Wadaie
Saudi fintech founded in 2022 that lets individuals and organisations place Sharia-compliant time deposits with Saudi banks through one platform. It raised a pre-seed round in 2023 and a seed round led by VentureSouq in 2025.
Industry: Time-deposit platform | Location: Saudi Arabia | Founded: 2022
About Wadaie
Wadaie is a Saudi financial technology company that lets depositors place Sharia-compliant time deposits with Saudi banks through one platform, without opening a separate account at each bank. Its website names Wadaie Financial Technology Company as the operating entity, under commercial registration 1010831473, and says individuals and legal entities such as companies, funds, charities and associations can use it.
Abdullah Alandas, Rayan Altuwayjiri and Abdulrahman Alhawas founded the company in 2022. Wamda and Arab News described Alandas as chief executive in 2023. Forbes Middle East ranked Wadaie 49th in its Fintech 50 list for 2025 and reported 29,254 clients as of February 2025.
The site lists deposit terms from one day to 24 months, daily profit credited to the balance and a minimum of SAR 1,000, with custom investments from SAR 5 million and Zakat-exempt options. On early withdrawal the principal is returned, and profit may be returned in part or in full depending on bank approval. The site names a Sharia committee chaired by Prof. Dr. Yusuf bin Abdullah Al-Shubaily, with Abdulaziz bin Saleh Al-Dumaiji as a member, and publishes a liquidity calculator.
According to its terms page, the Saudi Central Bank has authorised Wadaie to operate a trial platform for collecting time deposits under the central bank's regulatory sandbox, and the company says it is subject to the bank's supervision.
Wamda reported on 9 August 2023 that Wadaie had raised a pre-seed round led by RZM Investments, with Bunat Ventures and Saudi angel investors taking part; Arab News also reported the round. On 15 September 2025 Wamda reported a seed round led by VentureSouq, with Graphene Ventures, RZM Investments, Arab National Bank and Alinma Bank. The amounts were not disclosed in either report. The company said the seed money would go to regulatory compliance, cybersecurity, technology infrastructure, product expansion and customer experience, and to deeper partnerships with banks.
A TechScoop article of 17 June 2026 describes the platform as a way to compare deposit offers from several banks by maturity, currency, early-withdrawal terms and Sharia compliance.
Leadership
- Abdullah Alandas, Co-founder and Chief Executive Officer
- Rayan Altuwayjiri, Co-founder
- Abdulrahman Alhawas, Co-founder