Saudi fintech lite secures $3.2m in pre-seed funding

Saudi fintech lite secures $3.2m in pre-seed funding
Co-founders of lite Fahad Anteet, Mohamed Faheem, and Soliman Aldukhil.
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Updated 18 February 2025
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Saudi fintech lite secures $3.2m in pre-seed funding

Saudi fintech lite secures $3.2m in pre-seed funding

Saudi-based fintech startup lite has announced the successful closure of its pre-seed funding round, raising a total of $3.2 million. The round was led by Scene Holding, with participation from prominent angel investors, marking a significant milestone in lite’s journey to redefine the payments ecosystem for businesses in Saudi Arabia.

Established by three seasoned co-founders with vast experience in payments — Fahad Anteet, Mohamed Faheem, and Soliman Aldukhil — lite is on a mission to become the leading payment solutions provider in the Saudi market, offering businesses a full-fledged suite of financial services to meet all their payment needs. With a strong focus on innovation, scalability, and localization, lite is committed to driving financial inclusion and enhancing the efficiency of payment ecosystems in the Kingdom. This is in line with Saudi Vision 2030’s goals of accelerating digital transformation and promoting a less-cash society.

Currently, lite is in the process of obtaining an electronic money institution license from the Saudi Central Bank, which will enable the company to fully operate and deliver its comprehensive suite of payment solutions to businesses across the Kingdom.

“We are deeply grateful to our investors for their trust in our vision and to the Saudi Central Bank, Fintech Saudi, and key ecosystem enablers for their support in fostering fintech innovation. This funding marks a major step forward in our mission to provide businesses with seamless, secure, and scalable payment solutions tailored to the Saudi market,” said Anteet, CEO of lite. “As we work toward obtaining our EMI license, we remain committed to innovation, compliance, and localization — empowering businesses and accelerating the shift toward a digital, less-cash economy in alignment with Vision 2030.”

“We are thrilled to support lite on its journey to reshape the payments ecosystem in Saudi Arabia,” said Sultan Ghaznawi, chairman and managing director, Scene Holding “The founding team’s expertise, vision, and commitment to innovation align perfectly with our investment philosophy at Scene Holding.” 

We believe lite has the potential to drive meaningful impact in the fintech sector, empowering businesses and contributing to the Kingdom’s digital transformation goals.”


Saudia Cargo aligns global partnerships for growth

Saudia Cargo aligns global partnerships for growth
Updated 24 min 58 sec ago
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Saudia Cargo aligns global partnerships for growth

Saudia Cargo aligns global partnerships for growth

Saudia Cargo has reaffirmed its position as a global air cargo leader following the successful conclusion of its annual global sales agents meeting. The event brought together key partners from around the world to align on the company’s 2025 strategic priorities, address evolving market challenges, and celebrate a year of significant achievements in 2024.

With a focus on scaling operations to meet rising global demand, Saudia Cargo outlined its roadmap to optimize fleet capacity, expand network connectivity, and accelerate digital transformation. Leveraging Saudi Arabia’s strategic geographic location, the company continues to serve as a vital air bridge connecting East and West, facilitating seamless global trade.

The meeting highlighted Saudia Cargo’s commitment to innovation and operational excellence, with plans to maximize belly capacity on Saudia Airlines flights, strengthen interline partnerships, and enhance cargo handling capabilities to ensure efficient and reliable cargo movement across international markets, solidifying the company’s competitive edge.

Loay Mashabi, CEO and managing director of Saudia Cargo, emphasized the critical role of GSAs in the company’s success: “Our GSAs are integral partners, and this gathering provided an invaluable opportunity to align on our shared vision for growth and innovation.”

He added: “By focusing on customer-centric solutions, operational resilience, and strategic collaboration, we are well-positioned to meet the demands of a rapidly
evolving market.”

Mashabi highlighted Saudia Cargo’s achievements in 2024, including maintaining an industry-leading on-time performance rate of more than 92 percent. “Despite global supply chain disruptions and shifting demand patterns, we prioritized flexibility, capacity expansion, and digital innovation. Our GSAs have played a pivotal role in driving growth, particularly in the e-commerce sector, helping us attract new business while retaining existing customers,” he said.

Aligned with Saudi Arabia’s Vision 2030, Saudia Cargo is committed to transforming the Kingdom into a global logistics hub by expanding capacity, strengthening global connectivity, and enhancing trade efficiency. The company aims to scale import, export, and transit volumes by 2030, driving economic growth and solidifying Saudi Arabia’s role as a key player in international supply chains.

The annual GSA meeting underscored Saudia Cargo’s dedication to fostering strategic partnerships that drive service excellence and operational resilience. With a clear roadmap for 2025, the company is poised to lead in key growth markets, advance digital transformation, and reinforce its status as a global air cargo powerhouse.


