What is Raqamyah?
Founded in 2019 and headquartered in the Olaya district of Riyadh, Raqamyah operates as a specialized digital platform that facilitates direct lending between businesses and investors. By leveraging modern financial technology, the company enables SMEs to access essential capital while offering financiers competitive Murabaha returns. Authorized within the Central Bank of Saudi Arabia's experimental environment, Raqamyah is positioned at the intersection of traditional Islamic finance and modern digital infrastructure, effectively democratizing access to credit for the Kingdom's burgeoning business sector.
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 Al Yusr company, Fadeed Investment, Impact46, and Vision Ventures
Key Investors in Raqamyah
Impact46
Impact46 is a prominent investment firm focused on supporting high-growth startups and digital ventures within the Saudi Arabian market.
Vision Ventures
Vision Ventures is a venture capital firm specializing in early-stage software and new media businesses, known for its hands-on approach to supporting audacious entrepreneurs.
Al Yusr company
Al Yusr company is a strategic financial entity that provides capital and support to emerging businesses, contributing to the broader development of the regional financial sector.
What's next for Raqamyah?
With this major strategic investment, Raqamyah is well-positioned to accelerate its product development and market penetration. The company's trajectory suggests a focus on enhancing its algorithmic risk assessment capabilities and expanding its user base of both borrowers and lenders. As the fintech ecosystem in the Middle East matures, Raqamyah's ability to maintain regulatory compliance while scaling its peer-to-peer lending volume will be critical. Future growth will likely involve deepening its integration with local financial institutions and potentially diversifying its product offerings to include more sophisticated financial instruments, thereby cementing its status as a cornerstone of the Saudi digital economy.
See full Raqamyah company page
