automated Trading

In 2013, it began as a research project aiming to analyze market behavior and trades. Later, in 2015, they developed a mathematical model using traditional indicators. In 2018, they came step closer to fully automated trading with their first algorithmic trading with AI and big data. Finally, in 2020, they developed their first bot aiming to perform algorithmic trading in full automation.

Up next, with the newly acquired capital it aims to expand its product suite. This is to enable its products to offer a wider range of financial services to individual and enterprise clients. Additionally, it seeks to develop advanced technologies aiming to streamline transaction processes and boost efficiency. This is in alignment with Saudi Arabia’s Vision 2030 of fostering innovation and accelerating digital transformation within the financial sector.

Bottom Line: Sindbad Tech’s seed funding highlights continued investor interest in Saudi fintech as automation and AI gain traction in financial services.