Saudi investment minister due in Pakistan to finalize $2bn business proposals
Saudi investment minister due in Pakistan to finalize $2bn business proposals/node/2574611/business-economy
Saudi investment minister due in Pakistan to finalize $2bn business proposals
In this file photo, taken on Feb. 15, 2019, Pakistani commuters drive their vehicles under a banner welcoming ’s Crown Prince Mohammed bin Salman displayed on a bridge, ahead of his arrival in 2019, in Islamabad. AFP/File
ISLAMABAD: A high-level Saudi delegation, led by the Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih, will arrive in Pakistan on Oct. 9 for a three-day visit during which $2 billion in business-to-business investment proposals are expected to be finalized.
Pakistan’s foreign office confirmed Al-Falih’s visit from earlier this week, noting that he would be accompanied by a high-level delegation. The visit by the Saudi minister and his team comes ahead of the Shanghai Cooperation Organization summit set to be held from Oct. 15-16 and aims to enhance economic collaboration between the two countries.
Addressing his cabinet ahead of the visit, Prime Minister Shehbaz Sharif confirmed the anticipated signing of $2 billion worth of agreements with the incoming Saudi delegation. Deputy Prime Minister Ishaq Dar also spoke about it at a ceremony in the federal capital.
“The Saudi Minister for Investment will arrive on Wednesday to finalize various business-to-business investment proposals, which are estimated to exceed $2 billion,” Dar said on Tuesday.
“In recent times, has remained rock solid in helping us navigate difficult economic challenges,” he continued, adding the Kingdom’s support had been critical in enabling Pakistan to stand on its own feet.
“The two countries are on a path to forge ever closer strategic cooperation between people of the two countries,” he said.
Dar emphasized the need for both countries to maintain the current momentum in their bilateral relations to achieve the vision of their leaders, where both nations grow together into stronger and more prosperous states.
“On behalf of the people and the government of Pakistan, I extend my deep and sincere gratitude to the Kingdom of for its continued support and assistance to Pakistan in good times as well as in difficult phases,” he said.
Pakistan and have been working closely in recent months to increase bilateral trade and investment deals, with Crown Prince Mohamed bin Salman reaffirming the Kingdom’s commitment earlier this year to expedite a $5 billion investment package for the South Asian country.
Pakistan has been seeking closer cooperation in trade, defense, energy and other sectors with regional allies as it aims to recover from a prolonged economic crisis that has drained its foreign exchange reserves and weakened its currency.
RIYADH: ’s foreign direct investment net inflows climbed 14.5 percent year on year to SR22.8 billion ($6.1 billion) in the second quarter, signaling a steady appetite for the Kingdom’s reform-driven economy.
The figure, released by the General Authority for Statistics, compared with SR19.9 billion a year earlier.
On a quarterly basis, net inflows dipped 3.5 percent from the SR23.7 billion recorded in the first three months of 2025, underscoring lingering global headwinds that continue to weigh on cross-border capital flows.
The increase in net inflows reflects a broader effort by to attract long-term foreign capital as part of its Vision 2030 strategy, which aims to diversify the economy beyond oil revenues.
The Kingdom has been implementing regulatory reforms, opening up sectors such as tourism, renewable energy, and technology to international investors, and launching initiatives through the Ministry of Investment to position as a regional hub for capital flows.
In its release, GASTAT stated: “The volume of inflows amounted to about SR24.9 billion during the second quarter of 2025. It achieved a decrease of 11.5 percent compared to the second quarter of 2024, which was approximately SR28.2 billion.”
It added: “While it recorded a decrease of 3.5 percent compared to the first quarter of 2025, which recorded SR26 billion.”
Meanwhile, FDI outflows dropped sharply to SR2.1 billion, down 74.5 percent from SR8.2 billion a year earlier and 10.5 percent lower than SR2.3 billion in the previous quarter.
While continues to draw large-scale strategic investments, maintaining momentum will depend on investor confidence in regulatory stability and the pace of economic diversification projects.
In the Gulf region, the UAE remains a leading competitor for FDI. In 2024, UAE inflows reached $45.6 billion, marking a 48 percent year-on-year increase and earning the country a top-10 global ranking in FDI recipients.
Dubai, in particular, saw a 33 percent increase in FDI capital in 2024, attracting a record 1,117 greenfield projects.
