Abyan Capital, a Saudi Arabian robo-advisory startup, has closed a $18 million Series A investment led by STV and including Wa’ed Ventures and RZM Investment. Abyan Capital is a financial services firm that offers an automated solution and portfolio management for long-term investments. It was founded in 2022 by Abdullah Aljeraiwi Omar Almania and Saleh Alaqeel.
The additional funding will be used to develop Abyan’s platform even more, increase the range of financial products it offers, and quicken its entry into new markets along the value chain for investment solutions.
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The first robo-advisory business in Saudi Arabia, Abyan Capital, announced today the completion of a $18 million Series A funding round led by STV and including Wa’ed Ventures and RZM Investment.
Since its founding in 2022, Abyan Capital has transformed the Saudi Arabian financial advising market by offering automated, user-friendly, and savings and investment options that adhere to Shariah. With the help of the company’s product suite, consumers may easily reach their financial objectives, optimise their asset allocations, and manage their investments with efficiency.
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“Abyan Capital was founded with the vision to simplify personal investment for everyone in Saudi Arabia, regardless of their financial literacy levels,” said Abdullah Aljeraiwi, CEO and co-founder of Abyan Capital. “The idea of Abyan began as an effort to disrupt the asset management industry in the Kingdom for individuals, which is one of the objectives of the Financial Sector Development Programme. Today, we are proud that in a very short amount of time, Abyan has exceeded deposits of over 1.4 billion Saudi Riyals and invested more than 100,000 portfolios. And we will be launching new, diversified products soon with the goal of making Abyan the digital retail investment house.”
Saleh Alaqeel, Co-founder and COO of Abyan Capital, added, “This funding highlights the potential of Saudi Arabia’s burgeoning modern investment industry. Since our launch, we’ve introduced several unique retail investment offerings, including children’s portfolios, card-based recurring investments, and high-yield savings portfolios, among others. It also demonstrates Saudi Arabia’s robust technology infrastructure, as we’ve successfully processed over 4 million trades and distributed more than 600,000 dividends to our users.”
The recently obtained capital will be employed to improve Abyan’s platform even more, broaden its range of financial offerings, and quicken its entry into the investment solution value chain. The investment will further the company’s goal of giving more people access to advanced financial products and tools so they can participate in and profit from both local and international financial markets.
About Abyan Capital
Abyan Capital was founded to give people a simple, automated way to manage their long-term investments. Expertly crafted portfolios may be easily accessed through an automated process that takes just a few minutes. This business is permitted to operate in the automated advisor industry by the Capital Market Authority.
