Abyan Capital Raises $18M for Saudi Arabia's AI-Powered Robo-Advisory Firm
Abyan Capital, a financial robo-advisory firm based in Saudi Arabia, raised $18 million in funding from investors including STV, Wa’ed Ventures, and RZM Investment.
Founded in 2022 by Abdullah Al-Jeraiwi, Omar Al-Mania, and Saleh Al-Aqeel, Abyan Capital uses AI and machine learning algorithms to automate investment processes and provide portfolio management for long-term investments.
The company aims to tap into the SR300 billion ($80 billion) investment management and wealth advisory sector in Saudi Arabia, making investment services accessible to a wider audience through its mobile-first robo-advisory model.
(111 words) Abyan, a wealth management company, has quickly grown to enable first-time investors to access various solutions, thanks to its innovative and inclusive approach.
The company has recently secured funding, which it plans to use to improve its platform, expand financial products, and increase market penetration.
Abyan has already surpassed SR1.4 billion in deposits and over 100,000 portfolios invested, and will soon launch new diversified products to become a leading digital retail investment house.
Al-Turki, an investor, expressed excitement about partnering with Abyan to redefine the wealth management ecosystem in the Kingdom.