Abyan Capital Closes a 68 Million SAR Investment Round
Abyan Capital Secures Backing Led by STV, with Participation from Wa'ed Ventures, and RZM Investments
Abyan Capital, a specialized automated investment firm based in Saudi Arabia, has announced the successful closure of its Series A funding round, raising a total of 68 million Saudi riyals, equivalent to approximately 18 million US dollars. This investment round was spearheaded by STV, with the participation of Wa’ed Ventures, a subsidiary of Aramco, and RZM Investments.
Established in August 2022, Abyan Capital focuses on providing investment and savings solutions tailored for individuals. The company emphasizes the user-friendliness of its applications, ensuring compliance with Islamic Sharia principles. Through its platform, users can efficiently manage their investments across a diverse range of asset classes, enabling them to achieve their financial objectives.
Abdullah Al Jreawi, Co-founder and CEO of Abyan Capital, expressed his pride in the company’s achievements, stating, “Our journey began with the aim of enhancing asset management services for individuals in the Kingdom, in alignment with the objectives of the financial sector development program. Today, we are proud to have exceeded 1.4 billion Saudi riyals in client investments, with over 300,000 users.” He further added, “We plan to introduce new and diverse investment products in the coming period to further solidify Abyan’s position as a leading provider of investment solutions for individuals.”
Saleh Al Aqeel, Co-founder of Abyan Capital, highlighted the significant potential of modern investment practices in Saudi Arabia, stating, “This funding round underscores our unique capabilities in offering a wide range of investment products tailored for individuals, including children’s portfolios, high-yield savings portfolios, and periodic investments. Our journey serves as evidence of the robust technological infrastructure in the Kingdom, with over 4 million trading operations executed for our clients and over 600,000 profit distribution operations since our inception.”
Yazeed Al Turki, Head of Investments at STV, commended Abyan Capital for its ability to empower new investors through its automated advisory model, stating, “We are pleased to announce our partnership with Abdullah, Saleh, and the Abyan team to achieve our shared objectives in digitizing wealth management in the Kingdom.”
Similarly, Fahad Al Eid, Managing Director of Wa’ed Ventures, underscored the fund’s commitment to supporting rapidly growing companies and contributing to financial inclusion in the region. He stated, “We take pride in joining forces with entrepreneurs Abdullah Al Jreawi and Saleh Al Aqeel in expanding investment and savings opportunities for individual investors.”
Abdullah Tareq Al Qasabi, CEO of RZM Investments, pointed out Abyan Capital’s advanced financial technology and innovative investment products that meet current and future market demands, affirming that they align with his company’s philosophy.
Finally, Abyan Capital stated that the proceeds from the investment would be utilized to enhance its application services and launch new investment products targeting a wider range of customers, with the aim of accelerating its growth and strengthening its market presence.
