Saudi Arabia-based fintech startup Vrtx has raised $3.6 million in pre-seed funding to help businesses incorporate financial services into their products without building the underlying infrastructure themselves.
The company secured the investment from SC Ventures, Sadu Capital, BYLD, Suhail Ventures, F6 Ventures, TAZ Investment and Palm Ventures.
Vrtx provides infrastructure for digital wallets, payments, card issuance, transfers, and transaction processing. Its platform enables companies to introduce these services without building separate financial systems and payment connections from scratch.
Vrtx has secured in-principle approval from the Saudi Central Bank for an Electronic Money Institution license, which brings the fintech closer to operating under the kingdom’s regulatory framework for digital financial services.
For Black and Brown founders, Vrtx’s model brings an infrastructure option for companies seeking to embed financial services into existing platforms. However, its availability and licensing requirements outside Saudi Arabia remain to be established
