Saudi Arabia-based Sindbad Tech has successfully raised $4.8 million (SAR 18 million) in a seed funding round led by Alkhabeer Capital. The announcement came during Money20/20 Middle East, highlighting the growing confidence in Saudi Arabia’s fintech ecosystem.
The funding marks a pivotal moment for Sindbad Tech, enabling the company to strengthen its offerings, expand its technology base, and further align with Saudi Vision 2030 goals for innovation and digital transformation.
From Research to Fintech Leader
Founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi, and Ziad Aqbawi, Sindbad Tech began as a research project analyzing financial markets using traditional indicators and mathematical models. Over time, it transformed into a fintech company providing advanced investment and financial solutions for individuals and enterprises.
This evolution reflects both the founders’ vision and the region’s rapid shift toward digital finance.
Funding Goals and Strategic Expansion
The newly secured capital will be directed toward several key areas of growth:
- Product expansion to introduce new digital investment and financial management tools.
- Advanced technologies to improve transaction efficiency and reliability.
- Scalable infrastructure to serve a broader base of clients across Saudi Arabia and beyond.
- Support for Vision 2030, advancing the Kingdom’s strategy to become a global fintech hub.
By focusing on these priorities, Sindbad Tech aims to deliver smarter, more accessible financial solutions that empower both individuals and businesses.
Confidence in Autonomous Finance
The successful seed round underscores investor belief in the potential of autonomous finance. Sindbad Tech is building technologies that reduce reliance on manual processes, making financial transactions more efficient and transparent.
Such solutions are seen as critical to the future of the Kingdom’s financial infrastructure. Investors, led by Alkhabeer Capital, view Sindbad Tech as well positioned to capture opportunities in the fast-evolving digital finance sector.
Role in Saudi Arabia’s Fintech Ecosystem
Saudi Arabia’s fintech industry is experiencing rapid growth, supported by regulatory initiatives, increasing digital adoption, and ambitious goals under Vision 2030. Platforms like Sindbad Tech are playing an essential role in:
- Driving innovation within financial services.
- Expanding digital access for individuals and SMEs.
- Enhancing efficiency across investment and payment systems.
- Contributing to the country’s ambition of becoming a leading fintech hub in the Middle East.
Outlook on Sinbad
Sindbad Tech’s $4.8 million seed funding round represents more than a financial boost. It signals strong market confidence in its model, highlights the strategic role of autonomous finance, and reinforces Saudi Arabia’s momentum as a global fintech leader.
As the company expands its technology and product offerings, Sindbad Tech is set to make a lasting impact on the Kingdom’s digital transformation journey.