Bwatech raises $16m to expand Saudi digital finance platform

By Vriti Gothi

Bwatech has raised $16 million in a funding round led by Sharaka Financial to expand its position at the forefront of digital financial infrastructure in the Kingdom. The capital injection is set to accelerate Bwatech’s growth, expand its presence across the Saudi market, and enhance corporate and banking efficiency.

Bwatech’s platform offers businesses a comprehensive suite of financial management tools, enabling seamless multi-bank operations. Core functionalities include digital guarantees, account management, and open banking capabilities, all accessible via an intuitive web portal or mobile application. Additionally, the platform supports integration with corporate systems through robust application programming interfaces (APIs), allowing for automated workflows and real-time financial insights.

Operating within the Saudi Central Bank’s (SAMA) regulatory sandbox, Bwatech is building infrastructure designed to streamline corporate financial processes, enhance operational efficiency, and reduce administrative complexity. The platform aligns with the Kingdom’s broader objectives to modernise financial services, promote digital adoption, and support businesses in achieving more agile and transparent financial management.

Hashim Al Hekail, Founder and Chairman of Bwatech, said: “This round marks a pivotal step toward building a more efficient digital financial infrastructure for businesses. The funding will enable Bwatech to scale its operations and continue delivering innovative solutions tailored to the evolving needs of corporate clients.”

The strategic investment from Sharaka Financial reflects strong confidence in Bwatech’s vision and its potential to redefine corporate financial operations in Saudi Arabia. By combining technology-driven innovation with customer-centric design, Bwatech is poised to empower businesses with greater control, efficiency, and visibility over their financial operations.

With this funding, Bwatech continues to advance its mission to deliver future-ready, secure, and scalable digital financial solutions, cementing its role as a key enabler of the Kingdom’s digital finance ecosystem and supporting the ongoing transformation of the corporate banking landscape.