Wa’ed Center Expands its Partnership with Saudi Fintech

Wa’ed Center, the entrepreneurship arm of Saudi Aramco, joins Saudi Fintech as a strategic partner to support the second batch of emerging local companies in the field of financial technology

Wa’ed Center, the entrepreneurship arm of Saudi Aramco, announced its strategic partnership with Saudi Fintech to launch the “Fintech Accelerator” program, which will be presented in cooperation with FLAT6LABS – the leading seed investment and accelerator in the Middle East and North Africa.

The 12-month program aims to support and develop the growth of emerging FinTech companies in the Kingdom of Saudi Arabia.

The program will also include the participation of the Saudi Central Bank and the Capital Market Authority.

As a strategic partner in investing and incubating in the Fintech Accelerator, Waed Center will organize workshops for start-up companies to introduce them to the foundations of business promotion and accelerate their growth, and showcase best practices in the field of entrepreneurship, in addition to organizing training and supervisory courses. The program concludes with an introduction day in which fintech companies pitch their projects to potential investors.

 “Wa’ed Center is distinguished by its deep experience in selecting promising startups in the Kingdom, and through our partnership with the Saudi Fintech accelerator, we aim to give these companies a strong start and support them throughout their pioneering path, Eng. Fahad Al-Eidi, Managing Director of Wa’ed Center, said.

To achieve remarkable growth that qualifies them to raise capital. boldness and obtaining the necessary legislations to practice their advanced businesses.

Fintech is one of the most important and fastest growing sectors of emerging companies in the Kingdom of Saudi Arabia, which has witnessed positive acceleration and demand in recent years to meet the increasing demand for innovative FinTech solutions. In line with this trend, Wa’ed Center recently closed an investment of SR19 million for the pre-investment stage in “Lama” financial technology company, in partnership with “Raed Ventures”.

Saudi-based Lammah provides financing solutions to small and medium-sized businesses, including supply chain finance and “buy now, pay later” services.

“We are very happy with the strategic partnership with Wa’ed in the Fintech accelerator program, through which we seek to ensure continuity of support for the Fintech companies participating in the program for a period that continues beyond the program.

Through the acceleration, we aspire to provide guidance and guidance to the participants from During the legislative requirements development path and the business development path, , Nizar Al-Haider, Director of the Fintech Saudi Accelerator, said, for his part..

All eligible companies will be reviewed and evaluated for legal compliance, and each company must have at least one viable product, at least one full-time employee, and one of its founders with technology experience. After completing the Fintech accelerator program, participating startups can continue to benefit from the support services through structured meetings with the accelerator team.

For more information about Fintech Saudi, visit: www.fintechsaudi.com