Saudi Arabia’s fintech sector continues to advance, with Bwatech securing $16 million (SAR 60 million) in its latest funding round. The investment, led by Sharaka Financial, will accelerate the company’s growth and strengthen its role in the Kingdom’s evolving digital financial infrastructure.
A New Force in Corporate Finance
Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech focuses on streamlining financial management for corporates and banks. Its integrated platform allows businesses to operate more efficiently by connecting with multiple financial institutions through one system.
Key features of Bwatech’s platform include:
- Digital bank guarantees to replace traditional, paper-based guarantees.
- Account management tools for oversight across different banks.
- Open banking services that give companies real-time financial insights.
- API integrations to link directly with corporate systems.
- Mobile and web accessibility for seamless use across devices.
By simplifying complex financial processes, Bwatech helps companies save time, reduce errors, and make more informed financial decisions.
Operating Within the SAMA Sandbox
Bwatech currently operates under the Saudi Central Bank’s (SAMA) sandbox program, a framework that allows fintech firms to test products under regulatory supervision. This approach ensures innovation while maintaining compliance and consumer trust.
The company’s participation in the sandbox highlights its role as a trusted partner in shaping the Kingdom’s next phase of financial digitalization.
Fueling Growth with $16 Million
The fresh $16 million injection will support several strategic priorities:
- Market expansion within Saudi Arabia and potentially into regional markets.
- Product enhancement to improve digital bank guarantees and open banking tools.
- Stronger corporate partnerships with enterprises seeking efficient financial management solutions.
- Talent acquisition to scale operations and technical capabilities.
According to founder and chairman Hashem Al Hekail, this funding round represents a “pivotal step” in building a more efficient digital financial ecosystem for businesses across the Kingdom.
Aligning with Vision 2030
Saudi Arabia’s Vision 2030 places digital transformation at the center of economic development. As businesses demand more agile and transparent financial services, companies like Bwatech are positioned to meet those needs.
Bwatech’s growth supports Vision 2030 by:
- Driving fintech innovation within the Kingdom.
- Enhancing transparency and efficiency in corporate finance.
- Building scalable digital infrastructure that supports long-term economic growth.
Outlook on Bwatech
Bwatech’s $16 million funding round marks a milestone in Saudi Arabia’s fintech journey. With backing from Sharaka Financial and the support of SAMA’s sandbox, Bwatech is poised to scale its impact and deliver smarter, faster, and more secure financial solutions for corporates.
By bridging technology and finance, Bwatech is not just strengthening its own position but also contributing to the Kingdom’s vision of a more diversified and digitally empowered economy.