PIF-Backed ewpartners Leads $48 Million Investment to Boost Saudi Fintech Growth and IPO Plans

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PIF-Backed ewpartners Leads $48 Million Investment to Boost Saudi Fintech Growth and IPO Plans

ewpartners, the first international investment firm to establish a cross-border platform between the Middle East and Asia, has announced its role as the lead investor in a $48 million strategic investment in Valuable Capital Group. The announcement was made during the PIF Private Sector Forum in Riyadh, an event designed to foster collaboration between Saudi Arabia’s Public Investment Fund (PIF) and private sector entities to drive national strategic initiatives.

The investment aligns with Vision 2030’s objective of expanding the fintech sector and economic diversification, with the fintech industry expected to contribute 4.4% to Saudi Arabia’s GDP by 2030.

Sahm Capital's Rapid Rise in the Saudi Financial Sector

Valuable Capital Group’s subsidiary, Sahm Capital, has established itself as a key player in Saudi Arabia’s financial sector, promoting financial inclusion and innovation. The company is the first fintech-driven financial firm to secure a full license from the Capital Market Authority (CMA) and offers a comprehensive suite of financial services, including trading, advisory, custody, investment management, and fund operations.

Since its launch, Sahm Capital has demonstrated remarkable growth, surpassing 1 million users within its first year. The company’s rapid expansion reflects the growing demand for digital financial solutions in Saudi Arabia.

Saudi Arabia’s Capital Market: A Fintech Growth Driver

The Saudi Stock Exchange (Tadawul) plays a pivotal role in the Middle East’s financial ecosystem, ranking among the world’s top 10 exchanges by market capitalization and contributing 76% of the region’s total market value. As the most active IPO market in the region, Tadawul continues to attract global investors, with high-profile listings from Aramco subsidiaries, Dr. Soliman Hospital Group, and leading fintech, healthcare, and consumer firms.

As part of its global expansion strategy, Tadawul has strengthened ties with Greater China markets, launching Asia’s first ETF tracking Saudi equities and signing an MOU with the Hong Kong Exchange (HKEX). These initiatives reinforce Tadawul’s international standing and create new growth opportunities for Saudi fintech firms like Sahm Capital.

ewpartners' Investment to Drive Sahm Capital’s Expansion

ewpartners’ strategic investment will accelerate Sahm Capital’s growth and enhance Valuable Capital Group’s global financial service capabilities. Leveraging ewpartners’ expertise in connecting Asian and Middle Eastern capital markets and Valuable Capital Group’s global financial experience, the investment will further strengthen Sahm Capital’s presence in Saudi Arabia.

Sahm Capital is currently the fastest-growing Tadawul member, improving its market value ranking by 50% and securing sixth place in internet trades on the Saudi Exchange Main Market as of December 2024. The company has also made significant strides in Islamic finance, positioning itself to serve a broader audience across the Arab world.

With full CMA licensing, Sahm Capital plans to expand beyond brokerage services into investment banking, wealth management, and asset management. Supported by Valuable Capital Group’s regulatory expertise in Hong Kong and Singapore, Sahm Capital is well-positioned to enhance financial services across these regions, facilitating cross-border investment flows and reinforcing Saudi Arabia’s ambition to become a digital-driven financial hub.

Jessica Wong, Founder and Managing Partner of ewpartners, emphasized the investment’s strategic significance: “As part of PIF’s portfolio, our investment in Valuable Capital Group underscores our commitment to supporting Saudi Arabia’s Vision 2030 agenda and advancing the Kingdom’s fintech ecosystem. We firmly believe in the transformative potential of fintech to revolutionize financial services and drive economic growth. Sahm Capital’s remarkable achievements in Saudi Arabia exemplify the synergy between innovation and strategic vision, and we are excited to support their continued success as they pave the way for a more inclusive and dynamic financial future.”

Jess Cheung, CEO of Valuable Capital Group, expressed enthusiasm about the partnership: “We are thrilled to partner with ewpartners as we embark on the next chapter of our growth. This strategic investment reinforces our competitive edge and first-mover advantage, enabling us to deepen our focus on product development, R&D, security infrastructure, and fintech solutions. It accelerates our capacity to provide a comprehensive suite of high-quality services with enhanced excellence.”