Seed

Others

Series A

Pre-Series A

Debt Financing

Pre-Seed

Series B

Unknown Series Round

Riyadh

Yasser Al Kadi

Abdulaziz Al-Turki

Ameer Sherif

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Investment in Startup

Khwarizmi Ventures: Explore funding focus, portfolio highlights, and key industries. Exclusive insights at Lucidity Insights.

Khwarizmi Ventures

E-Commerce

Finance

Transportation

Technology

Software Dev/Test

Foodtech

Energy

Fintech

Khwarizmi Ventures, a Saudi-based Venture Capital firm, has provided seed funding to prominent startups, supported founders, and expanded numerous regional companies with established traction in the MENA region.

Tamara

Payments

Retail

Financial Services

Shopping

Digital Payments

Tamara is the leading fintech platform to shop, pay and bank in Saudi Arabia and the wider GCC region, and Saudi’s first fintech unicorn.

TruKKer

Logistics

Freight Service

Supply Chain Management

TruKKer is a Digital Freight Network that integrates Demand & Supply for multimodal freight services

erad

Information Technology

erad is on a mission to empower SMEs in the Middle East with financial solutions.

Hala

Hala is a prominent fintech company that seeks to transform financial services and develop the future bank for small and medium-sized enterprises (SMEs).

Dubai

Series C

Eyewa

Eyewear

Marketplace

Eyewa offers prescription contact lenses, color contact lenses, sunglasses, and eyeglasses.

Lean Technologies

Predictive Analytics

Lean is a B2B fintech platform that builds developer-friendly APIs. Developers can build and launch cutting-edge financial products to connect to their users’ bank accounts to initiate real time payments and retrieve their account information.

Calo

Healthcare

Food and Beverage

Wellness

Calo is Founded in 2019 by Ahmed AlRawi and Moayed Almoayed, Calo serves personalized meal subscriptions.

Abu Dhabi

Lyve Global

SaaS

IT & Communication

Delivery

Lyve is a B2B SaaS platform empowering businesses to digitize their customers’ journey from order to payment to delivery.

Cairo

Khazna

Apps

A Financial Super App that offers easy to use, technology-driven  to Egypt’s underserved consumers and micro-businesses.

Brimore

Social Commerce

Supply Chain

Consumer Goods

Brimore is a social commerce platform, that enables the local manufacturers to overcome the Go-to-Market challenges and grow on a national scale.

Rewaa

Software

Telecommunications

Electronics

Rewaa gives merchants a simpler way to run their business—by bringing all operations into one connected system.

Karachi

Dastgyr Technologies

Dastgyr is a B2B e-commerce marketplace that uses technology to connect informal retailers with manufacturers and wholesalers.

Soum

Soum is a Saudi Arabian startup specializing in re-commerce, operating as a marketplace for buying and selling used electronics.

Aajil

Credit

Lending

Business Development

Aajil is MENA's first "Build Now Pay Later" solution. We empower SME's to grow their businesses by securing the materials they need — without the upfront hassle

Bouskoura

Chari

Retail Technology

A one stop shop for traditional proximity stores allowing them to order any consumer goods they sell and get delivered for free while benefiting from financial services

Giza

Pylon

Utility Management

Energy Management

Pylon is a comprehensive utility management platform powering millions of smart meters in some of the world’s largest emerging markets.

Mala'a Technologies

Mobile Apps

Mala'a Technologies is a leading fintech company that offers a range of data-driven financial products and services for individuals and institutions with its financial app.

Islamabad

TAG is a financial app that offers digital wallets and payment services.

Amman

POSRocket

Intelligent Systems

Point-of-Sales System

Traditional cash registers are a thing of the past. POSRocket modernizes this near-obsolete system by providing business owners with an intuitive, user-friendly, cloud-based point-of-sale (POS) platform.

Sifi

SiFi aims to assist companies get in control of their expenses.

Alma Health

Healthtech

Alma Health is a digital health platform that simplifies the lives of people with chronic conditions and those who care for them by harnessing the power of technology.

Simplified Financial Solutions Company (SiFi)

SiFi is a corporate expense management platform that gives finance and accounting teams complete control and visibility over company spending.

