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Abwab.ai secures 15M riyals for SME AI finance
Abwab.ai, a Saudi company specializing in financing small and medium-sized enterprises using artificial intelligence, has closed an initial funding round of 15 million Saudi riyals (approximately 4 million dollars). The round was led by the European company Speedinvest and participated in by Middle East Venture Partners (MEVP). The company aims to expand its technological solutions and develop its credit infrastructure, supporting more than 13 financial institutions and reviewing financing operations worth over one billion riyals. This funding round comes amid the growth of the SME financing market in Saudi Arabia, which had a lending volume of about 489 billion riyals in the first quarter of 2026, with an annual growth rate of 28%. Abwab.ai seeks to utilize the funding to eliminate manual processes, improve data-driven credit decisions, and expand its services in the Saudi market.
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