Startups are significantly bolstering Saudi Arabia’s economy by creating numerous job opportunities and attracting foreign investors. This article highlights some of the most prominent Saudi startups and their services.
1. Tamara
Founded in 2020, Tamara is a Saudi payment company offering Sharia-compliant financial solutions. It has seen substantial growth in the payment sector, providing installment payment options like:
- Two payments (one at purchase, another after a month)
- Three payments (one at purchase, the rest over two months)
- Four payments (one at purchase, the rest over three months)
Tamara collaborates with 26,000 brands and numerous online stores, offering discounts and vouchers. The company has raised $400 million in funding and operates offices in Saudi Arabia, UAE, and Germany.
2. Zid
Established in 2017, Zid aids merchants in digital transformation, supporting over 8,000 online stores across 22 sectors. Zid offers:
- Professional online stores and carefully designed brands
- Shipping services to over 30 countries
- Merchant training in marketing and advertising
- Networking events to share retail experiences
Zid also provides tools like Zid Market, Zid Pay, and Zid Ship to enhance e-commerce efficiency.
3. Nana
Launched in 2016, Nana specializes in grocery deliveries across 14 Saudi cities through its app. Nana has secured $133 million in funding and offers 40,000 high-quality products, employing over 600 people.
4. Tweeq
Founded in 2020, Tweeq is a financial services startup under the Saudi Central Bank’s supervision. Its app facilitates money transfers and online payments, offering features like budget management and an EDGE bank card with cashback and discounts.
5. Lucidya
Lucidya, established in 2016, focuses on customer service using advanced data analytics and AI. The company raised $6 million in 2022 and provides solutions for various sectors like telecom, healthcare, and tourism.
6. Salla
Since 2016, Salla has been enabling e-commerce by offering store creation, marketing tools, and payment gateways. It provides various pricing plans, including a free option, and features like app design and secure payment methods.
7. Lendo
Founded in 2019, Lendo offers Sharia-compliant crowdfunding for SMEs. It has raised $28 million and provides invoice financing, SME financing, and film sector financing, promising quick funding and investment returns.
8. Gathern
Gathern, established in 2017, offers holiday rentals like chalets and villas. Licensed by the Ministry of Tourism, it has raised over $6 million and provides various rental options, including campsites in several Saudi cities.
9. Soum
Founded in 2021, Soum is an e-commerce platform for buying and selling used electronics, furniture, and cars. It ensures product accuracy and offers various payment methods, including installments through Tamara.
10. Sary
Since 2018, Sary has connected small businesses with wholesalers, offering over 30,000 products. The company has raised $112 million and provides quick delivery and diverse payment options.
11. ithnain
Launched in 2022, ithnain offers a health app for diabetes management, providing personalized plans created by nutritionists and pharmacists. The app covers all aspects of a patient’s life, focusing on health, diet, and mental well-being.
12. NearPay
Founded in 2020, NearPay specializes in digital payment solutions, raising over $3.6 million. It offers secure payment methods like NFC through its softPOS devices and applications.
In summary, these Saudi startups are primarily focused on digital solutions in finance and e-commerce, indicating a strong technical trend that is likely to continue.
