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Manafa closes Series A round to fund Saudi growth
Vineeta Tan - 0
Hot on the heels of receiving its license from the Saudi Central Bank (SAMA), Islamic crowdfunding platform Manafa lands a SAR106 million (US$28.23 million) Series A investment round, which will help the start-up fund product development and its expansion plan in Saudi Arabia.
Islamic fintech start-up Manafa wins SAMA license
IFN Fintech - 0
The Saudi Central Bank (SAMA) has granted a license to Manafa, a new fintech company that specializes in Shariah compliant debt-based crowdfunding in the Kingdom.
Manafa
IFN Fintech - 0
Over the past decades, the financial sector has gone through many changes like other sectors, as a result of technical development and changing user...
Saudi tech VC fund to utilize new Shariah compliant non-dilutive venture debt instrument to support start-ups
Emir Zainul - 0
Saudi Technology Venture (STV), the largest technology venture capital (VC) fund in the Middle East, has launched its Total Growth platform, which will utilize a newly developed product named Tanami that will act as a Shariah compliant non-dilutive venture debt instrument.
Fintech in Saudi: How is the Kingdom faring?
Efforts from Saudi Arabia, one of the largest Islamic finance markets in the world, to nurture its fintech potential are paying off, as the Kingdom witnessed the number of fintech companies almost doubling, and funding into fintech companies growing by 11% this year.
Saudi issues draft regulations on debt-based crowdfunding as number of Islamic fintech companies grows
The Saudi Arabian Monetary Authority (SAMA) has launched draft regulations on debt-based crowdfunding in the Kingdom, now open for public feedback, as part of its efforts...