Saudi Fintech Hakbah Closes $2 Million Pre-Series A Funding Round

• Saudi Arabia-based fintech Hakbah has closed a $2 million pre-Series A funding round, financed by Global Ventures and Aditum Investment Management.
• Founded in 2018 by Dimitar Kazakov and Naif AbuSaida, Hakbah is a social savings platform that allows users to save and access funds through the rotating savings and credit association (ROSCA) method.
• Proceeds will be used to accelerate Hakbah’s presence in Saudi Arabia, improve the user journey, and enhance its savings engine algorithm.
• Company is permitted by SAMA to test its innovative savings services in the Regulatory Sandbox

RIYADH, Saudi Arabia — Hakbah, the Saudi-based fintech savings platform, announces its successful closing of