Abyan Capital, a trailblazing robo-advisory enterprise based in Saudi Arabia, has successfully completed a Series A financing round, amassing $18 million. The investment round saw significant contribution from STV, with additional backing from Wa’ed Ventures and RZM Investment.
Established in 2022, Abyan Capital has been instrumental in transforming the financial advisory domain within Saudi Arabia by providing automated, accessible, and Shariah-compliant investment and savings solutions. These products enable investors to manage their assets efficiently, adjust their asset allocations, and fulfill their financial goals with ease.
Abdullah Aljeraiwi, the CEO and co-founder, shared the firm’s foundational goal, remarking, Abyan Capital was established to demystify personal investment for all individuals in Saudi Arabia, regardless of their knowledge of finance.
He went on to disclose, Abyan began as an initiative to innovate the asset management sector in the Kingdom for individuals, aligning with the Financial Sector Development Programme’s objectives. We are delighted that Abyan has swiftly surpassed 1.4 billion Saudi Riyals in deposits and managed over 100,000 portfolios. We are also preparing to introduce new, varied products shortly, aiming to position Abyan as the premier digital retail investment house.
Saleh Alaqeel, Co-founder and COO, highlighted the importance of this funding in driving the evolution of Saudi Arabia’s sophisticated investment sector. Alaqeel pointed to Abyan’s dedication to innovation and inclusivity, with the launch of diverse retail investment products designed to meet varying investor requirements.
The fresh capital will strengthen Abyan’s platform, refine its financial product offerings, and expand its market reach throughout the investment solution ecosystem. Furthermore, the funding will propel Abyan’s objective to democratize access to advanced investment tools, thus enabling wider participation in both global and local financial markets.