Saudi Arabia's VC firm Wa'ed leads a $50 million round for US fintech app Wahed

Oluwajuwonlo Afolabi -

Wa'ed, Saudi Aramco Entrepreneurship Centre, a Saudi Arabia-based venture capital firm has led the Series B investment round for the US-based fintech app, Wahed.

  • The fund will support the fintech startup's expansion plans and efforts to launch an ethical neo-bank platform and improve its super app for users.
  • Launched by Aramco in 2011, Wa'ed is an investment firm providing loan financing, venture capital investment, and incubation services to impact-making startups.
  • French professional footballer and Manchester United midfielder, Paul Pogba, and his family offices and institutions invested in the round alongside Wa'ed.