To support Saudi expansion, Khazna secures $16 M prior to Series B funding round

A $16 million pre-Series B funding round has been closed by Khazna, a leading financial super app that provides underserved segments with technology-driven, user-friendly financial services. SANAD Fund for MSME, anb Seed Fund (run by anb Capital), Khwarizmi Ventures, Aljazira Capital (the investment arm of Bank Aljazira of Saudi Arabia), Nclude (the fintech fund established by Egypt’s largest national banks), ICU Ventures, Quona, Speedinvest, and Disruptech Ventures were among the new and existing investors who participated in the round.

Investor confidence in Khazna’s top-tier team, creative business plan, and enormous potential to revolutionize the digital banking sector in the region is demonstrated by this funding round. The company is prepared to advance its expansion into the Saudi Arabian market and apply for a digital banking license in Egypt with this fresh round of funding. The Kingdom has witnessed tremendous growth in its digital economy and has drawn leading financial technology innovators under Saudi Vision 2030. In order to guarantee a customized strategy that satisfies the unique requirements of its target user base, Khazna’s expansion into Saudi Arabia will entail strategic partnerships.

Omar Saleh, CEO of Khazna, stated, “Closing this funding round is a pivotal achievement for Khazna’s team. This not only propels our core business but also empowers us to accelerate our mission of advancing financial inclusion across the MENA region. Khazna’s entry into Saudi Arabia marks the beginning of a new chapter. and we are committed to delivering an unparalleled digital user experience across the region.”