Wa’ed Ventures to launch ethically-focused fintech startups with Maydan

Wa’ed Ventures to launch ethically-focused fintech startups with Maydan

Wa’ed Ventures, the venture capital arm of Saudi Aramco Entrepreneurship Center, has signed a Memorandum of Understanding (MoU) with Maydan Capital (Maydan), a UK-based equity investment platform, to provide ethically focused fintech startups with visibility and access to investment in Saudi Arabia.

Through this partnership with Wa’ed Ventures, Maydan will be offering its members the opportunity to co-invest alongside Wa’ed Ventures into innovative Saudi-based startups. Both companies will coordinate and collaborate on finding, backing and mentoring founders as they launch and grow their ethically-focused startups.

Safdar Alam

CEO – Maydan “This is an exciting partnership that is a win-win for both parties, as well as consumers that will ultimately benefit from the next generation of ethically-focused fintech firms that we back. More than ever we need to prioritize a more sustainable sector and the only way to achieve this is by collaborating with organizations that share our vision for the future. We look forward to working closely with Wa’ed Ventures to find the best talent and shape a better financial services sector that reflects the morals and values of consumers.”

The MoU will boost the growing startup ecosystem in Saudi Arabia and create a world-class hub that is focused on championing companies that develop