Bwatech is a Saudi fintech company that helps businesses manage their finances.
The company has raised $16 million (about SAR 60 million) in new funding, with the round led by Sharaka Financial.
The funding will help Bwatech grow faster and reach more businesses in the Saudi market.
It will also make the company stronger as a top fintech provider, offering solutions that make banking and business finances more efficient.
Bwatech provides a platform that helps businesses handle their finances with different banks. It includes services like digital bank guarantees, account management, and open banking.
Companies can use these solutions through a web portal or mobile app, and they can also connect directly to their own systems using API integrations for smooth operations.
Hashim Al Hekail, Founder and Chairman of Bwatech, said, “This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion.”
Bwatech was founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail. It works under the Saudi Central Bank’s (SAMA) regulatory sandbox.
The company’s goal is to modernize how Saudi businesses manage their finances by offering easy, digital solutions powered by APIs.
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