• Saudi Arabia-based Sindbad Tech has raised $4.8 million in seed funding led by Alkhabeer Capital during Money20/20 Middle East.
• Founded in 2013 by Abdulaziz Alsultan, Mohammed Agbawi and Ziad Aqbawi, the company has evolved from a research project to a fintech provider delivering investment and financial solutions.
• The funds will be used to expand product offerings, develop advanced technologies to enhance transaction efficiency, and support Vision 2030 goals of innovation and digital transformation.

Press release:

Sindbad Tech, a Saudi fintech company, has closed its SAR18 million ($4.8 million) seed round, led by Alkhabeer Capital, on the sidelines of Money20/20 Middle East.

The funding will support Sindbad Tech’s plans to scale its innovative fintech solutions, develop advanced technologies that enhance transaction efficiency, and serve both individuals and enterprises.

This round underscores investor confidence in autonomous finance and its role in developing the Kingdom’s digital financial infrastructure. The move aligns with Saudi Vision 2030 objectives to drive innovation, accelerate digital transformation, and position the Kingdom as a leading regional fintech hub.

Founded in 2013 as a research project exploring financial market movements through traditional indicators and mathematical models, Sindbad Tech has evolved into a fintech company focused on developing cutting-edge investment solutions.