A Kuwait-based fintech, Krti, has closed a pre-seed funding round of $1.5 million.
The fund was from Core Vision Investment under the Financial Academy Financial Technology Investment Program.
Founded in 2022 by Abdulrahman Al Hammadi, Naser Boresli and Abdullah AlBaker, Krti provides payment solutions for both online merchants and shoppers to empower the e-commerce sector.
The new funding will propel Krti’s launch in Kuwait and Saudi Arabia.
Announcing the fund in a press release, the company said, “Krti, a Kuwait-based fintech, has announced the closure of its pre-seed investment round with Core Vision Investment (KSA) in San Francisco Silicon Valley, under the Financial Academy Financial Technology Investment Programme, with a value of $1.5 million.
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“This step is part of the company’s readiness to launch its online application in Kuwait and Saudi Arabia.
“Krti aims to provide innovative technology solutions in financial technology that add value to customers through a unique and distinctive loyalty programme that allows users the highest possible benefit from all their bank cards.”
Krti’s CEO, Abdulrahman Al Hammadi, said: “Closing the investment round is a pivotal step towards achieving our goals in providing leading technology solutions in the field of financial technology. We believe that the application of Krti will make a qualitative shift in the customer experience and enable them to make the most of their bank cards.”
Cor Vision CEO Faisal Al Abdulsalam commented on the round, saying: “Our investment in Karti reflects our commitment to supporting startups that provide innovative technical solutions that enhance the consumer experience.
“We are excited to support Krti’s journey towards growth and expansion of its services in the region.”
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