anb capital is pleased to announce anb seed Fund’s participation in Khazna’s $17.0M Pre-series B round alongside notable VC investors including Finance in Motion, Nclude, Aljazira Capital, Khwarizmi Ventures, ICU, Quona, Speedinvest, and Disruptech.

Founded in 2019 by Omar Saleh and Ahmed Wagueeh and based out of Egypt, Khazna aims to serve underbanked Egyptians who have little access to formal financial services, including general-purpose credit, buy now pay later (BNPL) programs, and bill payments. Khazna is now expanding into Saudi Arabia through a joint venture arrangement with Khwarizmi Ventures and expects to obtain a SAMA license in early 2025.

This round of funding underscores investor confidence in Khazna's world-class team, innovative business model, and its strong potential to transform the digital banking industry across the region. With the infusion of new capital, the company is poised to further fuel its growth by applying for a Digital Banking license in Egypt and advancing its expansion into the Saudi Arabian market. Under Saudi Vision 2030, the Kingdom has seen tremendous growth in its digital economy and has attracted leading financial technology innovators. Khazna's expansion into Saudi Arabia will involve strategic partnerships to ensure a tailored approach that meets the specific needs of its target user base.

Khalid S. Al-Ghamdi, CEO of anb capital, stated “By investing in Khazna, we not only support their growth but also contribute to the Kingdom’s ambition to become a regional fintech hub. We are excited to partner with Khazna on this journey and look forward to seeing their impact on the financial landscape of Saudi Arabia.
This partnership is a testament to Saudi Arabia’s growing role in the global fintech landscape, as it continues to attract and invest in the next generation of financial innovators’’.

Omar Saleh, CEO of Khazna, stated, “Closing this funding round is a pivotal achievement for Khazna’s team. This not only propels our core business, but also empowers us to accelerate our mission of advancing financial inclusion across the MENA region. Khazna’s entry into Saudi Arabia marks the beginning of a new chapter, and we are committed to delivering an unparalleled digital user experience across the region.”