Wadie is a fintech company based in Saudi Arabia that has completed a successful round of pre-seed funding. The round of funding process has been directed by some well-known investing companies such as Bunat Ventures, alongside RZM Investments and other large investors based in the Kingdom of Saudi Arabia.

Although the company has not placed any statement on the disclosure of the raised amount till now.

The Saudi-based company, Wadaie started its journey recently in the year 2022 led by Abdullah Alandas, the CEO, and founder of the company with the cooperation of Abdulrahman Alhawas, and Rayan Altuwayjiri. Wadaie is a fintech company that offers a designed platform with a target to connect directly to banks by depositors. The company intends to help the depositors to enable the source to earn returns on  Shariah-compliant time deposits without any need of opening a new bank account in some other banks.

The pre-seed funding round was completed with the aim to help the company grow and speed up the development of many unique financial technologies in the upcoming days. This funding will also help the fintech company, Wadaie to expand on their products, selective categories, and a strong customer success operation base in the banking sectors. 

The company particularly aims to expand on its base and introduce some new products in the field of savings and investment, enhance the maximum trust, and easier accessibility for the customers.

The company is designed in a way to provide an overall unique, reasonable, and convenient banking experience to the customers.

Wadaie fintech company is not only formed to help out and provide valuable benefits to the depositors or individuals but it will also take measures to set some worthy services for banks.

Wandaie will help the banking sectors to cover a larger market range and spread their client base in an expandable reach. Alongside the banks will be allowed to access various liquidity sources, and that is also without exceeding the budget of operational infrastructure costing.

Mr. Abdullah Alandas, who is the founder and CEO of the fintech company, Wadaie has given a confirmation saying that the business model of the company internally alines with the strategically static goals of the Financial Sector Development Program, which aims to provide a variegated, worthy, and effective financial sector which will help to contribute and support the economical development group of Saudi Arabia. 

Financial technology, which is also known as “Fintech” allows customers to get familiar with new technologies that will eventually improve and automate unique functions to accelerate the maximum usage of financial services. The fintech companies are utilized to help business owners, organizations, and consumers to get better utilization and grip on their financial operations, investments, and processes.

Additionally, the investment of the fund by renowned investors will boost the marketing outreach of the company and help the organization gain remarkable recognition in the fintech industry globally.