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Saudi fintech start-up Tameed raises $15m Series A

January 8, 2024

Saudi Arabian fintech start-up Tameed secures $15 million in Series A funding led by Al-Romaih Investments.
Tameed plans to use the funds to support its growth and meet the rising demand for its digital lending products.
Headquartered in Riyadh, Tameed has distributed $106.6 million in Shariah-compliant government purchase order financing to SMEs since its 2019 inception.
The Series A round follows the granting of an operating license by the Saudi Central Bank (SAMA), after initially operating in SAMA’s FinTech Sandbox.
Co-founder Mohammed Al Alshaikh emphasizes the new funding will help Tameed serve investors and SMEs, as well as enhance its product offerings.
Recent platform expansions include the introduction of “smart” loyalty features with Moneythor and the launch of an auto-invest product.
Tameed now provides performance bond financing for projects, aiming to cater to a broader spectrum of SMEs and contribute to the Kingdom’s economic growth.