Kerten Hospitality’s Cloud 7 Hotel Roma redefines hospitality

Kerten Hospitality’s Cloud 7 Hotel Roma redefines hospitality
Updated 25 min 48 sec ago
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Kerten Hospitality’s Cloud 7 Hotel Roma redefines hospitality

Kerten Hospitality’s Cloud 7 Hotel Roma redefines hospitality

Cloud 7 Hotel Roma, Kerten Hospitality’s latest destination, is a reinforcement of the group’s commitment to merging art, design, and locality in a way that is entirely unique, creating a hospitality experience that is deeply connected to the cultural fabric of each destination. The expansion in Europe reflects the brand’s ongoing global growth, which has already seen success in Saudi Arabia with Cloud 7 Residence and Dar Tantora House Hotel in AlUla.

“With the launch of Cloud 7 Hotel Roma, we are bringing our signature lifestyle hospitality approach to one of the world’s most iconic cities,” said Marloes Knippenberg, CEO of Kerten Hospitality. “Our focus on authentic local experiences, design-driven spaces, and community-centric hospitality will redefine the way travelers engage with Rome. This expansion in Italy marks an exciting step in our global growth, with plans to further strengthen our presence across Europe and Morocco, introducing our innovative hospitality concepts to new destinations.”

An immersive artistic experience

Agnese Landolfo, Kerten Hosptiality’s art curator, was brought on board from the start to lead the artistic direction of the property. She collaborated closely with Genius Loci Architettura and a curated selection of local artists to craft site-specific pieces exclusively for Cloud 7 Hotel Roma. Each artwork, from large-scale installations to intricate details within the rooms, was created with the hotel in mind, embedding contemporary artistic expression into the very soul of the property.

This is not just a hotel; it is an evolving art gallery, a space where guests live within creativity, enveloped by pieces that tell the story of Rome in a modern voice.

Prime location

Located at the corner of Via del Corso and Via di Pietra, Cloud 7 Hotel Roma is positioned in the cultural heart of Rome, just steps away from the Spanish Steps, the Pantheon, Montecitorio, and Piazza Colonna. More than just a place to stay, the hotel acts as a gateway to the city’s best food and cultural experiences.

Surrounded by some of Rome’s most renowned restaurants and artisanal coffee houses, Cloud 7 Hotel Roma offers curated itineraries and collaborations that immerse guests in the local dining scene. From early-morning espressos at hidden cafés to indulgent Roman feasts, every experience is designed to connect travelers with the soul of the city.

A historic space reimagined

Cloud 7 Hotel Roma has been meticulously repurposed to bring together modernity and heritage in a prime location. The hotel features uniquely designed rooms, where contemporary comfort meets art-infused storytelling.

Rather than a traditional hotel structure, Cloud 7 Hotel Roma seamlessly blends into the cityscape, offering a deeply local experience. The top-floor rooms boast 260-degree views of Rome, creating a breathtaking vantage point that celebrates the city’s timeless charm.

A connecting Social Hub

Cloud 7 Hotel Roma is a lifestyle destination, a central base where guests can interact with Rome’s creative, artistic, and culinary communities.

The first-floor Social Hub is an energetic meeting point, where guests and locals come together over morning coffee, casual work sessions, and intimate bespoke events. Designed to reflect the bustling vibrancy of the neighborhood, the space fosters connections and engagement with the city beyond the hotel walls.

For those on the go, the Grab and Go corner offers a selection of fresh, local bites — perfect for exploring the hidden streets of Rome with a taste of the city in hand.

Redefining hospitality in Rome

Cloud 7 Hotel Roma is an intersection of art, design, and local culture, bringing a fresh perspective to the city’s hospitality landscape. By integrating artistic collaborations, immersive experiences, and a location that places guests at the center of it all, Cloud 7 Hotel Roma offers a new way to experience Rome.


stc at LEAP 2025: Global partnerships, new tech launches

stc at LEAP 2025: Global partnerships, new tech launches
Updated 18 February 2025
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stc at LEAP 2025: Global partnerships, new tech launches

stc at LEAP 2025: Global partnerships, new tech launches

stc Group concluded its participation in LEAP 2025, the world’s most-attended tech event, with the launch of several tech initiatives and signing of multiple agreements with global industry leaders.

As the event’s strategic partner, stc set new benchmarks in connecting Saudi Arabia to the world through cutting-edge digital solutions. Recognized with accolades like TM Forum’s Running-on-ODA accreditation, stc is reshaping industry standards across the Middle East.

As part of the group’s mission to drive digital innovation, stc launched “upsource by solutions” at LEAP, a new business process outsourcing subsidiary. upsource will enhance overall efficiency for businesses across the Kingdom, by providing the opportunity to outsource non-core business functions, including operations management, finance, human resources, and customer experience solutions.

Showcasing its leadership in AI innovation, stc unveiled stc.AI, the group’s bespoke AI platform. By integrating the latest smart technology with robust cloud storage and computing capabilities, stc.AI will help businesses operate smarter and more efficiently. stc also partnered with sully.ai to offer autonomous healthcare solutions for citizens across the Kingdom.

