Raed Ventures Leads $35m Series A for Saudi Savings App Rize
Raed Ventures led a $35m Series A round in Rize as the Saudi personal-finance startup looks to scale its savings and investing products for consumers in the Kingdom.
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Raed Ventures said it had led a $35m Series A round in Rize, a Saudi personal-finance app that helps users save and invest. The financing is among the larger early-stage consumer-fintech rounds in the Kingdom.
Rize said it would use the capital to expand its product suite and grow its user base as demand for digital savings tools rises in Saudi Arabia. Raed Ventures has been among the most active backers of Saudi fintech and enterprise-software founders.