Riyad Bank leads an investment round in “Forus” financial business platform

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Riyad Bank led an investment round in “Forus” financial business platform through Riyad Fintech Fund managed by Riyad Capital , which aims to provide alternative and various options for investors to invest through " Forus " platform, Also, enabling the companies to getting various financing innovative solutions that enable them to grow and expand, Which contributes and motivates the digital transformation of the financial sector by digitizing and automating loan procedures in the Kingdom by linking investors and project owners in one platform.

CEO of Riyad Bank Mr. Tareq bin Abdulrahman AlSadhan expressed: that Riyad Bank pride of this investment round, AlSadhan stressed that Riyad Bank participation comes within Objectives of the Digital Partnerships Program which associated with capital venture investment fund, however, he pointed out that Riyad Bank focus its efforts on investing in the future of digital banking and its innovative tools, in addition to signing strategic partnerships with entrepreneurs and fintech companies, in order to create new industries and innovative business models, in supporting efforts aimed to achieving the objectives of the Financial Sector Development Program, in accordance with Saudi Vision 2030.

On her part, Nasibah Bent Saleh al-Rajhi the founder and CEO of Forus company pointed out: that Forus keen to play a significant role in debt market which is witnessing an accelerated level of transformation, in addition, Forus will contribute to building a sustainable and diversified economy, she added that Forus mission is to facilitate financing for SMES, which comprise 99% of the private sector in Saudi Arabia.

Forus since its establishment offering and arranging financing various options based on business nature and size of SMES which previously had faced difficulties and obstacles to find financing various options to support their activities, in addition, Forus will have tremendous role as fintech company and contributor in the Financial Sector Development Program to achieve the Credit growth for SMES in one hand and achieving the financial inclusion on the other.

This partnership confirms the great efforts made by Riyad Bank to meet the concept of digital transformation, Riyad Bank considered as the first bank in Saudi Arabia to have a venture capital of 100 million Saudi Riyals directed to investment in fintech, managed through "Riyad Capital company”, as well as a strategic partner with several global platforms for innovation, Riyad Bank keeps pace with global continuous digital development, Riyad Bank a pioneer in launching many initiatives, programs and strategies targeting to meet current digital transformation and innovation in this field as it’s one of main Riyad Bank pillars of 2025 transformation strategy.

Forus company opened registration for all to invest in available companies or to request a loan, the registration will be through Forus platform www.forus.cc or email info@forus.cc

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