About Khwarizmi Ventures
Khwarizmi Ventures is a venture capital firm founded in 2018. It is primarily based out of Riyadh, Saudi Arabia. As of Sep 2026, Khwarizmi Ventures has invested in 44 companies. It primarily invests in Seed round in Saudi Arabia based startups. Its investments are spread across a wide range of sectors from Retail to Enterprise Applications and Consumer. Most recently it participated in the $***** Series A round of Erad Overall, Khwarizmi Ventures portfolio has seen 1 unicorn and 4 acquisitions, namely Tamara, Breezy HR and Fatura. A lot of funds co-invest with Khwarizmi Ventures, with names like Vision Ventures sharing a substantial percentage of its portfolio. Khwarizmi Ventures has team of 12 people including 4 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Deals in last 12 months
Khwarizmi Ventures' List of Top Investments
Khwarizmi Ventures has a portfolio of 44 companies, one of which is a Unicorn. Their most notable investments are in Melltoo and Rewaa.Their portfolio spans across Saudi Arabia, United Arab Emirates, Egypt and 8 more locations. They have invested in Retail, Enterprise Applications, Consumer and 13 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Khwarizmi Ventures:
1. Lean
Provider of open banking platform for financial data and payments. It offers account connections, data aggregation, and identity verification. The platform enriches financial data with insights and facilitates integrated payments. It provides solutions for KYC, AML, credit risk scoring, and finance management. The platform also supports account top-ups, invoicing, e-commerce payments, refunds, and loan disbursement.
Key facts about Lean
- Founded Year: 2019
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $104M
- Employee Count: 165 as on Jul 31, 2026
- Investors: Global Founders Capital, Human Capital and 29 Others
- Latest Funding Round: Series B, Mar 11, 2025, $*****
- Highlight: Editors' Pick
2. Hala
Halalah is an app-based wallet for consumers and business payments. It features a mobile payment platform for consumers & businesses to offer services such as deposit accounts, online/offline payment, money transfers, mobile recharge, and more. It also offers a marketplace to users for purchasing vouchers and digital products. It can be accessed through the app that is available on iOS and Android devices.
Key facts about Hala
- Founded Year: 2018
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $168M
- Employee Count: 737 as on Sep 30, 2026
- Investors: Mubadala, QED Investors and 21 Others
- Latest Funding Round: Series B, Sep 15, 2025, $*****
- Highlight: Editors' Pick
3. Calo
Internet first restaurants delivering healthy meals. It allows users to customize plans according to their needs. It dish offers to include a sweet potato bowl, pancake, burger bowl, and more. It also analyzes the nutritional needs through the nutritionist-approved algorithms. The company offers mobile applications for Android and iOS platforms.
Key facts about Calo
- Founded Year: 2019
- Location: Bahrain
- Stage: Series B
- Total Funding till date: $90.5M
- Employee Count: 928 as on Sep 30, 2026
- Investors: Khwarizmi Ventures, STV and 9 Others
- Latest Funding Round: Series B, Jul 29, 2025, $*****
- Highlight: Editors' Pick
4. Tamara
Provider of buy-now-pay-later payment solutions. It allows shoppers to split purchases into installments, offering flexible payment options at various retail locations. The service is designed to be simple and secure, with a focus on Sharia compliance. It facilitates transactions both online and in physical stores.
Key facts about Tamara
- Founded Year: 2020
- Location: Riyadh (Saudi Arabia)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $556M
- Employee Count: 1,497 as on Aug 31, 2026
- Investors: Goldman Sachs, Citi and 16 Others
- Latest Funding Round: Conventional Debt, Sep 15, 2025, $*****
- Highlight: Editors' Pick
5. RemotePass
Global payments solutions for businesses. It features tools for onboarding & processing payments to international employees, contractors, and suppliers. It provides solutions to automate invoices, manage workflows, and make payments across borders.
Key facts about RemotePass
- Founded Year: 2019
- Location: Dubai (United Arab Emirates)
- Stage: Series B
- Total Funding till date: $22.9M
- Employee Count: 129 as on Aug 31, 2026
- Investors: BECO Capital, COTU Ventures and 13 Others
- Latest Funding Round: Series B, May 20, 2026, $*****
- Highlight: Editors' Pick
Khwarizmi Ventures' Year-on-Year Investment Trends
Khwarizmi Ventures has invested in 44 companies over the last 7 years, with an average of 4 new investments annually in the last 5 years. In 2025, it made 6 investments, while as of Sep 2026, it has made 4 investments in this year. Its most recent first time investment was in Hala and most recent follow-on round was in Erad.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 4 | 4 |
2025 | 2 | 4 | 6 |
2024 | 2 | 4 | 6 |
2023 | 3 | 1 | 4 |
2022 | 11 | 3 | 14 |
2021 | 6 | 0 | 6 |
2020 | 1 | 0 | 1 |
2019 | 1 | 0 | 1 |
Khwarizmi Ventures' Investments by Stage
Khwarizmi Ventures has made 17 investments in Seed stage with an average round size of $5.5M, 8 investments in Series A stage with an average round size of $16.2M and 1 investment in Series B stage with an average round size of $157M.Stage of entry | No. of Investments |
|---|---|
Seed | 17 |
Series A | 8 |
Series B | 1 |
Note: We have considered here, only first round of investments
Khwarizmi Ventures' Investments by Sector
