💸 Here’s Abyan Capital! A startup based in Saudi Arabia, Abyan Capital provides robo-advisory services to streamline long-term investment management in the region.
And they’ve just announced the closure of an $18 million Series A funding round!
💰 Investor lowdown: The investment round was led by STV with participation from Wa'ed Ventures and RZM Investment.
⚙️ Why? Long-term investment planning is crucial yet complex, particularly in emerging markets like Saudi Arabia where financial literacy levels vary significantly.
A survey by S&P Global highlighted that less than 30% of adults in the Middle East are financially literate.
This gap often hinders individuals from effectively managing and growing their wealth.
🤖 How does it work? Abyan Capital simplifies investing through its automated robo-advisory platform, designed to make the process intuitive and accessible.
The platform offers tailored investment advice based on users' specific financial goals and risk tolerance.
By automating investment allocation and continuously adjusting to market conditions, Abyan Capital enables individuals to build and manage their wealth efficiently.
📊 What? According to their website, they currently offer three different investment portfolios:
📚 What is a Sukuk?
A sukuk is an Islamic financial certificate, akin to a bond but compliant with Sharia law. Instead of representing debt, a sukuk grants the holder a share in an asset, complete with cash flows and risk sharing, aligning with Islamic principles that prohibit interest.
🔮 Flashforward
Abyan plans use the fresh funds to enhance its platform’s capabilities, expand its financial product offerings, and deepen its market penetration.