Rakeez Capital, established in 2023 following approval by the Financial Market Authority, issues sukuk and other debt and investment instruments to finance businesses and real estate developers. The company offers a range of financing choices to investors and businesses and positions sukuk as a flexible alternative to traditional bank finance, with various formats and tenors. Rakeez highlights its role in supporting business growth and financial inclusion initiatives tied to Saudi Vision 2030. Management says the seed proceeds will be used to advance artificial intelligence technologies to grow its clientele and explore new market opportunities. The firm emphasizes its ability to provide creative and dependable financial solutions and to transform established financial institutions. The article cites the sukuk and bond market size at 534.72 billion Saudi Riyals as of Q3 2023, a 5% increase from the prior quarter, which management views as validation of the market opportunity. Rakeez recently closed a $2 million seed round led by Core Vision Investments.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2024