Raya Holding For Financial Investments was founded in 1999 through the merger of seven national IT companies. The investment conglomerate manages 39 subsidiaries. El-Pharonia For Real Estate Investment Company is the main shareholder in the company, with a 26.6% stake. The company operates in different areas, including IT, food and beverage, land transportation, and electronic payments. It has affiliated offices in Saudi Arabia, the U.A.E., Poland, and Nigeria. It employs more than 14,000 people. In May 2021, the company sold one of its subsidiaries, BariQ for Advanced Manufacturing, to Intro for Waste Management, in a deal worth $26.7 million.