Tarabut secures $50 million to deepen Saudi embedded finance push

Saudi fintech firm Tarabut has raised $50 million in strategic financing to expand its embedded finance capabilities in the country. The investment round, led by Riyad Bank, X-Tech Fund managed by SAB Invest, GIB Saudi Arabia, Zamil Group and Kanoo Ventures, will bolster Tarabut's infrastructure for connecting banks, businesses and consumers.

The funds will also help Tarabut deepen its presence in Saudi Arabia and develop end-to-end embedded finance solutions, including customer verification, credit decisioning and financing within digital journeys offered by partner financial institutions. The company's focus on SME financing is particularly noteworthy, as it enables financial institutions to assess business creditworthiness using real-time financial behavior and cash-flow data, rather than relying solely on traditional documentation.

Tarabut's infrastructure has already been utilized in various financial services products in Saudi Arabia, including an American Express Saudi Arabia credit-limit increase assessment tool and a Saudi National Bank SME point-of-sale lending product.