RemotePass

RemotePass is an all-in-one platform for companies to onboard, manage, pay, and retain remote workers in 150 countries

Bosta

Courier Service

Bosta is an e-commerce company that focuses on delivery services for businesses and customers.

California

Sibly

Social Network

Text-based service that connects employees with helpful human coaches whenever, wherever.

Xare

Online Shopping

Banking Technology

Xare is a fintech platform founded in January 2021 with a mission to make finance accessible to everyone by enabling income earners to safely and instantly share financial access with those who don’t earn.

Qawafel

Retail & Wholesale

Qawafel is a B2B marketplace that simplifies the trade between shops and producers of perishable food products across the Kingdom of Saudi Arabia

Fatura

Fatura is a fintech enabled B2B marketplace that connects the suppliers with retailers across Egypt.

Yalla Plus

Payment

Enterprise Software

Yalla is on a mission to empower entrepreneurs with innovative technologies. Our products help restaurants, cafes, hotels and other businesses manage their finances, process payments, and streamline operations. From small kiosks and food trucks, to multinational corporations; we partner with businesses of all sizes to grow and succeed, creating a thriving economy.

bluworks

Payroll

Management

bluworks combines prowess in management, workforce development, and technology to provide blue-collar-dependent businesses with a highly customizable, organized, secured, and (most importantly) mobile-first HR integrated platform.

Aya App

Fashion

Women's

We’re here to change the modest fashion game by unifying a hugely fragmented market into a single, trend-driven platform. We anticipate upcoming trends and connect local manufacturers with real-time demand, ensuring only the most loved styles are produced. Through our on-demand video platform, we bring these trends to life, connecting consumers with the styles they love.

Grant

Rise (Go Rise)

Rise is financial services platform for migrants, helping them manage their finances in their host and home country seamlessly on a single platform.

Melltoo

Internet

Mobile marketplace for buying and selling second hand things.

Moonshot Brands

Jeddah

Baytonia

Furniture

Home Decor

Real Estate

Interior Design

Baytonia is a Saudi-based B2B e-commerce marketplace transforming the way businesses furnish and design their spaces.

Maqsam

Machine Learning

Customer Service

Maqsam is the leading Arabic AI-powered Contact Center Solution in the MENA region designed to revolutionize customer experience.

Saudi Arabia-based fintech Malaa Technologies, has raised $1.7 million in its Seed round with participation from Impact46, Khawarizmi ventures, Venture Souq, WealthWell, and several angel investors.
Founded in 2020 by Ali Alorainy and Faisal Alqarni, Malaa facilitates access to expense management and promotes a culture of savings in communities.
The fintech recently obtained a permit from the Saudi Central Bank regulator (SAMA) to operate open banking activities.
Press release:

Saudi financial technology startup Malaa Technologies has raised SAR6.4 million ($1.7 million) in its Seed round with participation from Impact46, Khawarizmi ventures, Venture Souq, WealthWell, and a number of angel investors.

Established back in November 2020, the startup was founded by Ali Alorainy and Faisal Alqarni who both come with diverse experiences in finance and technology. Malaa recently announced obtaining SAMA’s permit to operate open banking activities with the aim to help individuals make better financial decisions through cutting edge technologies in big data and artificial intelligence

Abdulaziz Alturki, MD of Khawarizmi Ventures, said “Malaa team is a great example of aspiring entrepreneurs who took a bold step as the first fintech company to launch its services on top of Open Banking. Malaa will contribute to facilitating access to expense management and promoting a culture of savings in communities. We are pleased to have joined their journey in achieving their mission of raising financial awareness and personal financial management”

Mohammed Alnasyan, from impact46 team, adds: “There is an increase in financial awareness driven by changing consumer behaviour globally and a number of government initiatives locally. Along with the Open Banking Policy, the need for personnel tools to manage and take effect of this major shift in the financial sector is evident. Malaa has a unique approach to addressing this shift with its solutions from financial management, investment, and especially lending. We have a long history with Malaa's founders and we have always been impressed by their ambition and resilience. We are believers in Malaa team and vision and are happy to support their journey"

VentureSouq General Partner stated that “Our FinTech thesis includes personal finance management where we think there is significant whitespace in the MENA region and we are excited about Malaa’s solutions-based approach starting with savings for millennials and Gen Z users as a tool to make better borrowing and investing decisions. We are thrilled to be joining Ali and Faisal on their journey.”

