Saudi fintech platform Hakbah secures $5.1 million funding for expansion

Proceeds to accelerate growth and product development after a 4x revenue yearly increase

Last updated: December 20, 2023 | 14:30

Dhanusha Gokulan

2 MIN READ

Hakbah has a customer base of 500,000 users, of which 70% are between 21-35 years old.

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Expansion plans

"Our mission is to double the individuals' savings ratio in Saudi Arabia by 2025," said Naif AbuSaida, Founder of Hakbah.

Musaab Hakami, General Partner - Fintech of VentureSouq, said, “Hakbah has a truly innovative product, a compelling market, and a track record of delivering on its growth promises. We look forward to supporting the company’s continued scaling.”

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