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UAE-located firm fintech baraka collects USD20M to fund growth into KSA, GCC
(MENAFN) UAE-located fintech firm baraka collected USD20 million in a series A funding round to double down on Saudi growth.
With more than 6,000 US-registered securities on its commission-free platform, baraka makes financing obtainable to everyone with no minimum investment supplies.
In an exclusive meeting with Arab News, Feras Jalbout, chief executive and founder of baraka, stated that the firm is going to use most of its investments for growth as well as licensing in additional markets.
“As (Saudi Arabia is) the largest market in the region, we are excited about the prospects of having a local presence. Of course, we need to first complete the licensing process, as mandated by the government,” Jalbout informed Arab News.
He continued: “The Kingdom has adopted the world’s leading standards for equity investing, and we look forward to being a long-term partner to investors here in the future.”
With Vision 2030 being a strong financial foundation, Jalbout anticipates the attention in equity markets to be boosted by fintech similar to baraka.
“With the backing of our investors, we have a long-term commitment to the Kingdom, where the young mobile-first population seeks intuitive and digital-friendly solutions,” he also asserted.
With more than 6,000 US-registered securities on its commission-free platform, baraka makes financing obtainable to everyone with no minimum investment supplies.
In an exclusive meeting with Arab News, Feras Jalbout, chief executive and founder of baraka, stated that the firm is going to use most of its investments for growth as well as licensing in additional markets.
“As (Saudi Arabia is) the largest market in the region, we are excited about the prospects of having a local presence. Of course, we need to first complete the licensing process, as mandated by the government,” Jalbout informed Arab News.
He continued: “The Kingdom has adopted the world’s leading standards for equity investing, and we look forward to being a long-term partner to investors here in the future.”
With Vision 2030 being a strong financial foundation, Jalbout anticipates the attention in equity markets to be boosted by fintech similar to baraka.
“With the backing of our investors, we have a long-term commitment to the Kingdom, where the young mobile-first population seeks intuitive and digital-friendly solutions,” he also asserted.
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