Saudi fintech Malaa Technologies raises $1.7m in seed round
Summary
The startup recently obtained a permit from the Saudi Central Bank that would allow it “to operate open banking activities” to help users make better financial decisions through big data and artificial intelligence. Open banking is a practice that provides third-party service providers open access to consumer banking, transaction, and other data from banks and nonbank financial institutions. Founded in 2020, the startup will use the funds to further expand its market reach.
Funding
Amount
$1.7M
Total raised
Date
March 16, 2022
Announcement date
Investors
-
Lead investors
Company
https://www.malaa.tech
Funded company
Classifications
industries
Fintech & Banking
applications
No applications detected
AskAI Classifications
Labels
No AI classifications detected