Digital loan brokerArib raised $2.3 million in seed led by Merak Capital


Digital loan brokerArib raised $2.3 million in seed led by investment company Merak Capital where angel investors also participated.


Arib introduced its first product, Syaaraat, a platform that provides consumers with auto financing options from different banks and financing companies. Arib will use the funds to meet the Saudi Central Bank's requirements for finalising the licencing process and expanding its portfolio of services to include different types of loans, such as personal loans, home loans, and credit cards. The proceeds will also be used to streamline the digital broker's operations and technology infrastructure.

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