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11 Most Established Startups in Riyadh

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There's no doubt that Riyadh has become a leading hub for technology-based startups.

Some of the world's most successful ones reside there.

Major factors behind Riyadh's success with these startups include an abundance of highly skilled talent, government support that includes tax incentives, and progressive attitudes towards startups.

Here's a list with 11 fast-growing startups located there.


11 Startups in Riyadh

1) Tamara

1) Tamara

Tamara has a buy now, pay later platform that allows clients to pay over time.

Details of the startup:

  • Started in: 2020
  • Founders: Abdulmajeed Alsukhan, Abdulmohsen Albabtain, Turki Bin Zarah
  • Industries: Financial Services, FinTech, Mobile Payments, Payments
  • Number of employees: 51-100
  • Funding amount: $116,000,000
  • Number of funding rounds: 4
  • Number of investors: 9

You can find their website here.

2) Gathern

2) Gathern

Gathern is a booking platform headquartered in Saudi Arabia.

Details of the startup:

  • Started in: 2016
  • Founders: Eman Alsuwailem
  • Industries: Customer Service
  • Number of employees: 11-50
  • Funding amount: $6,000,000
  • Number of funding rounds: 3
  • Number of investors: 7

You can find their website here.

3) unifonic

3) unifonic

unifonic is a customer interaction tool for emerging markets businesses that makes cloud communications more accessible.

Details of the startup:

  • Started in: 2006
  • Founders: Ahmed Hamdan, Hassan Hamdan
  • Industries: Information Technology, Messaging, PaaS, SaaS, SMS
  • Number of employees: 101-250
  • Funding amount: $21,000,000
  • Number of funding rounds: 1
  • Number of investors: 5

You can find their website here.

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4) Nana

4) Nana

Nana is an online grocery delivery service that delivers food and other household items to your doorstep.

Details of the startup:

  • Started in: 2016
  • Founders: Abdulmajeed Alsukhan, Sami Alhelwah
  • Industries: E-Commerce, Grocery, Internet
  • Number of employees: 101-250
  • Funding amount: $28,959,999
  • Number of funding rounds: 4
  • Number of investors: 7

You can find their website here.

5) Jahez

5) Jahez

Jahez is a food delivery platform that brings together restaurants, logistic fleets, and meal orders through the Jahez Mobile App.

Details of the startup:

  • Started in: 2016
  • Founders: Ghassab Al-Mandil
  • Industries: Food Delivery
  • Number of employees: 11-50
  • Funding amount: $36,500,000
  • Number of funding rounds: 2
  • Number of investors: 1

You can find their website here.

6) Zid زد

6) Zid زد

Zid is an e-commerce in a box solution that can be used by any store to get started with eRetail.

Details of the startup:

  • Started in: 2017
  • Founders: Mazen AlDarrab, Sultan AlAsmi
  • Industries: E-Commerce, Internet, Retail
  • Number of employees: 101-250
  • Funding amount: $8,933,207
  • Number of funding rounds: 2
  • Number of investors: 6

You can find their website here.

7) Nearpay

7) Nearpay

Nearpay is a FinTech firm that specializes in payment acceptance.

Details of the startup:

  • Started in: 2020
  • Industries: FinTech, Mobile Payments, Software
  • Number of employees: 1-10
  • Funding amount: $2,700,000
  • Number of funding rounds: 2
  • Number of investors: 1

You can find their website here.

8) Fordeal

8) Fordeal

Fordeal is a cross-border purchasing marketplace for lifestyle products.

Details of the startup:

  • Started in: 2017
  • Founders: Jian Yu
  • Industries: E-Commerce
  • Number of employees: 51-100
  • Funding amount: $20,000,000
  • Number of funding rounds: 2
  • Number of investors: 2

You can find their website here.

9) Lendo

9) Lendo

Lendo is a fintech startup that provides a peer-to-peer lending platform with an emphasis on debt financing for small businesses.

Details of the startup:

  • Started in: 2019
  • Founders: Mohammed Jawabri, Osama AlRaee
  • Industries: Finance, Financial Services, FinTech
  • Number of employees: 11-50
  • Funding amount: $7,200,000
  • Number of funding rounds: 2
  • Number of investors: 5

You can find their website here.

10) ACWA Power

10) ACWA Power

ACWA Power is a power generation and renewable energy developer, investor, co-owner, and operator.

Details of the startup:

  • Started in: 2004
  • Industries: Renewable Energy
  • Number of employees: 1001-5000
  • Funding amount: $239,000,000
  • Number of funding rounds: 4
  • Number of investors: 8

You can find their website here.

11) Lean Technologies

11) Lean Technologies

Lean creates developer-friendly APIs that provide Fintechs access to customer financial data and the ability to initiate payments.

Details of the startup:

  • Started in: 2019
  • Founders: Aditya Sarkar, Ashu Gupta, Hisham Al-Falih
  • Industries: Developer Platform, Finance, Financial Services, FinTech, Information Technology, Mobile Apps, Software
  • Number of employees: 1-10
  • Funding amount: $3,500,000
  • Number of funding rounds: 2
  • Number of investors: 6

You can find their website here.

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