Abwab.ai
Category: AI in Fintech
Riyadh-based fintech building AI-powered credit infrastructure for MSME lending across MENA, sitting underneath lenders rather than lending from its own balance sheet. Abwab.ai was founded in 2023. The company is led by Baraa Koshak. Based in Riyadh, Saudi Arabia. Team size: 11-50. Total funding raised: $4M. Latest round: Seed. Key investors include Speedinvest, Middle East Venture Partners (MEVP).
- Founded
- 2023
- Headquarters
- Riyadh, Saudi Arabia
- Team size
- 11-50
- Total funding
- $4M
Value proposition
AI across the full lending lifecycle (origination, credit decisioning, risk-based pricing, portfolio monitoring, embedded financing) that lets banks, NBFIs, fintechs, funds and platforms originate, decide and grow their MSME loan book without holding loans on their own balance sheet.
Products and solutions
Digital Loan Origination, Credit Decisioning (AI credit models replacing rule-based scorecards), Agentic Credit Intelligence (reads cashflow to reveal SME business health), Risk-based Pricing, Portfolio Monitoring, Embedded Financing, API-first platform & integrations, On-Premise deployment.
Unique value
Balance-sheet-light AI credit infrastructure built specifically for MENA's SME lending economics — turning multi-week manual underwriting into decisions in seconds, with explainable AI and audit logs for regulated institutions.
Target customer
Banks, non-bank financial institutions (NBFIs), fintech lenders, development funds, and platforms wanting to embed financing.
Industries served
Financial services / SME (MSME) lending, fintech, banking.
Technology advantage
API-first credit intelligence layer that integrates with existing loan-origination and core-banking systems (rather than replacing them); combines documents, bank data, credit bureau info and VAT records; applies lender rules alongside AI models; retains audit log for each decision; agentic intelligence layer monitoring accounts.
How they differentiate
Unlike balance-sheet lenders, Abwab sits underneath lenders as a technology layer — it does not fund loans itself, avoiding direct credit risk. It is purpose-built for MENA data, regulations and business practices, with explainable AI and auditability for regulated institutional adoption.
Main competitors
Lendo (Saudi SME lending platform), Hala Financing (Saudi SME financing), other MENA SME credit/underwriting infrastructure players.
Key partnerships
Tuum (modular core-banking partnership for end-to-end AI-enhanced SME lending), Speedinvest (led seed, board seat via Stefan Klestil), MEVP.
Notable customers
Saudi SME Bank, Abdul Latif Jameel Finance, Lendo, Hala Financing, Kafalah, Raqamyah.
Major milestones
Founded 2023 in Riyadh, came out of stealth (~2025), raised $4M seed co-led by Speedinvest and MEVP unveiled at LEAP conference (Sept 2026), entered UK fintech market with pilots, processed SAR 1B+ in SME loans across 13+ institutions.
Growth metrics
SAR 1B+ loans processed; 13+ financial institutions; 13x growth in four quarters; 40+ team members.
Market positioning
Early-stage but fast-scaling AI credit infrastructure provider in Saudi Arabia/MENA; $4M seed sits in top 10% of Saudi seed deals on record; expanding into UK fintech market.
Geographic focus
Saudi Arabia (home base) and MENA, with expansion into the UK fintech market.
About Baraa Koshak
Ex-Revolut (Founding Team Member, Product Strategy & Operations Manager); Ex-Hala; Ex-Mozn; McKinsey strategy background. Third-time founder. Berklee College of Music degree.
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Official website: https://www.abwab.ai
