THE MIDDLE EAST’S
45. BwaTech *
Description: Open banking and finance management
Headquarters: Saudi Arabia
Date of Establishment: 2020
Founders: Hashem Alhekail, Rasha Abdullah Aloraini, Fatih Kihtir
BwaTech enables corporates to manage financial operations through a unified platform connecting them with banks. It offers cash management, smart collection, digital letters of guarantee, IBAN verification, open banking, and enterprise reconciliation services. In September 2025, the company raised $16 million in funding led by Sharaka Financial. In 2025, it expanded its banking network to 15 banks and onboarded 130 new corporate clients, bringing its total client base to more than 700. It currently serves notable entities including Saudi Energy, Saudi Water Authority, Ministry of Tourism, Ministry of Industry and Mineral Resources, MODON, NAQUA, Derayah Financial, and Maaden, among others.