Sindbad Tech, a fintech company from Saudi Arabia, has raised SAR 18 million (around $4.8 million) in a seed funding round led by Alkhabeer Capital during the Money20/20 Middle East event.
The money will help Sindbad Tech grow its fintech services, improve its technology to make transactions faster and easier, and provide better solutions for both individuals and businesses.
This funding shows that investors believe in the future of autonomous finance and its importance in building Saudi Arabia’s digital financial systems.
It also supports Saudi Vision 2030 by promoting innovation, speeding up digital transformation, and helping the Kingdom become a top fintech hub in the region.
Sindbad Tech was founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi, and Ziad Aqbawi. It started as a research project that studied financial market trends using traditional indicators and math models.
Over time, the company grew into a fintech business, offering advanced investment and financial solutions to its clients.
Alkhabeer Capital is a well-known asset manager that focuses on Shari’a-compliant investments, financial services, and brokerage. It has been actively supporting new and innovative fintech solutions in the region.
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