Khwarizmi Ventures has a diverse portfolio, with companies operating in the Retail, Consumer, Enterprise Applications, FinTech and Vertical SaaS. Notably, it has invested in 44 Tech companies, 29 Enterprise (B2B) companies, 20 Consumer (B2C) companies and at least 18 companies focusing on Software.Sector | No. of Investments |
|---|---|
Retail | 13 |
Consumer | 11 |
Enterprise Applications | 9 |
FinTech | 9 |
Vertical SaaS | 4 |
Others | 11 |
Note: We have considered here, only first round of investments
Khwarizmi Ventures' Investments by Geography
Khwarizmi Ventures has made most investments in Saudi Arabia (11), followed by Egypt where it has made 6 investments.Country | No. of Investments |
|---|---|
Saudi Arabia | 11 |
Egypt | 6 |
United Arab Emirates | 4 |
Bahrain | 1 |
Jordan | 1 |
Others | 5 |
Note: We have considered here, only first round of investments
Khwarizmi Ventures' recent investments
Khwarizmi Ventures has made 4 investments in 2026 so far. Erad and RemotePass are the latest among them.Here are the most recent investments by Khwarizmi Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 28, 2026 | Saudi Arabia | Series A | 5216 | ||
May 20, 2026 | United Arab Emirates | Series B | 4695 | [+4] | |
Apr 16, 2026 | Saudi Arabia | Series A | 5646 | [+3] | |
Feb 11, 2026 | Saudi Arabia | Series A | 2417 | [+8] | |
Oct 15, 2025 | Morocco | Series A | 9157 | [+18] |
Unicorns in Khwarizmi Ventures' Portfolio
Khwarizmi Ventures has 1 unicorn in its portfolio - Tamara. The most recent unicorn in their portfolio is Tamara which became a unicorn in 2023, 2 years after Khwarizmi Ventures first invested in it.Here is a list of unicorns in Khwarizmi Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
65 | Provider of buy-now-pay-later payment solutions | 2020 | Riyadh | Series C | gnrffjq |
Acquired companies in Khwarizmi Ventures' Portfolio
4 companies from Khwarizmi Ventures' portfolio have been acquired. The most recent acquisition was Fatura in May 2025 by Maxab for $*****.Here are Khwarizmi Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 19, 2025 | Jul 24, 2021 | Series A | 4320 | |
Aug 15, 2022 | Jan 28, 2019 | Seed | 6508 | |
Jan 09, 2022 | Aug 03, 2021 | Series A | 9959 | |
Apr 17, 2019 | Feb 04, 2022 | Seed | 9253 |
Team profile of Khwarizmi Ventures
Khwarizmi Ventures has a team of 12 members including 4 Partners located in Saudi Arabia, United States and 1 more location. Khwarizmi Ventures' team does not sit on the board of any company as of now.Here is a list of top team members in Khwarizmi Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Saudi Arabia | - | ||
Partner | Saudi Arabia | - | - | |
Partner | United States | - | ||
Partner | Cairo | - |
Co-investors of Khwarizmi Ventures
Over the past 7 years, 209 investors have co-invested in Khwarizmi Ventures's portfolio companies. This includes funds and angels.
- Invested before Khwarizmi Ventures: 500 Global, Y Combinator and 55 others have invested in rounds before Khwarizmi Ventures. There are 3 companies where 500 Global has invested before Khwarizmi Ventures and 3 companies where Y Combinator has invested before Khwarizmi Ventures.
- Top Co-investors of Khwarizmi Ventures: 92 investors entered a company along with Khwarizmi Ventures. These include investors like Vision Ventures (4 companies).
- Invested after Khwarizmi Ventures: A total of 60 investors have invested in Khwarizmi Ventures's portfolio after their investments. Top Investors include AlJazira Capital (3 companies), Oraseya Capital (3 companies) and Sanabil (3 companies).
Recent News related to Khwarizmi Ventures
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RemotePass Secures $17.4M Series B to Expand Global Payroll and Hiring PlatformTech.eu•May 20, 2026•RemotePass, EBRD, EBRD, Oraseya Capital and 5 others
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DisrupTech Ventures Invests in Chari, Expands Fintech Footprint Beyond EgyptLAFFAZ•Nov 05, 2025•H&S Invest Holding, Afrimobility, DisrupTech, Axian and 17 others
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TPG, Sanabil lead $157mln fundraise for Saudi fintech HALAZawya•Sep 15, 2025•Tpg, Hala, Sanabil, TPG and 14 others
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Saudi Fashion Marketplace Aya Secures $1.6 Million in Seed FundingRasmal•Mar 10, 2025•Aya Healthcare, Khwarizmi Ventures, Raed Ventures, Joa Capital and 1 other
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Saudi fashion platform Aya secures $1.6 million in seed fundingAssiyaq•Mar 10, 2025•Khwarizmi Ventures, Raed Ventures, Joa Capital, FENA Holdings
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Egypt-Based Khazna Secures $16 Million to Expand Into Saudi ArabiaCairoScene•Mar 04, 2025•Khazna, Quona, Speedinvest, AlJazira Capital and 5 others
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Khazna, an Egyptian fintech startup, has raised $16 million in its pre-Series B funding roundTechgist Africa•Feb 16, 2025•Khazna, SANAD, AlJazira Capital, Khwarizmi Ventures and 5 others
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To support Saudi expansion, Khazna secures $16 M prior to Series B funding roundIncubees•Feb 06, 2025•Khazna, Sanad Cash, Arab National Bank, Khwarizmi Ventures and 6 others
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Egyptian fintech Khazna secures $16m pre-series BStartupNews•Feb 05, 2025•Khazna, SANAD, ANB Capital, AlJazira Capital and 10 others
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Khazna secures $16 million in pre-Series B funding roundMy Startup World•Feb 05, 2025•Khazna, Sanad Cash, Arab National Bank, AlJazira Capital and 8 others
