Riyadh, Saudi Arabia:
Fintactics, a Riyadh-based venture builder specializing in financial technology, has entered a strategic partnership with Ethos Invest, a global investment firm, and Arbah Capital, a CMA-licensed investment company. This alliance will drive the newly launched Fintactics Financial Technology Fund.
Backing Innovation in FinTech:
The new fund is set to raise $40 million (150 million SAR) for Shariah-compliant early-stage investments. While its main focus will be Saudi startups, the fund will also look for promising opportunities across the Middle East and global markets.
The partnership unites three core strengths:
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Fintactics’ expertise in building successful ventures
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Ethos Invest’s international investment network
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Arbah Capital’s deep knowledge of the regional financial ecosystem
This collaboration reflects Saudi Arabia’s growing reputation as a FinTech and venture capital hub.
Boosting Saudi Arabia’s Startup Ecosystem
Saudi Arabia recently ranked first in the MENA region for total venture capital funding in the first half of 2024. The fund’s launch aligns closely with Vision 2030, which prioritizes building a resilient and dynamic entrepreneurial environment.
Initial engagements have already begun with a number of high-potential startups. The fund is expected to start deploying capital later this year.
Leaders Speak on Strategic Vision
Haitham Alsahfy, Co-Founder and CEO of Fintactics, expressed confidence in the venture:
“We are thrilled to announce this strategic partnership, which highlights the immense potential of the Saudi FinTech sector. This collaboration will help us back transformative companies shaping the future of financial services both regionally and globally.”
Kevin Cunningham, Partner at Ethos Invest, noted:
“Combining Fintactics’ venture-building expertise with our global reach and Arbah Capital’s regional insight uniquely positions us to support the next generation of financial services leaders.”
Waleed Al-Rashdan, CEO of Arbah Capital, added:
“This fund represents a strategic investment in the future of finance. Together, we aim to create a thriving FinTech ecosystem in Saudi Arabia and beyond.”
About the Partners
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Fintactics is a Riyadh-based venture studio and VC fund focused on FinTech innovation in the MENA region and beyond.
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Ethos Invest, part of the Ethos Group, works to build a digital ecosystem of ethical financial services that promote global financial well-being.
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Arbah Capital is the first Islamic boutique investment firm in Saudi Arabia’s Eastern Region, committed to offering forward-looking investment solutions.
This partnership signals increasing international trust in Saudi Arabia’s financial technology landscape, setting the stage for future innovation and investment.
