Lead by Core Vision Investments, Rakeez Capital, a debt and investment instrument specialist, is pleased to announce the completion of a $2 million seed round.
Rakeez Capital, which was established in 2023 following approval by the Financial Market Authority, offers a range of financing choices to investors and businesses. Through the issuance of Sukuk, the company can finance businesses and real estate developers. Known for their flexibility in comparison to traditional banking finance, sukuk instruments are widely used as financing tools. With more advantageous contractual terms, these instruments can be issued in a variety of formats and tenors.
Rakeez Capital’s CEO and co-founder, Saeed Al-Ahmari, expressed gratitude to Core Vision Investment for spearheading the deal. Through its support of business growth and financial inclusion initiatives, Rakeez Capital has played a major role in advancing the financial sector’s development, which is one of Saudi Vision 2030’s main objectives. In addition to advancing cutting-edge artificial intelligence technologies to grow our clientele and investigate new market opportunities, these investments will significantly improve our capacity to create and provide our clients with creative and dependable financial solutions.
Here, Mr. Faisal Al-Abdulsalam, CEO of Core Vision Investment, further stated that the conclusion of the opportunity study and the closing of the entire round demonstrate their conviction regarding the significance of the Sukuk and bond markets. As of the end of the third quarter of 2023, the total market size was estimated to be 534.72 billion Saudi Riyals, representing a 5% growth rate from the previous quarter’s end of 511.25 billion Saudi Riyals. In addition, he emphasized Rakeez Capital’s unique selling points, which are their proficiency with the business model and their capacity to transform established financial institutions.
In his closing remarks, he emphasized the significance of luring investment opportunities that promote fortifying the current and building the future with cutting-edge technologies and genuine investment in order to create sustainable economic foundations and improve digital infrastructure.
