Discover top fintech news and events!
Subscribe to FinTech Weekly's newsletter
Read by executives at JP Morgan, Coinbase, Blackrock, Klarna and more
Tali Ventures Backs Tarmeez Capital as Saudi Arabia Accelerates Fintech Investment in Sukuk
Saudi Arabia’s fintech sector continues to expand, with a new investment signaling stronger support for digital innovation in Sharia-compliant finance. Tali Ventures, the venture capital arm of STC Group, has invested in Tarmeez Capital, a platform that focuses on structuring and managing sukuk and debt instruments.
The investment, though undisclosed in value, represents a strategic alignment with the Kingdom’s national priorities. Tarmeez Capital has already facilitated over 2 billion riyals (approximately $533 million) in Sharia-compliant financing, positioning itself as a key player in a market poised for rapid expansion.
A Strategic Move Toward a $250 Billion Sector
The Capital Market Authority of Saudi Arabia has projected that the country’s sukuk and debt market could grow to SAR 954 billion by 2030. This aligns with the broader goals of Vision 2030, which include diversifying the economy and strengthening the local capital markets.
Tali Ventures’ decision to back Tarmeez comes as part of its broader strategy to support high-growth companies in emerging sectors. The firm, which has previously invested in digital platforms such as NorthLadder, is now focusing more attention on financial infrastructure that supports long-term economic reform.
By supporting a platform dedicated to sukuk and debt issuance, Tali is not only fueling fintech innovation but also contributing to the development of a financial system designed to accommodate both institutional and retail investors under Sharia principles.
Tarmeez Aims to Scale in a Market Ready for Transformation
Founded to streamline the issuance and management of sukuk and debt instruments, Tarmeez Capital offers tools that reduce complexity and improve access for entities seeking Sharia-compliant financing. The firm operates within a framework that aligns with Islamic financial regulations while leveraging technology to improve efficiency.
CEO Nasser Alsaadoun described the new investment as a key step in scaling the company’s offerings. With growing demand for digital solutions in structured finance, Tarmeez is aiming to expand its capabilities and potentially reach new segments of the market.
The use of fintech in Islamic finance has gained traction in the region, driven by increasing investor interest in transparent, compliant, and accessible financial products. Tarmeez is one of the platforms attempting to bridge the gap between traditional financial instruments and the digital transformation of capital markets.
Growing Investor Interest in Specialized Fintech
While broader fintech trends in the Gulf have included consumer banking, payments, and lending, the focus is now shifting toward specialized platforms. Tools that facilitate market infrastructure — especially in debt markets — are attracting attention for their ability to scale without high customer acquisition costs.
The investment in Tarmeez reflects this shift. Rather than replicating traditional digital banking models, the platform is offering a focused solution in a complex and regulated space, where domain expertise is as valuable as technological capability.
Tali Ventures’ growing portfolio demonstrates a preference for targeted investments that support national development goals. Its previous participation in a $10 million round for NorthLadder, a platform focused on device trade-ins, signaled an appetite for ventures that combine operational clarity with market relevance. The move into fintech infrastructure further underscores that approach.
Saudi Arabia’s Broader Fintech Vision
Saudi Arabia’s financial sector is undergoing a rapid transformation, underpinned by government-backed initiatives and increasing private capital involvement. Fintech, particularly in areas aligned with Islamic finance, is being positioned as a cornerstone of long-term growth.
The sukuk and debt markets are central to this strategy. As institutions and governments seek to diversify funding sources, platforms like Tarmeez can reduce transaction friction and bring greater efficiency to what has historically been a manual and fragmented process.
Efforts to modernize the sector are not just about boosting transaction volume — they’re about enabling transparency, compliance, and investor confidence. With SAR 954 billion as the 2030 target, the need for scalable, tech-enabled infrastructure is becoming more pressing.
Fintech firms that can deliver on those expectations without compromising on religious and legal standards are likely to find both support and opportunity in this evolving landscape.
A Measured Step With Long-Term Implications
While the size of the investment remains confidential, its implications are clear. Strategic capital is moving toward infrastructure — not just apps, wallets, or consumer-facing tools, but the underlying systems that make markets work.
For Tarmeez Capital, the backing from Tali Ventures marks a validation of its model and a new phase of growth. For the Saudi fintech market, it is another indication that the next phase of development will focus on platforms that serve national priorities with institutional precision.
Fintech is no longer just a buzzword in Saudi Arabia — it’s becoming a tool for policy execution and market modernization. Investments like this one are a sign that the momentum is not only real, but carefully guided.
