Saudi Arabia’s fintech startup Bwatech scores $16 Million to Expand Corporate Financial Solutions

• Saudi fintech Bwatech raises $16 million in funding led by Sharaka Financial.
• The company aims to expand its corporate fintech solutions to strengthen Saudi Arabia’s digital financial infrastructure.
• Bwatech’s platform offers digital bank guarantees, open banking, multi-bank account management, and API integrations.
• Operating under SAMA’s regulatory sandbox, Bwatech is aligned with Vision 2030’s fintech transformation goals.

Bwatech, a Riyadh, Saudi Arabia-based fintech startup specialising in corporate financial solutions, has raised $16 million (around SAR 60 million) in a funding round led by Sharaka Financial, marking a significant step in strengthening the Kingdom’s corporate fintech infrastructure.

According to the company, the fresh funding will be deployed towards scaling Bwatech’s services across the Saudi Market and reinforcing its position as a leading fintech solutions provider for businesses and banks alike.

Founded in 2020 by Hashim Al Hekail and Rasha Al-Oraini, Bwatech provides an integrated platform designed to help corporates streamline and centralise their financial operations across multiple banks. Its suite of services includes: Digital bank guarantees, Multi-account and treasury management, Open banking solutions, and Direct API integrations with corporate internal systems.

The platform is accessible through both web and mobile applications, enabling enterprises to seamlessly connect their banking and finance operations in one place.

Currently, Bwatech is operating within the Saudi Central Bank’s (SAMA) regulatory sandbox, which allows fintech innovators to pilot products and services under regulatory supervision before achieving full-scale market deployment. This positioning aligns with the Kingdom’s growing emphasis on digital transformation and financial sector development under Vision 2030.

Speaking of the development, Hashim Al Hekail, Founder and Chairman of Bwatech, in a press statement said, “This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses, and we are pleased to have the trust of partners who share our vision for growth and expansion.”

Bwatech and the Rise of Corporate Fintech in Saudi Arabia

Bwatech’s funding comes at a crucial moment in Saudi Arabia’s fintech evolution. While much of the regional fintech spotlight has been on consumer-facing services such as payments, digital wallets, and BNPL solutions, the corporate fintech segment remains relatively underserved. Bwatech is stepping into this gap by offering solutions that simplify corporate banking relationships, automate guarantees, and provide secure API connectivity – areas critical for large enterprises and SMEs alike.

Operating under SAMA’s sandbox gives Bwatech the advantage of experimenting with new financial technologies under close regulatory watch. However, the transition from sandbox to full-scale adoption often tests fintech companies on regulatory compliance, scalability, and risk management.

The startup’s growth trajectory also ties directly to Saudi Vision 2030, which prioritises financial sector innovation, open banking, and digitalisation as core enablers of economic diversification. With $16 million in fresh capital, Bwatech is well-positioned to accelerate its role in building the Kingdom’s financial infrastructure.

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