Financing of Saudi -Startups is a candidate to perform at 2023 levels

It began in a strong way in 2024 for the scene of funding of Startups in Saudi Arabia, which increased the possibility that these funds reached last year’s rates, which amounted to $ 1.38 billion, and were the highest in the region, supported by launching programs and funds to support these companies with a total of 1.5 billion. During the month of March, the value of the financing agreements for Startups in the Kingdom amounted to approximately $ 200 million, including about $ 165 million, announced at the “Lep 24” technology conference in Riyadh, according to the data monitored by “Al Sharq”. These funds were distributed to various sectors, including E -commerce and financial technology, to the solutions of the delivery of requests and the sports sector, and the ‘basket’ electronic trading enterprise won most of these funds worth $ 129 million. These amounts form a large leap compared to the financing of the past two months, as the number of funds in January amounted to approximately $ 11 million, which was raised slightly to 16.3 million dollars in February, according to reports of “Wamda Capital” following the start and bold capital in the region. Without the first quarter in 2023 despite this movement in the past three months, these funds are still less than those in the first quarter of last year in the kingdom, which amounts to $ 359 million, according to the “Magnit” report. The CEO of “Magnet”, Philip Bhashi, in a statement to “Al Sharq” indicated that “Saudi Arabia was one of the few countries that was an annual growth in daring capital funds in the Middle East and North Africa during the year 2023.” At the same time that 64% of total financing was 4 major transactions last year, the amount of financing of more than $ 100 million each, led by “Tamara” and “TABY”. Also read: “Lips 2024” Saudi Arabia awaits initial investments of $ 11.9 billion. As for this year, and despite the continued challenges imposed on the global and regional financing market in 2023, the strength of the Saudi artup work system has improved its strength, “according to Bahishi. Categories “and” B+”The advanced companies will make the financing of the two categories” and “” B+”The advanced starting companies will reach the round of the two categories,” a “and” “B+” And to improve the domestic product, in line with the vision, and that is to diversify the economy. During the “Lepe 24”, Saudi Arabia launched a package of programs with a total investment of about $ 600 million, with the aim of supporting companies that work mainly in the technological sector, mainly financing and commercial. Also read: Financing is not a single concern for the development of Saudi artuPs, in addition to the programs, the month of March was only witness to the launch of many funds aimed at supporting the financing of these businesses, and their value has combined more than $ 890 million, led by ‘Infecorp’, which announced a new fund to support with the growths with the growths with the growth of $ 500 million and ‘GV capital’ Saudi innovation. Smart opportunities and big gap, Mohamed Al -Omar, chairman of the board of directors of “councils” for investment, indicate that there is an active investment movement at the level of Saudi artups in a number of sectors. In an interview with ‘Al -Sharq’, he added that ‘the number of small and micro businesses in the kingdom is large, and we have many companies and opportunities offered’, which are ‘smart opportunities that keep up with the Kingdom’s Vision 2030’. Al -Oomar pointed out that ‘councils’ have concluded between 4 to 5 financing agreements for startups annually, paying attention to the presence of promising sectors such as financial technology, whose number of companies in Saudi Arabia has reached about 200, while the target is by 2030,500, which means there is a large gap that is entrepreneurial and investment entities with a fat capital. Also read: Government incentives pay the financing of Saudi emerging businesses recently allocated to emerging businesses through funds and programs, which are approximately 1.5 billion dollars, in addition to the availability and diversity of opportunities in the largest economy in the region, as well as the government’s interest to develop the volume of the The year can overcome. 1.38 billion, which mostly came in the last months of 2023, and focused on “Tamara” and “Tabi” offers for electronic payments, “coin” to deliver the groceries, and “Ford” for digital shopping.