At LEAP 2025, stc announced the signing of 75 agreements with industry players and global tech leaders, including:

• AWS: stc Group will accelerate Saudi Arabia’s deployment of cloud-based services and AI infrastructure as a system integrator premier partner, the highest tier in the AWS Partner Network.

• Nokia: The two tech giants formalized their partnership in spearheading 6G development in the MEA region and completed Saudi Arabia’s first proof of concept of software defined access networks over the fiber-to-the-home network, driving unparalleled connectivity across the Kingdom.

• Huawei: stc Group is first in the region to commercially deploy cutting-edge 50 gigabit passive optical network, providing robust, high-capacity digital infrastructure to support the Kingdom’s rapidly expanding 5G network.

• Ericsson: By adopting Ericsson Charging to enhance 5G and network API monetization, trialing the 5G cloud radio access network, and signing an MoU to advance digital business monetization in Saudi Arabia, stc and Ericsson are accelerating digital business opportunities and connectivity solutions across the Kingdom.

• Bridge alliance: This partnership initiates the process to turn telco APIs into digital products, making stc the first MENA operator to commit to API Exchange.

• Kyndryl: Key enterprises will have advanced network services and streamlined connectivity with stc and Kyndryl’s multi-year partnership, establishing enhanced cloud and IT infrastructure capabilities across the MENA region.

• SambaNova: stc, through its AI arm stc.AI launched a large language model sovereign cloud platform, which will run the world’s largest open-source frontier AI model, driving innovation and scalability for Saudi enterprises.

stc also presented its vision for smart, sustainable, and connected urban living through its partnership with the Mohammed bin Salman Foundation to develop Misk City. The group’s centralized data infrastructure, green technologies and inclusive digital solutions, will redefine connected living in the country.


SADAFCO participates in King Abdulaziz University career fair

SADAFCO participates in King Abdulaziz University career fair
Updated 18 February 2025
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SADAFCO participates in King Abdulaziz University career fair

SADAFCO participates in King Abdulaziz University career fair

The Saudi Dairy and Food Products Company participated in the 12th Career Forum at King Abdulaziz University. The event took place from Feb. 2 to 6, under the patronage of Prince Saud bin Mishal bin Abdulaziz, deputy governor of Makkah region.

SADAFCO’s participation in the forum emphasizes its ongoing commitment to supporting national talent and providing career opportunities that contribute to building a successful professional future for Saudi youth. The company’s booth allowed visitors to learn about available career paths and engage directly with the recruitment team for valuable advice on advancing their professional journeys.

Nadia Malaika, chief human resources officer at SADAFCO, said: “At SADAFCO, we believe in empowering national talent and supporting the professional aspirations of young people. Our participation in the 12th Career Forum reflects our commitment to providing a stimulating work environment that offers growth and development opportunities, and we look forward to welcoming new talents to our team.”

SADAFCO continues to enhance its efforts in developing human capital and attracting talent that contributes to solidifying its position as one of the leading companies in the Saudi and regional markets.


As Formula E partner, SABIC advances world’s sustainable transition to EVs

As Formula E partner, SABIC advances world’s sustainable transition to EVs
Updated 17 February 2025
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As Formula E partner, SABIC advances world’s sustainable transition to EVs

As Formula E partner, SABIC advances world’s sustainable transition to EVs

The Jeddah E-Prix just concluded with a resounding success, giving yet another opportunity to SABIC — as principal and innovation partner — to demonstrate its ability to support the world’s transition to electric vehicles and a more sustainable future.

The Jeddah E-Prix was held on a new track at the Jeddah Corniche Circuit, offering fans an electrifying experience and a platform for SABIC to showcase its expertise in automotive technologies, which have the potential to directly contribute to the evolving needs of EV manufacturers. 

Since initiating the partnership in 2022, SABIC has worked closely with Formula E, officially the ABB FIA Formula E World Championship, to drive innovation across the sport. It is collaborating closely with Formula E to integrate its sustainable solutions across their race cars and the whole ecosystem.

One such example is that of the GENBETA car development program — a live development platform created with Formula E to push the boundaries of EV technology. SABIC’s materials were used in the applications of GENBETA, contributing directly to the car’s achievement of hitting a top speed of 218 kph at the London E-Prix — setting a new Guinness World Record. 

Being an innovative science and technology company, SABIC has materials and capabilities to take advantage of the enormous growth opportunity that electrification represents. At the same time, SABIC’s initiatives to advance electrification align fully with its broader sustainability strategy, which supports a circular carbon economy vision.

As Formula E continues to make waves globally as a premier motorsport championship for electric cars, SABIC’s ongoing work with commercial EV makers and their partners is contributing to the development of breakthrough solutions to help increase efficiency and performance — perfectly aligned with its mission to provide innovative solutions to automakers and help them enhance the performance of EVs.