GASTAT defines foreign direct investment as cross-border transactions in which a foreign investor holds at least 10 percent of the voting power in a Saudi company.
The net inflow figure represents the balance between total inflows and outflows, reflecting the extent of retained foreign investment in the Kingdom.
has recently stepped up efforts to attract foreign capital through regulatory and market reforms.
In June, the government issued 83 new industrial licenses and launched 58 factories worth SR 2.85 billion.
Recent media reports also highlight that authorities are considering easing the 49-percent cap on foreign ownership in listed companies to boost equity market inflows, although no official announcements have been made.
In parallel, global firms such as Macquarie Asset Management have signed preliminary agreements to establish a presence in the Kingdom, targeting infrastructure and energy sectors.
GCC tourism surges to $247bn as intra-regional travel accelerates
Updated 21 min 58 sec ago
Mohammed Al-Kinani
JEDDAH: Tourism across the Gulf Cooperation Council contributed $247.1 billion to the region’s economy in 2024, marking a nearly 32 percent increase compared with 2019, the latest official data showed.
According to preliminary data from the GCC Statistical Centre, intra-GCC travel experienced a sharp rebound, rising 52 percent over the same period, with 19.3 million visitors traveling between member states.
Intra-regional tourism now accounts for 26.7 percent of total GCC tourism, highlighting growing cultural integration and regional mobility.
The findings appear in GCC-Stat’s report GCC Tourism: Intra-Gulf Integration, released to coincide with World Tourism Day on Sept. 27. The report underscores tourism’s expanding role as a driver of economic growth, employment, and cultural exchange, while supporting environmental sustainability initiatives across the Gulf.
continued to set the pace for regional tourism expansion. In 2024, the country welcomed a record 30 million international visitors, up 8 percent from 2023, generating SR284 billion ($75.7 billion) in tourism spending, an 11 percent increase year on year. Total domestic and international tourists reached approximately 116 million, rising 6 percent over the previous year.
’s rapid growth extends into 2025. According to the UN World Tourism Organization’s World Tourism Barometer, the Kingdom posted the highest global increase in international tourist revenue during the first quarter of 2025, with arrivals up 102 percent compared with the same period in 2019.
Madinah, the Kingdom’s spiritual and cultural hub, was ranked among the world’s top 100 tourist destinations by Euromonitor International. It placed first in , fifth in the Gulf, and sixth in the Arab world, reflecting ongoing investments in visitor experience and strategic tourism development.
Key attractions include the Museum of the Architecture of the Prophet’s Mosque, the Safiyya Museum, and a growing portfolio of entertainment and cultural projects.
GCC-Stat projects that tourism’s contribution to the GCC’s GDP could reach $371.2 billion, or 13.3 percent of GDP, by 2034. Employment in the sector is also expected to expand, generating an estimated 1.3 million new jobs, with women representing an increasing share of the workforce.
The GCC-Stat reports highlight the sector’s broader economic and social impact, including fostering regional integration, supporting indirect industries such as transportation and infrastructure, and advancing environmental stewardship through protected areas covering nearly 19 percent of the region’s landmass.
Saudi AUM hits record $295bn, on track for $500bn by 2030: S&P Global
Updated 28 September 2025
Nirmal Narayanan
RIYADH: ’s asset management industry grew 12 percent annually from 2015 to 2024, with total assets reaching nearly $295 billion by the first quarter of 2025, according to S&P Global.
In its latest analysis, the credit rating agency noted that the Kingdom’s asset management sector is set to maintain its upward trajectory, supported by robust growth in local capital markets.
This momentum reflects a regional trend, with total assets under management across the Gulf Cooperation Council rising 9 percent to $2.2 trillion by the end of 2024, according to Boston Consulting Group.
BCG identified and the UAE as the main drivers of retail mutual fund growth, while Kuwait and Abu Dhabi’s sovereign wealth funds accounted for the largest share of regional assets.
Commenting on the latest report, S&P Global Ratings Credit Analyst Timucin Engin said: “We expect AUM (in ) will continue to increase at a healthy pace. This is due to ongoing regulatory efforts and continued growth in debt and equity markets, as well as the increasing availability of exchange-traded funds, real estate investment trusts, and other retail and institutional products.”
Key drivers of growth
According to S&P Global, Saudi regulators are working to boost the sector’s appeal among both local and global investors. Initiatives include expanding the institutional investor base, introducing new retail and institutional products, and strengthening domestic asset classes.
