🌟 Editor's Note
We’ve got an exciting quarterly updates, and this time, we are experimenting with a new format that is more engaging and easier to digest.
🧠TL;DR
🚀 Launch with Alrajhi Bank
First major bank integration completed after incredible 4.5 months of work
🏬 Expansion into Offline Retail
Now available in brick-and-mortar furniture stores
🤝 New Bank Partnerships Secured
Signed with SNB Alahli Bank
🎯 Q2 Focus
Complete SNB Alahli integration, and scale merchant acquisition
🙏 How You Can Help
Intros to merchants (retail, luxury, health/insurance), with AOV>1000 SAR
🚀 AMWAL is now the first fintech to offer Alrajhi TASAHEAL installment services (fully automated)
Imagine the ability to get an instant 0% loan at the checkout from your bank.
Why it matters? AMWAL is building one of the first bank installment infrastructure in KSA, allowing banks to offer customers instant micro-loans at the checkout.
Bank integration is arduous: Working with banks involves months of negotiations and more months of technical integrations with different consulting and service providers companies
First mover advantage: We believe we are the first to capitalize on this new wave in bank financing, and can build incredible moat around this infrastructure.
Credit cards is the fastest growing segment of consumer debt in KSA in 2024, with outstanding balance reaching SAR 114 Bn
Why is it different from other BNPL providers?
No limits or caps (up to 95% of credit card limits)
Up to 24 months (3,6,9,12) monthly plans
Instant approvals - No apps, KYC, and automatic settlements (Banks debits the account with monthly installments )
The beauty is that AMWAL does NOT underwrite the loans or assume risk.
🏆 We went offline
We are expanding our offline footprint
🙈 75-80% of retail still happens offline
🌉 Furniture sector: You can try us now in stores such as Inhouse, DAZE, Elegant Home, Baytonia and many others.
🏆 Q2 Focus
Saudi National Bank: is the 2nd or first largest retail bank (depends on whom you ask) Signing with Alahli is a major milestone, and adds huge validation to our value proposition.
70% market share: Combined with Alrajhi bank, both banks command ~70% market share. This means than once live, almost 3 out of every 4 customers will be able to use AMWAL bank installment product.
🙏 ASK…
Introductions to retail or healthcare/insurance providers or aggregators
Our ideal customer profile is a retail merchant with a higher AOV (~1000 SAR), and healthy margins (+10%).
Feel free to use the short deck below or use the
