KSA-Based Startup Tamara Becomes The Newest Fintech Unicorn in the Kingdom With Its US$1 Billion Valuation
Fintech platform Tamara has made history by becoming Saudi Arabia’s newest fintech unicorn, achieving a valuation of US$1
TechXpand, a technology event powered by Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) that took place in December 2023, unveiled several programs and accelerators aimed at shaping the future of the tech landscape in Saudi Arabia.
Bringing together technology leaders, innovators, investors, and visionaries from around the world, TechXpand showcased initiatives aimed at fostering innovation, supporting entrepreneurship, and driving digital transformation in the Kingdom. Key announcements made at the event include the Technology Champions program, launched in partner- ship with the National Technology Development Program (NTDP). Additionally, the DeepTech Mission Initiative was revealed, a collaborative effort to create and enhance an ecosystem that embraces emerging talent in deep technology solutions. The first phase, targeting more than 165 companies in this space, was launched at TechXpand. Building on the success of its first phase, the AdopTech initiative was also confirmed to begin its second phase; this aims to boost enterprises on their journey towards digital transformation.
TechXpand also saw the announcement of the Technical Excellence Award winners, where companies contributing to the development of local technical content were recognized and honored. Also revealed at the event was the Digital Entrepreneurship Center, which introduced various programs and accelerators aimed at empowering digital entrepreneurs, both male and female.
Speaking at the event, Mohammed Al Robayan, Deputy Minister for Technology at MCIT, said, “The Kingdom has become a main part of the fabric of the national and global digital economy. Testament to this is the US$4.4 billion investment attracted by the Kingdom for cloud computing alone. Another important milestone that we have reached—and I am proud to announce it today—is that Saudi Arabia is now number one in venture capital investment in the MENA region.”
Fintech platform Tamara has made history by becoming Saudi Arabia’s newest fintech unicorn, achieving a valuation of US$1
February 2024 saw HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of
TechXpand, a technology event powered by Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) that took place in
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