Authorities also aim to position the Kingdom as a hub for regional and global capital flows, attracting international fund managers and market institutions.
“The development of domestic capital markets forms an important part of ’s economic diversification. Their expansion could also contribute to the financing of Vision 2030,” said Benjamin Young, credit analyst at S&P Global.
The agency further noted that the rise of Saudi ETFs listed abroad should improve liquidity in secondary markets, as these instruments attract both institutional and retail investors internationally.
In July, ’s Capital Markets Authority published amendments to investment fund regulations to improve transparency, disclosure, risk management, and investor protection.
Among other changes, public funds are now able to invest in privately placed debt instruments, which could benefit the emerging private credit sector in the country.
In April, another report by Fitch Ratings said that ’s asset management industry grew by 20 percent year on year in 2024, pushing the sector’s total assets to SR1 trillion ($266 billion) for the first time.
Fitch added that the industry is expected to continue attracting steady inflows through 2025 and 2026, with assets under management projected to exceed SR1.3 trillion.
According to Fitch, key drivers of growth include a growing investor base, favorable demographics, ongoing economic reforms, strong capital markets, and digital transformation initiatives.
In its latest report, S&P Global said that ’s AUM will continue to increase at a healthy pace and has the potential to exceed $500 billion by year-end 2030, subject to market conditions.
“Our expectation is based on the assumption that AUM will continue to increase by 10 percent annually until 2030, compared with 12 percent over the past decade. The increasing issuance of debt and money market instruments will likely lead to a gradual increase in the proportion of fixed income instruments as an asset class,” said S&P Global.
It added: “While this is a high-level estimate, we note that sector growth also depends on market conditions and that actual growth could deviate from our expectations.”
Private vs public funds
S&P Global’s breakdown shows private funds account for roughly 50 percent ($148 billion) of total AUM, followed by discretionary mandates at $96 billion and public funds at $51.5 billion.
Real estate, a very popular asset class in the GCC, contributes almost 50 percent, or $72.2 billion, to Saudi private funds’ AUM, followed by equities.
As of March 31, 2025, equities accounted for about $47.4 billion, or 49 percent, of Saudi discretionary portfolio mandates’ total AUM.
In the discretionary mandates portfolio, public funds’ asset allocation is more balanced, with about 31 percent in money market instruments, 25 percent in equities, and 13 percent in debt instruments as of the same date.
The report added that public fund subscribers rose to nearly 1.6 million in March 2025, from about 265,000 in June 2013, with about one-third investing in real estate investment trusts.
Broader Impacts
A well-developed asset management industry could provide ’s young and growing population with access to more diversified savings and investment products, encouraging higher long-term saving rates.
“The development of capital markets is intended to form an important part of the country’s economic diversification, which, in turn, could reduce oil-related economic and fiscal volatility. Their expansion could also contribute to the financing of Vision 2030,” said S&P Global.
It added: “From a sovereign credit perspective, deep, diversified, and transparent domestic capital markets can provide multiple advantages. Ultimately, their sustainable development can provide an important source of financing for economic agents and facilitate effective monetary policy.”
S&P Global further said that the development of ’s capital markets through regulatory initiatives and improving market liquidity contributed to the Kingdom’s upgrade to ‘A+’ from ‘A’ in March 2025.
At the time, the credit rating agency noted that the ongoing social and economic transformation in the Kingdom can help boost activity in construction, logistics, manufacturing, and mining sectors, prompting GDP growth over 2025–2028.
Global context
Despite its rapid growth, ’s asset management sector is still in the early stages compared to global peers.
The report highlighted that Luxembourg, Singapore, and Ireland are established global fund domicile centers, while asset management expansion in other countries often stems from domestic factors.
It also noted that Ireland has emerged as Europe’s go-to ETF hub, currently accounting for about 70 percent of the EU’s AUM in ETFs.
“Similarly, Singapore has become a regional and global investment hub. Among other factors, it also offers strategic access to the Asian headquarters of many global financial institutions,” said Ivan Tan, credit analyst at S&P Global.
The scent of Vision 2030: Saudi oud’s journey to world markets
’s oud makers and exporters are expanding to keep up with rising global demand
Updated 27 September 2025
Reem Walid
RIYADH: While perfumes are gaining fresh attention across the Kingdom, oud remains the soul of the Gulf’s scent identity, deeply rooted in Saudi heritage and now poised for global growth.