Malaa Technologies raises $1.7 million Seed round

Malaa Technologies, a Saudi-based fintech startup, raised $1.7 million in a seed funding round. The round saw contributions from investors including Impact46, Khawarzmi Ventures, Venture Souq, and WealthWell. The funds will be used to expand the startup's market reach, following its recent permit from the Saudi Central Bank to operate open banking activities.

Saudi fintech Malaa Technologies raises $1.7m in seed round

Malaa Technologies successfully closed its Series A funding round, raising 65 million SAR ($17.3 million). The round was led by SNB Capital with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN. The funds will be used to enhance compliance, governance, and cybersecurity systems, and to launch new investment and savings products.

Saudi Wealth Management Leader Malaa Raises $17.3 Million in Series A Funding

Malaa Technologies secured $17.3 million in Series A funding led by SNB Capital, with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN. The funding will be used to enhance Malaa's investment and savings products, bolster compliance, governance, and cybersecurity systems, and support its growth within Saudi Arabia's fintech sector. Malaa aims to create a comprehensive ecosystem for wealth management, aligning with the Kingdom's Vision 2030 initiative.

Malaa's $17.3 Million Boost: A New Era for Wealth Management in Saudi Arabia

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Abu Dhabi-based Alma Health has secured $10 million in a Series A funding round led by Knuru Capital and Hamro Oryx Fund, with participation from e& capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures. The funds will be used to expand regionally, particularly into Saudi Arabia, and to enhance their technological infrastructure. Alma Health aims to become a leading direct-to-patient healthcare provider focusing on chronic condition management, offering services like virtual consultations, home lab tests, and medication delivery.

"We Got Funded!" Abu Dhabi-Based Alma Health Secures US$10 Million In A Series A Funding Round Alma Health is a fully-verticalized digital healthcare provider dedicated to transforming the lives of individuals living with chronic conditions

Yalla Plus, founded in 2022 by Abdullah Alrabeh and Bader Alnasser, has raised Seed funding to enhance its tech platform for the hospitality sector. The company provides an integrated POS system with payment management, customer feedback, and delivery solutions, serving thousands of entrepreneurs in 11 countries. Yalla Plus aims to reach 100,000 entrepreneurs in 50 countries, focusing on the Middle East, Europe, and Southeast Asia. Merak Capital, led by Abdullah Altamami, has invested in Yalla Plus, supporting its goal to become a global Saudi tech firm aligned with Saudi Vision 2030.

Saudi foodtech Yalla Plus closes $2.7 million Seed round

Yalla Plus, a Riyadh-based startup, announced the successful closure of its seed investment round, raising 10 million SAR($2.7 million USD). The round was led by Merak Capital, with participation fromKhwarizmi Ventures, Isometry Capital, and angel investors from the Middle Eastand the United States.

Yalla Plus raises $2.7 Million Seed Funding to Transform Hospitality Tech

Yalla Plus, a Riyadh-based startup, announced the successful closure of its seed investment round, raising 10 million SAR ($2.7 million). The round was led by Merak Capital, with participation from Khwarizmi Ventures, Isometry Capital, and angel investors from the Middle East and the United States.

Saudi Startup Yalla Plus Raises USD 2.7 Million to Expand Its Tech Platform

Saudi Arabia-based furniture e-commerce platform Baytonia has closed an undisclosed Seed round, led by Khwarizmi Ventures (KV), with participation from angel investors.
Founded by Karam Rajab and Ibrahim AlHowaish, Baytonia is an online furniture marketplace that caters to both buyers and sellers by offering logistics, including pickup, listing, storage, assembly, and delivery through its B2B portal.
Baytonia plans to use the latest funding to scale its services and expand its offerings across Saudi Arabia.

