- Successful Series A Round: Tameed, a Sharia-compliant crowdfunding platform, concluded a Series A investment round, securing SAR 56.75 million (USD 15 million). The Al-Rumaih Group led the round, reflecting the confidence of investors in the platform.
- Accelerating Business Growth: Tameed plans to utilize the raised funds to expedite its business growth, catering to the rising demand for its innovative financial products. This surge is attributed to the increasing developmental activities in the Kingdom, projected to reach SAR 300 billion, especially after the successful bid to host Expo 2030.
- Expansion and New Financial Products: The platform aims to invest the funds in meeting the demand for project financing, purchase orders, and serving small and medium-sized enterprises (SMEs) on a broader scale.
Crowdfunding platform Tameed has successfully closed a Series A investment round, raising a total of USD 15 million. The round was led by the Al-Rumaih Group, marking a culmination of the platform’s investors’ confidence.
Tameed, specializing in Sharia-compliant collective financing for companies with projects and purchase orders, intends to utilize the funds to accelerate its business growth to meet the increasing demand for innovative financial products.
This surge results from the growing developmental activities in the Kingdom, expected to reach SAR 300 billion in the upcoming period, particularly after the Kingdom’s successful bid to host Expo 2030.
The platform also plans to invest the raised funds in meeting the demand for project financing, purchase orders, and servicing small and medium-sized enterprises (SMEs) on a broader scale. This expansion aims to enhance the efficiency of their operations, enabling them to actively contribute to the success of large-scale projects in the Kingdom.
Commenting on the successful investment round, Mohammed Al-Omair, CEO and Co-Founder of Tameed, stated that the coming period holds promise for the Kingdom’s economy, and Tameed is keen on keeping pace with this growth by introducing new innovative products.
Al-Omair highlighted that within the platform’s developmental plans, a new financing product for project guarantees has recently been added to serve a broader range of beneficiaries. This addition aims to empower small and medium-sized enterprises to contribute effectively to these major projects.
The CEO of Tameed affirmed the readiness of the company to contribute to enhancing the significant economic development in the Kingdom by offering diverse financial products for small and medium-sized enterprises, with the goal of enabling them to expand their financial activities across all economic sectors in the Saudi market.
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