’s oud and fragrance retail market is projected to see a 14 percent compound annual growth rate from 2024 to 2029, reaching approximately SR18.5 billion ($4.93 billion) by the end of the period, according to Euromonitor.
This growth will be driven largely by rising demand for premium oud-based perfumes, fueled by increasing consumer spending.
Euromonitor also showed that premium men’s fragrances, many of which feature oud, are expected to be the fastest-growing category, aligning with a regional shift toward greater male investment in personal care. Arabian Oud Co. led the market in 2024, holding a 9 percent retail value share.
Before exploring oud’s transformation, it’s worth stepping back to understand the shifting dynamics of fragrance demand in the Gulf Cooperation Council, and what gives the region its uniquely bold scent identity.
Changes in demand for luxury fragrances in the GCC in recent years
The Gulf Cooperation Council region has long stood apart as deeply sophisticated when it comes to fragrance.
“But what we are seeing today is a meaningful evolution, from passive consumption to informed appreciation,” Marco Parsiegla, CEO of Omani luxury fragrance brand Amouage told Arab News, adding: “Clients are no longer simply buying perfumes; they are seeking stories, origins, and a sense of intentionality in what they wear. It is a fact that fragrance here is not an accessory; it’s an extension of personal identity and cultural heritage.”
Founded in 1983, Amouage is a luxury fragrance house known for its rich, oud-infused scents that blend Middle Eastern tradition with modern perfumery — and it is widely available in through upscale retailers in cities like Riyadh and Jeddah.
To keep up with demand, Saudi oud exporters are also innovating in sustain-able sourcing.
Olivier de Cointet, senior adviser, consumer and retail at Arthur D Little
Parsiegla went on to underline that the market’s growing maturity allows brands like Amouage to prioritize depth over trends. He explained that demand has shifted toward richer concentrations and limited, long-lasting creations.
“Our Exceptional Extraits, Attars, and Essences collection continue to perform exceptionally well in the GCC precisely because they reflect these values: rarity, intricacy, and permanence,” the CEO said.
“For us at Amouage, this region is not a target market, it’s home. It’s where our roots lie and where our vision is constantly challenged and refined. As we continue to expand globally, the GCC remains integral to how we define the meaning of high perfumery in a world that increasingly values quality, craftsmanship, and richness of expression,” Parsiegla added.
GCC’s distinctive scent profile
Parsiegla explained that for centuries, the region has maintained a strong connection to scent — where elements like oud, musk, and frankincense were more than commodities; they were cherished. This enduring bond with natural ingredients has cultivated a bold and distinctive scent identity.
“Unlike markets where perfumery is more seasonal or trend-driven, the GCC has developed its own codes such as layering, incense (Bakhoor), and oud which have been passed on through generations. These are not habits; they’re traditions. And in that sense, the scent profile here reflects a lived aesthetic that values intensity, permanence, and resonance,” he said.
“At Amouage, we don’t approach this profile as outsiders. We were born into it. And what makes the GCC unique is not just the preference for bold or opulent compositions, but the discernment behind those preferences. There’s an expectation here that perfume should move you, intellectually, emotionally, even spiritually. That’s a high standard to meet, but also an inspiring one,” the CEO added.
Saudi artisans and the increasing global demand for oud
’s oud makers and exporters are expanding to keep up with rising global demand — estimated at $6 billion a year, according to newsletter Aramco World — while preserving their traditional craftsmanship.
According to Olivier de Cointet, senior adviser, consumer and retail at Arthur D Little, traditional extraction methods continue to be central to oud production, with a strong commitment to preserving the rich, complex scent — described as earthy, animalic, and leathery — that has made it a prized luxury ingredient among perfumers globally.
The govern-ment’s export promotion arm is likewise opening doors abroad through training, trade missions, and support programs.
Sundeep Khanna, partner, consumer and retail at Arthur D Little
“To keep up with demand, Saudi oud exporters are also innovating in sustainable sourcing. They have forged supply chains with Southeast Asian partners, and some major perfume houses invest directly in agarwood plantations abroad to secure high-quality supply. At home, new initiatives encourage cultivating Aquilaria trees on Saudi soil. For example, the project launched this year in Madinah to grow agarwood trees locally,” de Cointe said.
