Tawaref acquires Amaana.ai to bolster AI-driven solutions for MENA tech community
Tawaref acquires Amaana.ai to bolster AI-driven solutions for MENA tech community
- Saudi Arabia-based investment community Tawaref has acquired Amaana.ai, a Saudi company facilitating business entry into Saudi Arabia, for an undisclosed value.
- Founded in 2020 by Saeed Al Ansari, Tawaref is a tech investment community that finances top regional startups and offers entrepreneurial services. Amaana.ai, based in Riyadh, provides AI solutions to automate the process of market entry to Saudi Arabia.
- This acquisition strengthens Tawaref’s ability to deliver innovative financial and technological solutions, expanding the value proposition for companies seeking to grow and thrive in the Saudi market.
Press release:
Tawaref,a Saudi-based investment community providing startup services across the MENA, is proud to announce the acquisition of Amaana.ai, a cutting-edge artificial intelligence solutions provider. This strategic acquisition will enhance Tawaref’s capabilities in offering comprehensive, AI-driven solutions to its growing portfolio of startups and investors.
Amaana.ai, recognised for its streamlined services facilitating business entry into Saudi Arabia, brings deep expertise in automating essential processes like licencing and banking setup. This acquisition strengthens Tawaref’s ability to deliver innovative financial and technological solutions, expanding the value proposition for companies seeking to grow and thrive in the dynamic Saudi market. The newly integrated capabilities will focus on collaboration, leveraging AI technologies to enhance services across various industries.
financial compliance. Its digital-first approach, coupled with unparalleled government connections and AI-powered solutions, will now be integrated into Tawaref’s offerings.
Saeed Al Ansari, CEO of Tawaref, expressed: “The integration of Amaana.ai allows us to elevate our service offerings and reinforce our mission to support startups with advanced, AI-driven solutions. By blending our expertise, we’re providing smarter and more efficient solutions that will help our clients navigate the Saudi market with ease.”
Su Le, CEO of Amaana.ai, will transition to Advisor at Tawaref, added: “This acquisition marks a significant milestone, uniting two companies with a shared vision of innovation and market leadership. Together, we’re empowering entrepreneurs with the tools they need to accelerate their success in one of the world’s fastest-growing markets.”
Njoud AlYousef, Tim Abbott, and Chris Hafner, the other co-founders of Amaana.ai and fellow advisors on this initiative, echoed Su’s sentiment, emphasising the strategic importance of this acquisition in encouraging entrepreneurship and innovation.
Tawaref’s expanded services now include AI-driven business solutions, company formation, legal and accounting services, and government registration through the Saudi Landing Program. These services, enhanced by Amaana.ai’s capabilities, position Tawaref as a trusted partner for startups and established businesses alike.
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