Riyadh –  Saudi fintech Arabian Pay has raised an undisclosed funding as part of its pre-seed round from Al Bassami Holding Group, according to a recent press release.

The joint deal aims at fostering the partnership between Arabian Pay and Al Bassami Group to expand buy now, pay later (BNPL) services for small and medium-sized enterprises (SMEs) and startups.

This funding will boost Arabian Pay’s position in fintech, expand its market presence, and contribute to economic growth in the Kingdom.

It also aligns with fintech’s objectives to enhance financial inclusion and enable businesses to overcome cash flow challenges.

The collaboration will allow businesses to split payments into three instalments when purchasing from suppliers and merchants without any interest.

In line with the Saudi Vision 2030, this initiative will contribute to the growth of the national economy, as the Kingdom continues to position itself as a key strategic market for fintech services.

Source: Mubasher

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