Saudi Arabia-based fintech company Amwal Tech closes its $4M seed funding round.

Amwal Tech specializes in providing payment and installment solutions for e-commerce in the Kingdom of Saudi Arabia.

Founded in 2022 the company is working on establishing the first installment gateway in the region in cooperation with a consortium of local banks.

Amwal Tech Portal works through biometric authentication technology (fingerprint), and the portal allows banks to provide instant financing to customers upon completion of the purchase process, which simplifies payment procedures and enhances the level of security.

This funding will contribute to supporting Amwal Tech to develop its advanced technologies and expand its network of partners.