Oumla Secures $2.4M to Develop Saudi Digital Asset Infrastructure
▼ Summary
– Oumla, a Saudi fintech startup, has raised $2.4 million in seed funding led by Core Vision with participation from Avalanche and angel investors.
– Founded in 2022 by Mohammed Aljasser and Salah AlSalman, the company offers digital asset custody, blockchain connectivity, and tokenisation services for corporates, banks, and government entities.
– The funding will support team expansion and stronger partnerships with regulators, financial institutions, and government bodies.
– This aligns with Saudi Arabia’s Vision 2030 goals to promote financial innovation, digital transformation, and blockchain adoption.
– Oumla aims to be a key enabler of Saudi Arabia’s digital economy and its ambition to lead in regional fintech and blockchain innovation.
Saudi fintech firm Oumla has successfully raised $2.4 million in seed funding, a significant milestone aimed at advancing the Kingdom’s digital asset infrastructure. This investment round was spearheaded by Core Vision, with notable contributions from Avalanche and a group of angel investors.
Established in 2022 by Mohammed Aljasser and Salah AlSalman, Oumla specializes in offering custody and management solutions for digital assets, alongside blockchain connectivity and tokenization platforms designed for financial and real estate sectors. The company’s offerings are specifically crafted to meet the needs of corporations, banking institutions, and government agencies looking for secure, regulation-compliant pathways into the expanding digital asset landscape.
The newly acquired funds will be used to expand Oumla’s team and to cultivate deeper collaborations with regulators, financial organizations, and public sector entities. This strategic direction supports Saudi Arabia’s Vision 2030 objectives, which emphasize financial innovation, comprehensive digital transformation, and the integration of blockchain-based technologies.
Operating at the convergence of regulatory frameworks, financial services, and cutting-edge tech, Oumla is positioning itself as a vital contributor to Saudi Arabia’s digital economic growth. The company strives to play a central role in establishing the Kingdom as a regional leader in fintech and blockchain innovation.
(Source: MEA Tech Watch)
