Mohtwize receives $507,000 capital investment from Wa’ed

Mohtwize receives $507,000 capital investment from Wa’ed

Riyadh-based podcast platform Mohtwize has received $507,000 (SAR1.9 million) venture capital investment from Wa'ed, the entrepreneurship arm of Aramco.

Founded in 2018 by a Saudi podcaster, Khaled Alkenaa, Mohtwize is an advertising-driven podcasting platform that matches content creators with corporate sponsors to monetise the podcasting business in Saudi Arabia.

Mohtwize claims to be the only platform in the kingdom to pay podcasters for their work, and to generate content with downloads of about two million every month.

Mohtwize plans to use the investment to further develop its software solution, expand staffing and increase the platform’s content.

Press Release:

Wa'ed, the entrepreneurship arm of Aramco, has announced a SAR1.9 million venture capital investment in Riyadh-based Mohtwize, a leading podcast tech developer across the Mena region aiming to empower audio content creators through podcast training and providing sponsorship opportunities. 

The investment in Mohtwize, founded in 2018 by former podcaster Khalid Alkenaa, aims to create a sustainable business model for podcasts, a fast-growing medium in the Kingdom that already attracts 5.1 million regular listeners a week.

Mohtwize plans to use the investment from Wa’ed Ventures, the venture capital arm of Wa’ed, to further develop its software solution, expand staffing and increase the platform’s