Saudi fintech startup Wadaie has announced the successful closing of its Seed funding round, led by VentureSouq, with participation from Graphene Ventures, RZM Investment, as well as Arab National Bank and Alinma Bank.

The newly secured funds will be strategically allocated to strengthen regulatory compliance and advanced cybersecurity practices, expand the company’s technical infrastructure, broaden its product portfolio, and enhance customer experience.

Founded in 2022, Wadaie offers a seamless savings and investment journey that is both simple and Shariah-compliant, enabling individuals to access deposit returns through a unified platform. Additionally, the company empowers businesses to optimize treasury and liquidity management with efficient and secure financial tools.

Through strategic partnerships with major Saudi banks, Wadaie has created new access channels for financial institutions to tap into diverse customer segments and new markets, while simultaneously diversifying liquidity sources.