We are co-leading Abyan Capital's $18 million Series A funding round. As Saudi Arabia's leading robo-advisory and savings app, Abyan is revolutionizing the investment landscape for both retail and accredited investors with the approval of the Saudi Capital Market Authority.
In rapidly evolving local capital markets, a significant portion of savers, lacking robust investment expertise, need access to appropriate and streamlined investment and savings solutions. While traditional wealth management services cater to high-net-worth individuals and corporate clients, retail investors have been left behind, needing more tools and seamless access to crucial market segments like money markets, Sukuk, or global Sharia-compliant equities.
Abyan has successfully launched Saudi Arabia's leading mobile-first, robo-advisory application, offering an effortless onboarding process, personalized portfolio allocation, and a seamless deposit and withdrawal experience. Since its launch in August 2022, Abyan has introduced various features and updates to enhance its platform.
The asset management and brokerage market in Saudi Arabia, currently managing SAR 300 billion, is marred by limited accessibility for retail investors and the provision of substandard and expensive products. The robo-advisory model has demonstrated its effectiveness in enabling a broader audience of savers and investors to access suitable portfolios, thereby increasing the penetration of passive investment strategies.
What sets Abyan apart is not only the laser focus on user experience and deep understanding of financial markets but also the team’s exceptional execution capabilities and ability to rapidly innovate and adapt to evolving user demands. Launching the first robo-advisor in the KSA market back in August 2022, Abyan, in less than two years, facilitated investment for 100,000 portfolios, managing over SAR 1.2 billion in deposits across various asset classes.
Leading the charge in the new era of savings and wealth advisory in Saudi Arabia, we are eagerly partnering with Abyan’s Founders, Abdullah Aljeraiwi and Saleh Alaqeel, on their mission to open up investment opportunities for all. We are excited to co-lead this funding round alongside Wa'ed Ventures, the VC arm of Saudi Aramco, with the participation of RZM Investment, which led the company’s seed investment round.
For those eager to explore the future of wealth advisory, download the app here. If you are a talented individual looking to make an impact in the fintech sector, consider joining Abyan's dynamic team apply here.