🧠TL;DR
🚀 Welcoming Salica investment (ORYX fund) to Amwal
ORYX joins Amwal pre-A round.
🚀 Launch with Saudi National Bank (SNB)
Second major bank integration completed after some 6 months of work.
🏬 Expansion into healthcare Retail
Strong proposition with outpatient clinics (dental & cosmetic)
🤝 New Bank Partnerships Secured
Signed with Alinma Bank
🎯 Q3 Focus
Scale merchant acquisition & product developments
🚀 SNB is now live on AMWAL.
We are now the first & only fintech to offer Alrajhi and SNB installment services (fully automated)
70% market share: Combined with Alrajhi bank, both banks command ~70% market share. This means that, almost 3 out of every 4 customers will be able to use AMWAL bank installment product.
Huge milestone: live 3 months ahead of schedule.
Business model: All the deals are structured in revenue-share model + nominal integration/upgrade fees that could be waived.
🤝 Welcoming Alinma bank to AMWAL installments
We signed with Alinma Bank, an existing investor and long-term strategic partner, to allow their customers to split their purchases into easy monthly installments.
🏆 We are expanding into healthcare 🩺
Amwal poster in Alhejin clinic in Jeddah
We have signed 9 clinics just last month
👩⚕️ Cosmetic & dental clinics are traditionally underserved by insurance.
💳 Average ticket value is 3000 SAR
🩺 Ticket items: You can try us now in Bassafar, Alhajin clinic, DAM dental and others
🏆 Q3 Focus
Merchant acquisition: We are working with our current and new banking partners to refine our GTM. This includes
Aligning with banks’ marketing and acquiring teams
Simplifying pricing strategies
Partnering with merchant acquirers and payment gateways
Product enhancement: So much of the product is being revamped to enable the best in-class experience for both the end-users and also the merchants. A major ask from multiple merchants is offline POS/ERP integration to enable the cashiers to seamlessly chose AMWAL as a payment method in the stores.
🙏 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
