Tweeq
Riyadh-based digital wallet and spending-account fintech, supervised by the Saudi Central Bank. Founded in 2020; Tabby announced an agreement to acquire it in September 2024.
Industry: Digital wallet and spending accounts | Location: Riyadh, Saudi Arabia | Founded: 2020 | Total Funding: Seven-figure USD seed round (2021, amount undisclosed)
About Tweeq
Tweeq is a Saudi financial technology company that offers a digital spending account through a mobile app for iPhone and Android. Customers can send money to other users by username, pay with a card co-branded with Mastercard and mada, and track spending by category and merchant. The company is based in Riyadh and says it is licensed and supervised by the Saudi Central Bank.
Tweeq was founded in early 2020 by banking and technology professionals. Wamda named four founders in June 2021, among them Saeed Albuhairi, co-founder and chief executive. Its September 2024 coverage named Albuhairi and Abdulaziz Almalki as the founders. Tabby described Tweeq as one of the early electronic money institutions licensed in Saudi Arabia, holding a Saudi Central Bank licence as a digital wallet.
The app offers instant transfers between users, a rewards card with cashback and partner perks such as airport lounge access, controls for contactless, online, cash withdrawal and international payments, and Apple Pay. Its website describes Tweeq as a principal member of Mastercard and of Saudi Payments and says it holds PCI certification. At its 2021 funding announcement, Tweeq said it had an exclusive partnership with Mastercard and Paymentology.
In June 2021, Tweeq announced an investment round co-led by STV and Raed Ventures, which the announcement called a seven-figure round without giving the amount. The company said the money would fund product development for a Saudi launch, followed by expansion across the wider Middle East and North Africa, and that it was seeking Saudi Central Bank licences and approvals.
On 3 September 2024, at the 24 Fintech event in Riyadh, Tabby announced a definitive agreement to acquire Tweeq. The price was not disclosed and the deal was subject to regulatory approvals. Tabby said Tweeq would continue to operate independently. A TechScoop article of 30 June 2026 refers to Tabby integrating digital wallet capabilities after the acquisition. Tweeq's website carries a notice that wallet services were temporarily suspended from 10 December 2025 until further notice.
Leadership
- Saeed Albuhairi, Co-founder and chief executive
- Abdulaziz Almalki, Co-founder