Venture activity spurs across MENA region

The MENA #startupecosystem is gaining traction with several early-stage #funding rounds led by Saudi ventures. One notable example is Wadaie, a Saudi fintech platform established to enhance the country's savings sector by bridging the gap between depositors and #banks. With RZM Investments leading the pre-seed funding round, the startup offers Shariah-compliant earnings on time deposits, eliminating the need for depositors to open new accounts across multiple #financialinstitutions.

CEO Al-Andas emphasized Wadaie's alignment with Saudi Arabia's #financial development goals, particularly the growth of the #fintech space. With this #capital injection, Wadaie aims to diversify its savings and investment offerings for a smoother client experience.

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