Riyadh – Exclusive Sharikat Mubasher: Sami Almoeehi, CEO of Wazen Financial, revealed that the company is targeting a new Pre-Series A funding round—its value undisclosed—to support its regional expansion plans and strengthen its technology infrastructure.
Almoeehi added that Wazen Financial previously secured a seed investment that helped the company build its product and expand its team. He further explained that the company now offers an operating system that enables businesses to manage and organize their operational, financial, and administrative processes in a unified platform that connects all work components, including procurement, sales, inventory, human resources, and finances.
Expansion Plans and Tracks
Almoeehi noted that the company’s expansion plans are moving along two main tracks. The first track relates to products, where the company is working on launching additional financial and technical modules that rely on artificial intelligence and system integration to broaden the range of services offered within the same platform.
The second track, according to Almoeehi, involves geographic expansion as the company prepares to enter regional markets, including the UAE, Bahrain, and Kuwait, while giving priority to the Saudi market.
Innovation in Digital Solutions
Almoeehi added that the company is heavily focused on providing localized solutions that fit Saudi working systems and integrate seamlessly with government entities and cloud services. This includes a simple and flexible user interface that allows managers and employees to run operations easily, anytime, and from anywhere.
Strategic Partnerships
Regarding key partnerships signed by Wazen Financial in the Saudi market, Almoeehi explained that the company recently signed a partnership agreement with Synclane, a company specializing in IT services and consulting. The partnership aims to deliver more comprehensive services, including improving financial operations, enhancing data quality, and providing reports and analytics that help decision-makers manage their businesses more efficiently.
Saudi Arabia as a Supportive Environment for Startups
Almoeehi affirmed that Saudi Arabia today represents a highly promising environment for startups and entrepreneurs compared to before, pointing to strong government support, a solid regulatory framework, active funding entities and investment funds, and a growing willingness in the private sector to embrace digital transformation.
Wazen Financial was founded in 2020 as a Saudi tech company specializing in providing intelligent software solutions that comply with and integrate into local requirements. It offers a comprehensive Enterprise Resource Planning (ERP) system composed of applications designed to manage and automate various business processes, including accounting, e-invoicing, point-of-sale, human resources, manufacturing, supply chain, and customer relationship management.