AZM FinTech

Riyadh-based fintech authorised by the Saudi Central Bank to provide payment services, behind the Edaat billing and collections platform. Saudi Azm signed a non-binding MoU in August 2026 to study acquiring all of it.

Industry: Payments and fintech platforms | Location: Riyadh, Saudi Arabia | Founded: 2018

About AZM FinTech

AZM FinTech, also written Azm Financial Technology, is a Riyadh-based Saudi fintech licensed by the Saudi Central Bank. It builds, develops and integrates financial solutions for businesses, and its products include Edaat, a billing and collections platform connected to the SADAD payment system. A 2025 MoneyHash partnership allowed businesses using MoneyHash to connect to Edaat's payment gateway and reach SADAD. The company also offers solutions aimed at small and medium-sized enterprises, according to Mubasher. In August 2026 Saudi Azm for Communication and Information Technology, an IT and consulting firm listed on the Tadawul under the ticker 7211, announced that it had signed a non-binding memorandum of understanding to study acquiring 100 percent of AZM FinTech, which is a closed joint-stock company. Mubasher dates the signing to 1 August 2026, while Argaam gives 2 August. Under the memorandum Saudi Azm will carry out legal, financial, tax and zakat due diligence, after which the parties would assess the valuation and negotiate final terms. The memorandum includes confidentiality obligations and exclusivity during negotiations. Alistithmar Capital has been appointed as Saudi Azm's financial adviser on the proposed deal. No price has been set, and completion depends on the due diligence and valuation, the necessary regulatory and contractual approvals and the signing of final binding agreements. Saudi Azm said the memorandum has no financial impact for now and that it would announce material developments. The transaction involves related parties because the two companies share owners and directors. Saudi Azm chairman Majed Alosaimi is also a shareholder and chairman of AZM FinTech, and Ali Albalaa, a Saudi Azm board member, is a shareholder and board member of both companies. The proposed deal would move Saudi Azm, which already builds and operates fintech platforms for clients including government bodies and banks, into owning a licensed payments entity. Saudi Azm's own subsidiary Wasel received final approval from the Saudi Central Bank in August 2026 to act as a digital brokerage platform for financing companies, a separate licence from AZM FinTech's. Because the memorandum is non-binding, the acquisition may not proceed.

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