Abwab.ai, a Riyadh-based fintech startup, has raised $4 million in seed funding from Speedinvest and Middle East Venture Partners (MEVP). The company builds AI-powered credit infrastructure for banks and lenders, automating loan origination and underwriting for small and medium-sized businesses. Abwab's technology is currently used by over 13 financial institutions and has processed more than SAR 1 billion in SME loans. The funding was announced at the LEAP conference in Riyadh this week.
Company Information
Company
Abwab.ai
Location
Riyadh, Riyadh Region, Saudi Arabia
About
Abwab.ai is a Riyadh-based fintech that builds AI-powered credit infrastructure for banks and lenders, automating loan origination and underwriting for small and medium-sized businesses. The platform aggregates bank statements, VAT records, financial statements, and credit bureau data to assess borrowers and help credit teams make lending decisions. Unlike direct-to-SME lenders, Abwab operates as middleware beneath financial institutions, streamlining the underwriting process across credit decisioning, digital loan origination, and portfolio monitoring. The company serves over 13 financial institutions and has processed more than SAR 1 billion in SME loans.
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RiyadhFinancial ServicesFinanceFintechLendingBanking