3.3 billion dollars the value of investments in startups in Saudi Arabia

According to Nabil Kushk, CEO of the Saudi Bold Investment Company, the value of the capital invested in Startups in the Kingdom of Saudi Arabia amounted to 3.3 billion dollars. Kushk added during a dialogue session at the Special Meeting of the World Economic Forum held in Riyadh that the value of the capital investing in emerging businesses in the field of technology in Saudi Arabia amounted to $ 1.4 billion in 2023, compared to about $ 65 million in 2018, which means it increased 21 times in five years. Government incentives pay the funding of Saudi emerging businesses in the Kingdom of Saudi Arabia, and Startups in the Kingdom of Saudi Arabia have managed to avoid the slowdown in similar companies in the world during the same period, as more than half of sector’s funds in the mid -East and North Africa are raised. register. Kushk, financial technology businesses, pointed out that “we saw that two Saudi businesses in the field of financial technology have reached the uninterrupted stage, with the support of major investors in the world, considered a major shift.” Also read: “Saudi Tamara” supported by “Goldman Sachs”, The Unionon Club, entered the Saudi financial technology business “Tamara” in December, backed by the Goldman Sachs Group Dollar). In November, Saudi -based Taby raised $ 200 million in a financing round, estimating the value of the company that a system ‘now’ buy and pay ‘on more than $ 1.5 billion.