- Kuwait-based fintech Krti secures $1.5 million in pre-Seed funding from Core Vision Investment, aiming to launch in Kuwait and Saudi Arabia.
- Krti offers innovative payment solutions for online merchants and shoppers, featuring a unique loyalty program to maximize bank card benefits.
- The investment, part of the Financial Academy Financial Technology Investment Programme, marks a significant step in Krti’s regional expansion plans.
Kuwait-based startup Krti has successfully closed a pre-Seed funding round of $1.5 million. The investment comes from Core Vision Investment, a Saudi Arabian firm, under the auspices of the Financial Academy Financial Technology Investment Programme. This funding marks a pivotal moment for Krti as it prepares to launch its innovative online application in both Kuwait and Saudi Arabia.
Founded in 2022 by the visionary trio of Abdulrahman Al Hammadi, Naser Boresli, and Abdullah AlBaker, Krti is positioning itself at the forefront of the region’s rapidly evolving e-commerce landscape. The company’s mission is clear: to provide cutting-edge payment solutions that cater to both online merchants and shoppers, thereby empowering the e-commerce sector in the GCC.
What sets Krti apart in the competitive fintech arena is its unique approach to customer loyalty. The startup has developed a distinctive loyalty program that allows users to maximize the benefits of all their bank cards. This innovative feature is expected to be a game-changer in how consumers interact with and benefit from their various banking products.
Abdulrahman Al Hammadi, CEO of Krti, expressed his enthusiasm about the successful funding round. “Closing this investment round is a crucial step towards achieving our goals in providing leading technology solutions in the field of financial technology,” he stated. Al Hammadi believes that Krti’s application will usher in a qualitative shift in customer experience, enabling users to extract the maximum value from their bank cards.
The investment from Core Vision Investment is not just a financial boost but also a strong vote of confidence in Krti’s vision and potential. Faisal Al Abdulsalam, CEO of Core Vision, commented on the investment, saying, “Our investment in Krti reflects our commitment to supporting startups that provide innovative technical solutions that enhance the consumer experience. We are excited to support Krti’s journey towards growth and expansion of its services in the region.”
This funding round is particularly noteworthy as it took place in San Francisco’s Silicon Valley, highlighting the global appeal and potential of Krti’s technology. The involvement of the Financial Academy Financial Technology Investment Programme also underscores the growing importance of fintech in the GCC’s economic diversification and modernization efforts.
As Krti prepares to launch its services in Kuwait and Saudi Arabia, the fintech landscape in these countries is poised for transformation. The company’s solutions are expected to address key pain points in the e-commerce payment ecosystem, providing a seamless and rewarding experience for both merchants and consumers.
The success of Krti’s pre-Seed round also serves as an inspiration for other fintech startups in the region. It demonstrates the willingness of investors to back innovative ideas that have the potential to disrupt traditional financial services and create new value for consumers.
As the GCC continues to push towards digital transformation and economic diversification, companies like Krti are playing a crucial role. By introducing advanced financial technologies and fostering a more robust e-commerce ecosystem, Krti is contributing to the broader goals of creating a more dynamic and diversified economy in the region.
With this substantial funding secured, all eyes will be on Krti as it moves forward with its launch plans. The coming months will be critical as the company works to implement its technology, attract users, and prove its concept in two of the GCC’s most important markets. If successful, Krti could pave the way for a new era of financial services in the region, one that is more inclusive, efficient, and rewarding for all stakeholders in the digital economy.
Also Read: Top 10 Investors in Kuwait for Startups | Best Angel & VC Firms
Follow us on Instagram, LinkedIn, and Twitter for startup & business news and inspiring stories of MENA businesses, entrepreneurs, startups, innovators, investors, and change-makers.
To report any issue or error in the story, please email us editor [at] rasmal [dot] com.
