Saudi Arabian telecommunications company STC Group has invested in Tarmeez Capital, a local fintech startup dedicated to offering sukuk and debt instruments.

Tali Ventures, STC Group’s corporate venture capital arm, invested an undisclosed amount in Tarmeez.

Tarmeez is licensed by the Capital Market Authority and provides digital financing services for businesses.

Its platform allows institutional and retail investors to access sharia-compliant sukuk products to raise corporate finance and fund real estate deals.

It claims its technology allows for sukuk issuance up to seven times faster than traditional channels.

Sukuk is a form of bond that complies with Islamic laws that prohibit the charging or paying of interest.

Tarmeez said the new funding will help to scale its platform, broaden its offerings, and deliver advanced financial solutions across the Saudi market.

The fintech sector is growing rapidly in Saudi Arabia. The number of fintech companies in the country grew from fewer than 20 in 2018 to more than 200 by 2024. 

As part of the Vision 2030 economic diversification programme, Saudi Arabia aims to host 525 local fintech companies by the end of the decade.

https://www.agbi.com/tech/2025/07/stc-group-invests-in-islamic-fintech-startup/