The most famous startups in Saudi Arabia that are expected to grow in 2024

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  • January 7, 2024
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Contribute Start-ups In supporting the economy of the Kingdom of Saudi Arabia in more than one way and form, for example, these companies provide a huge number of job opportunities, and they also attract foreign investors to invest in them, which positively affects the Kingdom’s economy.

In this article, we introduce you to the most famous startup companies in Saudi Arabia and the services they provide.

1. Tamara

Tamara is a Saudi payments company founded in 2020. The company offers several financial solutions that comply with Islamic Sharia. Tamara is one of the… The most successful startups In Saudi Arabia in the field of payments in recent years due to the success and growth it has achieved in this field.

Basically, Tamara Company provides the service of purchasing invoices in installments, or what is called buy now and pay later, in the following ways:

  • In two payments (one payment at the time of purchase and another one month later).
  • 3 payments (payment at the time of purchase and the remaining payments over two months).
  • 4 payments (payment at the time of purchase and the rest over 3 months).

Tamara handles 26 thousand trade mark And many online stores inside and outside Saudi Arabia, such as SheIn, IKEA, and others. Tamara also provides discounts and purchase vouchers on all categories of products available in the online stores it deals with.

Tamara received about $400 million in financing from 2021 until November 2023. Tamara’s headquarters are located in Saudi Arabia, and the company also has several other offices in countries such as the Emirates and Germany.

2. Zid

Z Company is a startup company in Saudi Arabia that was founded in 2017 with the aim of helping merchants with digital transformation. The company was able to raise more than $7 million in funding from the time of its founding until now.

More than 8,000 online stores in 22 different sectors depend on Zid. What Zid offers to merchants in the field can be summarized: E-Commerce In four basic axes:

  • Providing a professional online store and a carefully designed brand.
  • Auxiliary services such as shipping to more than 30 countries.
  • Teaching merchants several helpful skills that enable them to improve the performance of their online stores, such as marketing and advertising.
  • Meetings and meetings to exchange experiences in the field of retail.

Zid Company provides several other advantages for merchants in the field of e-commerce, including:

  • Zed Market increases the efficiency of online stores by providing them with assistance programs such as automation, accounting, and others.
  • ZPay, which provides various payment solutions, including payment through bank cards, PayPal, and Apple Pay.
  • Zedship to provide different solutions and methods for shipping by relying on international companies such as Aramex.
  • Mazyad is an additional sales channel provided by Zid Company to increase sales to its customers and help them reach a larger number of customers.

3. Mint-Nana

Nana is a Saudi startup company founded in 2016 that provides an application with the same name that provides grocery products. Nana supports the ability to deliver orders in 14 Saudi cities through its application available on the Android and IOS operating systems.

The success of Nana Company as a startup in the field of e-commerce, specifically grocery delivery, helped it raise huge funds. For example, the company succeeded in obtaining funding in the amount of $133 million at the beginning of 2023.

Nana Company provides a huge and diverse number of high-quality products, amounting to 40 thousand products. The company also professionally packages these products to preserve them during the shipping and transportation process so that they reach customers in the best condition.

Nana Company employs more than 600 employees, and the company also provides jobs in a large number of fields in Saudi Arabia and Egypt.

4. Tweeq

Tuwaiq is a Saudi startup company working in the field of financial services, founded in 2020. Tuwaiq is subject to the supervision and supervision of the Central Bank of Saudi Arabia.

Tuwaiq Company has an electronic application that works on the Android and IOS operating systems on mobile phones and smart watches.

Through this application, users can easily transfer and receive money to their friends who use the application without fees. The application also provides the ability to purchase and pay online in a safe manner through several methods such as Apple Pay.

The Tuwaiq application also provides other features in the field of money management such as analyzing and managing the monthly budget and managing expenses.

Finally, unlike the application, Tuwaiq Company provides its own bank card in cooperation with MasterCard, which it calls EDGE. This card provides a large number of features, such as discounts on purchasing products and a 2% cashback when paying with energy.

5. Lucidya Lucidya

Lucidya is a Saudi startup company founded in 2016 that works in the field of customer service. During its financing round in 2022, Lucidya raised $6 million in funding, and it is expected that it will be able to raise more funding in the coming years.

Lucidya relies on technologies data analysis Advanced artificial intelligence tools for analyzing customer data. The company provides several advanced technical solutions in the field of customer and target audience analysis.

Lucidya products are relied upon by many international companies, such as Burger King.

Lucidya targets different categories of audiences in a variety of sectors, the most important of which are:

  • Telecommunications.
  • Restaurants and food.
  • health care.
  • Tourism and Travel.
  • Media and entertainment.