Vision 2030’s role transforming oud into a premium export
As part of Vision 2030, has identified fragrances — particularly oud — as a key non-oil export to support economic diversification and generate employment opportunities.
From ADL’s side, Sundeep Khanna, partner, consumer and retail, explained that government efforts are enabling local fragrance brands to grow internationally and highlight Saudi artistry. In 2024, for example, Al-Majed for Oud became one of the first Saudi perfume companies to announce a public listing.
is turning to cultivated trees and biotech solutions to safeguard supply. (AFP)
“The government’s export promotion arm is likewise opening doors abroad through training, trade missions, and support programs — part of a broader push that lifted Saudi non-oil exports to a record SR515 billion in 2024,” Khanna said.
He added that a critical driver is Vision 2030 tying cultural heritage to economic value, with programs such as “Year of Handicrafts 2025.”
Growth, sustainability of ’s oud industry
Sustainability is now central to oud’s future, and ADL’s de Cointet highlighted that with wild agarwood at risk, is turning to cultivated trees and biotech solutions to safeguard supply.
Government projects such as the Madinah farms aim to domesticate oud production, while global producers explore lab-grown methods to produce resin without harming natural forests.
“Looking ahead, collaborations with luxury brands are expected to further boost the Saudi oud industry’s visibility and sophistication. Saudi perfume houses increasingly work with renowned perfumers and luxury houses on exclusive editions and scent development,” he said.
Partnerships to boost oud value
Speaking on behalf of ADL, Khanna shed light on how is tapping into partnerships with leading global fragrance houses, like Penhaligon’s 2024 AlUla launch, to elevate oud’s value and reposition it as a contemporary economic asset.
“ is also forging direct collaborations and knowledge exchanges with luxury brands to enrich its local industry. The National Museum in Riyadh recently hosted ‘Perfumes of the East’ – an international exhibition, with France as a key partner, that immersed visitors in Arab perfume heritage and included workshops by perfumers like Christopher Sheldrake,” he said.
The ADL partner added that such events connect Saudi artisans with global experts, spurring innovation in blending traditional oud oil with modern techniques.
Startups secure new backing to accelerate growth, scale technologies
Updated 27 September 2025
Nour El-Shaeri
RIYADH: Startup funding activity across the Middle East and North Africa region continues to show resilience, with fintech and artificial intelligence-focused ventures drawing significant investor interest.
From early-stage rounds to global expansion plays, startups across , the UAE, Jordan, and Tunisia have secured new backing to accelerate growth, scale technologies, and strengthen digital infrastructure.
-based fintech startup erad has secured $33 million in debt financing, marking Indian venture debt firm Stride Ventures’ first investment in the Kingdom.
The transaction, closed during Money20/20 Riyadh, included participation from other undisclosed investors.
Founded in 2022 by Salem Abu-Hammour, Faris Yaghmour, Abdulmalik Al-Meheini, and Youssef Said, erad offers Shariah-compliant, data-driven financing solutions to micro, small and medium-sized enterprises in and the UAE.
The company claims to enable funding access within 48 hours. The new capital will be used to scale its platform and expand operations across both markets, with a focus on the retail, food and beverage, healthcare, and e-commerce sectors.
This latest round follows a $16 million pre-series A funding round which closed in April 2024 with backing from Y Combinator, Nuwa Capital, and others.
Stride Ventures plans $200m deployment in
Stride Ventures has also announced plans to deploy $200 million in over the next two years, signaling a significant push into the Gulf region’s evolving financing landscape.
The firm is targeting a diverse range of companies across sectors and sizes, aligning with ’s economic diversification goals.
Additionally, Stride aims to invest $50 million into the UAE’s private credit market and has committed $500 million for broader Gulf investments over the next four years.
Tunisia’s ANAVA commits $4m to Rasmal Innovation Fund I
Tunisia’s ANAVA Fund of Funds has committed $4 million to Qatar-based Rasmal Innovation Fund I, a vehicle supported by the Qatar Investment Authority’s $1 billion initiative.
The commitment aims to increase global venture capital access for Tunisian startups and strengthen links across the Middle East and North Africa startup ecosystems.
Rasmal Innovation Fund I targets $100 million in capital to invest in seed to series B-stage startups across fintech, B2B SaaS, healthtech, and logistics.
ANAVA, which is backed by the World Bank, KfW, and CDC, continues to deploy a fund-of-funds model to attract international fund managers and develop the local innovation economy.
