Saudi Ta3meed Raises $15 Million in Series A Funding
The funding round was led by Al-Rumaih Group.
By Inc.Arabia Staff
Saudi Arabia's debt-based crowd-financing platform Ta3meed closed a $15 million Series A round, led by Al-Rumaih Group.[1]
Ta3meed, a Shariah-compliant crowd-financing platform that specializes in financing purchase orders licensed by the Saudi Central Bank (SAMA), will use the funds to meet the demand for project financing and purchase orders. Ta3meed supports small- and medium-sized enterprises (SMEs) that have government purchase orders, providing them with a flexible crowd-financing structure to help them deliver government purchase orders.
Founded in 2019, Ta3meed has provided $100 million worth of Shariah-compliant financing to-date.
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