Saudi Fintech Company Amwal Tech Raises $2.5M in Pre-Seed Round

Amwal Tech, a fintech company based in Saudi Arabia, raised $2.5 million in a pre-seed round led by Outliers Venture Capital, Shorooq Partners and angel investors. The digital payment solutions company provides strong authentication, identity orchestration, and secure frictionless payment solutions.

The Amwal biometric checkout is licensed by the Saudi Central Bank and aims to revive authentication and authorization within payment markets in the Middle East.

Regional fintech solutions are on the rise across the region, with funding opportunities and deals amazing more than $900 million across more than 130 investments, amounting to 30% of total capital deployed in the Middle East.