Saudi furniture marketplace Baytonia raises Seed round

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Khwarizmi Ventures Portfolio - Maqsam

Saudi fintech company SiFi has closed its pre-Seed funding round led by Khwarizmi Ventures. SiFi provides a Financial Management Solution that allows companies to issue virtual and physical corporate cards, manage spending, automate expense reporting, and integrate with major accounting systems. The funding will help SiFi become a market leader in corporate card solutions, addressing the needs of startups, SMEs, government, and large enterprises in managing expenses effectively.

Saudi fintech SiFi closes pre-Seed round led by Khwarizmi Ventures

RIYADH: Saudi-based corporate expenses firm Simplified Financial Solutions Co., also known as SiFi, has completed its undisclosed funding pre-seed round.

The money raised in the round, led by Khwarizmi Ventures, KV, will be used to launch its services based around business expenses management.

Founded in 2021, SiFi is currently in its pre-launch stage, and Breyer Capital, was one of the angel investors which participated in the round, a statement showed

Saudi-based fintech SiFi closes pre-seed round led by Khwarizmi Ventures

Simplified Financial Solutions Company (SiFi) has closed a Seed funding round to enhance its spend management platform in Saudi Arabia. The funding will help SiFi improve its offerings, deliver more value to customers, and strengthen its position in the market. Investors include Sanabil Investments and RAED Ventures, who are attracted by SiFi's team, product, and the growing demand for financial management tools in Saudi Arabia. SiFi's affiliate, Alhulul Almobassatah Financial Company, has also received an EMI licence from the Saudi Central Bank, allowing it to offer e-wallet services.

SiFi closes $10 million Seed led by Sanabil Investments, RAED Ventures

Saudi Arabia-based Simplified Financial Solutions Company (SiFi) raised $10 million in a seed funding round to expand its operations in its home market. The round was led by Sanabil Investments and RAED Ventures. SiFi plans to use the funds to enhance its spend management platform and leverage its Electronic Money Institution license to offer services like e-wallets and smart corporate cards.

Spend management startup SiFi raises $10M to grow further in Saudi Arabia

Saudi Arabia-based fintech Simplified Financial Solutions Co. (SiFi) closed a $10 million seed round led by Sanabil Investments and RAED Ventures. Other investors included anb seed, Rua Ventures, Byld, KBW Ventures, Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com. The funding will be used to enhance SiFi's offerings and solidify its position as a leading spend management solution in Saudi Arabia.

Startup Wrap — Saudi SiFi closes $10m round; MENA funding sees 413% MoM growth

Qawafel, a B2B tech-enabled company based in Riyadh, has secured Seed funding to enhance its platform that connects suppliers with buyers in the confectionery and refrigerated market. The company plans to use the funding for business operations, R&D, and expansion into new sectors like the frozen food industry by the end of 2022. Qawafel aims to support local production and improve supply chain efficiency, having already enabled over 300 local factories and serving more than 5000 points of sale across Saudi Arabia.

Saudi Qawafel raises $3 million Seed round

Qawafel, a KSA-based B2B online marketplace, raised $3 million in their seed funding round. The company plans to use the funding to grow its business operations, invest in R&D for new products and services, and expand into new markets such as the frozen food industry by the end of 2022. The funding round aims to enhance the efficiency of supply chains and support local production in the confectionery and refrigerated market.

Saudi-based Qawafel raises $3M seed

Saudi Arabia-based re-commence marketplace Soum, has raised $4 million in Seed funding, led by Outliers Venture Capital and Mazen Aljubeir, with participation from Khwarizmi Ventures, Ammar AlKhudairy, and multiple angel investors.

Saudi C2C marketplace Soum raises $4 million Seed round

Soum, a Riyadh-based online recommerce marketplace, has raised $4 million in Seed financing to enhance its platform and expand its market presence. The startup, founded by Fahad Al Hassan, Fahad Albassam, and Bader Almubarak, focuses on creating a seamless secondhand buying experience for consumer electronics in Saudi Arabia. The investment will support Soum's growth and expansion efforts in the recommerce space.

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We Invest in Startups in the Following Stages

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