SNB Capital is the investment arm of the Saudi National Bank, based in Riyadh. It invests in growth-stage fintech companies through its closed-end fintech fund, and it co-led Tamara's Series C round in 2023.
About SNB Capital
SNB Capital and Sanabil Investments led Tamara's $340 million Series C round in December 2023 through its closed-end fintech fund. The round raised Tamara's valuation to $1 billion. The company describes fintech as one of the core investment sectors in its portfolio. In 2022, SABIC launched the Nusned 2 fund at SAR 750 million in cooperation with it, to support startups and the industrial sector.
Asset manager owned by a bank. Investment in startups goes through dedicated funds such as the closed-end fintech fund.
What it invests in
- Stages
- Growth
- Sectors
- Fintech
From its portfolio
Tamara
A Saudi platform for interest-free, Sharia-compliant installments and pay later, for shoppers and merchants in the Gulf.
- Stage
- Series C
- Raised
- $446M
- Founded
- 2020
- City
- Riyadh
Nice One
A Saudi online store for beauty, fragrance and care products, with most sales coming through its app
- Stage
- Public
- Raised
- Undisclosed
- Founded
- 2017
- City
- Riyadh