To monitor audience interaction in more than one direction and form, Lucidya provides a variety of digital products, the most important of which are:

  • Lucidia Interaction: To improve customer service response and increase its speed and accuracy across applications artificial intelligence.
  • Lucidya Social Listening: To collect and analyze data related to brands on social media platforms.
  • Lucidya Unified Channels: To analyze customer data across various digital means and channels.
  • Lucidya Customer Data Platform: To manage customer data based on their interaction and behavior.
  • Lucidia Questionnaire: To collect customer opinions and measure their satisfaction with products and usage experiences.

6. Salla basket

Sella is a Saudi company founded in 2016. Sella provides services for creating electronic stores and affiliated systems such as marketing systems, inventory management, sales, and payment gateways.

Basket provides a variety of price plans to suit different styles of e-merchants. This includes a free price plan that enables them to create a free online store, and other paid plans that provide unique features in the field of e-selling.

Basalt also provides several tools and features in the field of electronic selling to support merchants, such as:

  • An application and utility store for online stores.
  • Allowing merchants to design the apps their stores need.
  • Special Basket Package, which provides additional features to merchants such as the ability to transfer data between e-commerce platforms.
  • Various and secure payment methods.
  • Marketing tools to motivate customers to purchase and increase sales.
  • Local platform that brings together the local merchant and the local consumer.

7. Lendo

Lindo is a Saudi startup company founded in 2019. The Lindo platform is licensed and compatible with the provisions of Islamic Sharia. For crowdfunding With credit, Lindo succeeded in raising $28 million in its latest financing round this year.

Lindo aims to help SME owners find the right SMEs for their business. Lindo also works to help SMEs finance their forward sales invoices.

Currently, Lindo provides its financing services in three sectors:

  • Invoice financing software.
  • Small and medium enterprises financing program.
  • Film sector financing program.

Lindo promises small business owners to obtain the financing they need within a matter of days. As for investors, through Lindo they can invest in small amounts starting from 1000 riyals and achieve profits in a period ranging from one month to 6 months.

8. Gathern

Gazir Inn is a company that works in the field of providing private holiday homes such as chalets, villas and private apartments. The company was established in 2017 with a license from the Ministry of Tourism for shared housing or Peer to peer renting in Saudi Arabia.

Other than holiday homes, Gezer Inn offers many places to rent such as farms, stables and resorts. Gazer Inn has been able to raise more than $6 million in funding since its inception, and it is expected that it will be able to raise larger amounts due to its success in the field of booking hospitality accommodations.

Finally, Jazer Inn provides a complete camp rental service in several Saudi cities such as Jeddah, Riyadh, and Taif.

9. Soum

Soum is a Saudi startup company. Soum was founded in 2021. The primary goal of this company is to provide a platform through which used electronic devices (such as mobile phones and computers) can be bought and sold in Saudi Arabia.

SOM also allows the sale of furniture, cars, and rare collectibles through it. SOM provides its services through an electronic application that works on Android and iOS systems.

SOM provides several powerful features in the field of buying and selling used devices, such as:

  • Ensure that the received product matches the specifications written about it in the application.
  • If the product differs from the specifications, Som will refund the value of the product to the buyer.
  • Various payment methods, including direct payment through bank cards or payment in installments through the Tamara platform.
  • SOM provides used products in excellent condition.

10. Sari

Sari Company was established in 2018 and specializes in providing consumer goods to small business owners. This is done by working as a link between the owners of these projects, wholesalers, and manufacturers of consumer goods and products.

Sari provides more than 30,000 products from various brands at competitive prices and high quality. Sari has raised funds of more than $112 million from the time of its establishment until now.

Sari provides two basic advantages to small and medium grocery business owners:

  • Providing any possible amount of products within 24 hours.
  • Various payment methods, such as payment upon receipt or through bank cards.

11. Monday ithnain

It is considered one of the newest startup companies in Saudi Arabia, as it was founded in 2022. The company provides a medical application bearing the same name that aims to maintain the health of diabetics and provide them with balanced health plans that suit their health and life goals.

It provides its plans based on a group of nutrition specialists and pharmacists trained in dealing with diabetes. It also provides plans that are scientifically prepared to suit the condition of each individual patient.

All Ethn services are done through the application without the need to go to clinics or hospitals. The application focuses on all aspects of the patient’s life, including health, nutrition, and psychology.

12. NearPay

Nearpay is a Saudi startup company founded in 2020 that specializes in providing digital payment services. The company has succeeded in raising more than $3.6 in funding since its inception.

Nearpay specializes in collecting payments through electronic payment methods such as softPOS devices. The company provides applications and software codes that enable startup owners to receive their payments using secure and advanced technologies such as NFC technology.

Conclusion

In this article, we presented to you a group of the most famous startup companies in Saudi Arabia in a variety of fields. As you noticed, most of the services of these companies specialize in providing digital solutions in payments or services on the one hand and e-commerce on the other hand.

This alerts us to the trend of startups in Saudi Arabia, which is predominantly technical in nature and which appears to continue to dominate for a long time. Do you know the names of other startups in Saudi Arabia? Share with us the names of these companies and their field of work in the comments.

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