Raqamyah operates under the Saudi Arabian Monetary Authority (SAMA) Sandbox and uses technology to directly match small businesses with lenders. Founded in 2019, the platform introduced an automatic lending feature allowing lenders to set automated investment options based on their criteria. Impact46 reported the company has been growing at a monthly double-digit rate and completed more than forty fully funded loans in one year. Raqamyah recently raised $2.3 million in an investment round to support its next phase. The company plans to heavily invest in technology and talent, innovate credit assessment techniques, expand its loan product offering to SMEs, and facilitate easier access to alternative investment opportunities for investors. Funds will also be used to help Raqamyah meet SAMA's full license requirements.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2021