Presight and Shorooq launch $100m A innovation fund
Presight, an AI-focused subsidiary of Abu Dhabi’s G42, has partnered with venture capital firm Shorooq Partners to launch a $100 million global innovation fund targeting AI ventures.
Presight–Shorooq Fund I will invest in early to growth-stage startups in AI, machine learning, and smart cities, as well as energy, fintech, augmented and virtual reality, Industry 4.0, and deep tech.
Presight–Shorooq Fund I will invest in early to growth-stage startups in AI, machine learning, and smart citie. (Supplied)
In addition to capital, the fund offers access to Presight and G42’s GPU infrastructure, secure data environments, and distribution channels.
The initiative seeks to position Abu Dhabi as a global hub for scalable and transformative AI solutions by pairing Presight’s technological capabilities with Shorooq’s investment expertise.
PayPal to invest $100m in Middle East and Africa
US-based digital payments company PayPal has announced plans to invest $100 million across the Middle East and Africa through a combination of minority investments, acquisitions, PayPal Ventures funding, and technology deployment.
The investment follows the recent opening of PayPal’s regional hub in the UAE, which aims to enhance digital commerce through improved payments, security, and international market access.
The initiative will build on PayPal Ventures’ previous investments in startups including Tabby, Paymob, and Stitch, and is positioned to help scale digital infrastructure while supporting regional entrepreneurs and small businesses.
Saudi fintech Bynow raises $1.2m from Merak Capital
Riyadh-based B2B fintech startup Bynow has secured $1.2 million in funding from Merak Capital to accelerate product development and support regional expansion.
Founded in 2022 by Rami Suliman and Ahmed Banafa, Bynow provides buy now, pay later solutions tailored for businesses, with a particular focus on small and medium-sized enterprises.
Founded in 2022 by Rami Suliman and Ahmed Banafa, Bynow provides buy now, pay later solutions tailored for businesses. (Supplied)
The company is developing tools to automate accounts receivable and payable processes.
The funding aligns with broader efforts under Vision 2030 to digitize financial services and enhance cash flow management across the SME sector.
Bwatech secures $16m to expand fintech services in
-based fintech Bwatech has raised $16 million in a funding round led by Sharaka Financial to fuel growth and deepen its presence in the Kingdom’s evolving digital finance sector.
Founded in 2020 by Rasha Al-Oraini and Hashem Al-Hekail, Bwatech offers a digital platform providing bank guarantees, account management, and open banking services accessible via web, mobile, and APIs.
Operating under the Saudi Central Bank’s regulatory sandbox, Bwatech aims to bolster corporate financial efficiency and contribute to the Kingdom’s broader digital infrastructure.
MoneyMoon raises $2.9m to scale P2P lending platform
Peer-to-peer lending platform MoneyMoon has raised $2.9 million in a pre-series A round led by Core Vision, with participation from family offices and angel investors.
The Saudi fintech startup will use the funds to enhance its technology stack and broaden access to Shariah-compliant short-term financing.
Founded in 2023 by Abdulmajeed Al-Askar, MoneyMoon operates under the Saudi Central Bank’s sandbox and offers Murabaha-based financing options.
The company’s mission is to advance financial inclusion and support innovation in line with Vision 2030 objectives.
Sindbad Tech raises $4.8m seed round to scale fintech offerings
Saudi fintech firm Sindbad Tech raised $4.8 million in seed funding during Money20/20 Middle East, with the round led by Alkhabeer Capital.
The funding will support the company’s expansion and continued development of financial solutions.
Founded in 2013 by Abdulaziz Al-Sultan, Mohammed Agbawi, and Ziad Aqbawi, Sindbad Tech evolved from a research initiative into a full-fledged fintech platform.
The company aims to improve transactional efficiency and contribute to ’s innovation and digital transformation agenda.
Jordan’s MADA secures $1.55m in pre-seed funding
Jordanian fintech MADA has raised $1.55 million in a pre-seed round led by Vision Ventures, with additional investment from D-Investments.
The company plans to use the funding to advance its platform and prepare for regional expansion.
Founded in 2018 by Mohammad Merie and Issa Ramadan, MADA offers buy now, pay later solutions and operates under the Central Bank of Jordan’s regulatory sandbox.
The startup seeks to offer flexible financing options while promoting financial inclusion and enhancing consumer access to digital credit products.
