Latham & Watkins has advised Safqah Capital, a Saudi Arabia-based fintech/proptech platform, on its US$15.2 million seed round. The funding round was led by Shorooq, with participation from anb Seed Fund and Rua Growth Fund, alongside Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and others.
The funds will be used to expand financing capacity, scale the digital platform, and build more advanced AI-driven risk and underwriting tools to support rising demand from developers.
The Latham team was led by Dubai partners Eyad Latif and Omar Maayeh, with associates Rehab Ahmed Abdelwahab, Shane Aly Visram, and Shiva Dakhili.
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