What is Raqamyah?
Founded in 2019 and based in Olaya Riyadh, Saudi Arabia, Raqamyah operates under the authorization of the Central Bank of Saudi Arabia within its experimental environment. The company specializes in financial technology, providing a digital platform that directly connects small and medium-sized companies seeking financing with financiers. This innovative model facilitates the growth of SMEs by offering competitive Murabaha returns, thereby fostering a more accessible and efficient financing ecosystem.
How much funding has Raqamyah raised?
Raqamyah has raised a total of $2.3M across 1 funding round:
Other Financing Round
$2.3M
Other Financing Round (2021): $2.3M with participation from Fadeed Investment, Impact46, Vision Ventures, and Al Yusr company
Key Investors in Raqamyah
Fadeed Investment
Fadeed Investment is an entity participating in Raqamyah's funding round. Specific investment focus is not detailed.
Impact46
Impact46 is a Saudi Arabian venture capital firm that invests in technology-enabled companies. They focus on supporting the growth of innovative businesses within the region.
Vision Ventures
Vision Ventures is a venture capital firm specializing in early-stage new media and software businesses, based in New York City. They partner with entrepreneurs to foster market-shaping companies.
What's next for Raqamyah?
With the recent injection of major strategic investment, Raqamyah is poised for significant expansion. The company's focus on leveraging modern technology to bridge the gap between SMEs and financiers, coupled with its regulatory approval, positions it for substantial growth. Future initiatives are likely to involve scaling its operations, enhancing its digital platform's capabilities, and potentially broadening its service offerings to cater to a wider range of financial needs within the Kingdom and beyond. This strategic backing signals confidence in Raqamyah's business model and its potential to disrupt traditional financing methods.
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