Saudi fintech Abwab.ai raises $4m in seed round led by Speedinvest

Saudi fintech Abwab.ai raises $4m in seed round led by Speedinvest. RIYADH: Saudi fintech Abwab.ai raised SR15 million ($4 million) in a seed round led by European venture capital firm Speedinvest as it seeks to expand its AI-powered lending infrastructure for small and medium-sized businesses. Middle East Venture Partners also participated in the round, according to a company statement. The investment marks Speedinvest’s first investment in Saudi Arabia, the statement said. Riyadh-based Abwab.ai said financial institutions using its technology have processed