Tech Company Financing Transactions
Malaa Funding Round
On 9/3/2024, Malaa raised $17.3 million in Series A investment from Saudi National Bank (SNB), Derayah VC and Impact46.
Transaction Overview
Company Name
Announced On
9/3/2024
Transaction Type
Venture Equity
Amount
$17,300,000
Round
Series A
Investors
Proceeds Purpose
This round will allow us to enhance and bolster the readiness of our compliance, governance, and cybersecurity systems, which have become critically important to ensure service stability, protect customer data, and combat fraud.
Company Information
Company Status
Private & Independent
Industry
FinTech
Mailing Address
King Abdullah Financial District (KAFD), Building 5.07
Riyadh, 13519
Saudi Arabia
Riyadh, 13519
Saudi Arabia
Phone
Undisclosed
Website
Email Address
Overview
Mala'a is a suite of financial technology products that contribute to the National Savings Strategy. Mala'a is the leading wealth management tool in the Kingdom, addressing the gap in financial product offerings and promoting the adoption of advanced technology by providing data-driven financial products and services that empower individuals and institutions. Established in November 2021, Mala'a aims to be a starting point for financial decision-making, whether it is for saving, lending or investing.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Ali Al-Arini
Co-Founder
Faisal Al-Qarni
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We do our best to report on tech company VC transactions. VC investment data records reported here are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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