FinTech Hakbah: Fueling business growth with $5.1m raised.

Hakbah, a Saudi-based FinTech savings platform, has raised $5.1 million in a Series A funding round. The round was led by VentureSouq, with participation from M-Capital, Bunat Ventures, Global Ventures, and Aditum Investment Management. The funding will be used for product development, with a focus on machine learning, as well as attracting and nurturing talent. Hakbah aims to double the savings ratio of individuals in Saudi Arabia by 2025.