THIQAH

What THIQAH does

THIQAH (ثقة) is a Riyadh-headquartered Saudi digital transformation company founded in 2012, providing E-Services, Professional Services, and Data Services to government ministries and large enterprises in Saudi Arabia and selectively in international markets (Brazil, Oman, UAE). The company operates through two primary divisions — Smart Solutions (digital technologies and innovative business models) and Business Services (operational solutions, professional services, and digital solutions) — supported by a workforce of 501-1,000 employees and offices in Riyadh and Jeddah.

THIQAH's core technology stack combines AI, cloud computing, IoT, blockchain, and Arabic NLP to deliver a portfolio of 60+ proprietary platforms including Wathq (real-time data verification across 7+ government sources), Almwathiq (digital notarization with 5,000+ notaries), SABER (product conformity), 180 Seconds (commercial registry), SDR (pharmaceutical registration with SFDA), E-Mazad (electronic auctions), Maroof (e-commerce verification), Aamaly (financial operations), and iHealth (AI-powered digital quality monitoring). The company has processed over 49 million operations serving more than 10 million beneficiaries across 26 countries through 100+ partnerships, including strategic alliances with Google Cloud (cloud infrastructure and AI), KAUST (R&D in AI and Arabic NLP), and integration with Saudi regulatory authorities.

THIQAH's revenue model combines multi-year government contracts (subscription and project-based), transaction fees on platform usage (data verification queries, product certifications, commercial registrations), and professional/digital transformation services. Distribution is primarily direct enterprise and government sales supplemented by self-service public-facing portals and API integrations. As of January 2025, PIF announced the sale of THIQAH to Elm (a Tadawul-listed Saudi digital services company) for $907 million, pending regulatory approval — a transaction that would integrate THIQAH's platforms into Elm's broader digital services portfolio.

Name

THIQAH

Legal name

Thiqah Business Services Company

Website

https://thiqah.sa

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

501–1,000 employees

Short description

THIQAH is a Riyadh-based Saudi digital transformation company founded in 2012 that provides E-Services, professional services, and data platforms to government ministries and enterprises through 60+ proprietary platforms serving 10M+ beneficiaries.

Ownership category

akta.pro rank

Product category

Government Digital Services

NAICS

Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512), Custom Computer Programming Services (541511), Computer Systems Design and Related Services (5415), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372), Services-Computer Programming Services (7371)

akta.pro primary industry

ITSM Platform Implementation & Administration (ServiceNow/JSM/BMC/etc.) (BPAEAJAC)

akta.pro secondary industries

Digital Experience Monitoring & Management (DEX/DEM, AIOps for EUC) (BPAEAIAF), Managed File Transfer (MFT) & B2B Integration (EDI) (HDAEAIAE)

Keywords

• Government digital services
• Digital transformation platforms
• Digital trust services
• Electronic notarization services
• Data verification platforms

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Smart Solutions: Digital technology and business model innovation services including AI, cloud, IoT, and NLP-powered platforms for government and private sector transformation. Services span product safety, fintech, commercial, data & technology, quality of life, and justice sectors.
2. Business Services: Business process outsourcing including financial services, accounting, logistics, professional solutions, and digital solutions. Includes operational services, professional services, and digital transformation consulting.
3. Platform Services: Government digital trust platforms enabling data verification (Wathq), electronic notarization (Almwathiq), product certification (SABER), commercial registry (180 Seconds), and pharmaceutical registration (SDR).
4. Digital Ventures: Digital products and platforms for enterprise clients including Aamaly financial platform and sector-specific solutions serving 2+ million users and processing millions of operations.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels10 records

Core offering

THIQAH provides digital transformation, data verification, and business process services to government and private sector clients through two divisions: Smart Solutions (60+ proprietary digital platforms including Wathq, Almwathiq, SABER, 180 Seconds, SDR, E-Mazad, Maroof, Aamaly, and iHealth) and Business Services (operational outsourcing, professional services, and digital solutions). Its platforms serve sectors including product safety, fintech, commerce, justice, real estate, and healthcare, processing over 49 million operations for 10 million+ beneficiaries.

Product overview

THIQAH is a Saudi digital transformation company offering a comprehensive portfolio of smart solutions and business services through two main divisions: Smart Solutions (digital technologies and innovative business models) and Business Services (operational solutions, professional services, and digital solutions). The product portfolio includes government service platforms like SABER for product safety certification, Wathq for data verification, Maroof for e-commerce verification, Almuthawith for digital notary services, 180 Seconds for commercial registration, SDR for drug registration, and E-Mazad for electronic auctions; financial solutions including Aamaly for financial operations management; and technical quality systems like iHealth for digital compliance monitoring. The company operates across sectors including product safety, logistics, fintech, commercial, technology, quality of life, and real estate/justice.

Differentiator

Problem solved

Functional benefit

Brands

• Wathq (واثق): Electronic data management and verification platform providing real-time business data from authoritative sources.
• Maroof (معروف)
• Almwathiq (الموثق)
• E-Mazad (المزاد الإلكتروني)
• Saber (سابر)
• SDR (Saudi Drug Registry)
• 180 Seconds (١٨٠ ثانية)
• iHealth
• Aamaly (أعمالي)

Products and services

• SABER (سابر) Product safety certification platform developed in partnership with SASO (Saudi Standards, Metrology and Quality Organization). Enables registration of product conformity certificates and shipment certificates, improving import experience and consumer protection from non-compliant products. Served over 93,000 beneficiaries with 7.3+ million products and 5 million certificates, raising product conformity index to 83.14% and improving border trade competitiveness by 72 ranks.
• Wathq (واثق) Data management platform providing verified, real-time commercial data directly from primary sources. Offers 200+ data points and has processed over 2 million verification queries for 13,000+ beneficiaries across government and private sectors, enabling enterprises and fintechs to perform automated KYC and compliance verification.
• Maroof (معروف) E-commerce store verification platform enabling users to view customer ratings and reviews of online stores. Since 2016, has verified over 40,000 e-commerce stores, supporting trusted online commerce in Saudi Arabia.
• Almuthawith (الموثق) Digital notary service in partnership with Ministry of Justice enabling electronic legal documentation without visiting notary offices. Completed over 1.6 million documentation operations with 5,000+ licensed Saudi notaries.
• 180 Seconds (180 ثانية) Commercial registration issuance platform enabling business registration in 180 seconds, down from days. Registered over 1.5 million commercial registrations in partnership with Ministry of Commerce.
• SDR (سد) - Saudi Drug Registry Saudi Drug Registration system for pharmaceutical product registration. Centralized platform for medicine registration, reducing registration time from 8-16 months to 4-5 months, with over 23,000 products registered.
• E-Mazad (المزاد الإلكتروني) Electronic auction platform for real estate and movable assets. First such platform in Saudi Arabia, featuring automated procedures, bidder verification, and synchronized physical-electronic auctions with 4,000+ auctions and 30,000+ bidders.
• Aamaly (أعمالي) Financial operations management platform providing comprehensive tools for invoice issuance through payment settlement. Processed over 16 million API operations, 13 million paid invoices, with 2 million+ users in supplier-customer network. Winner of Middle East Technology Excellence Award 2025 in FinTech IT Services.
• iHealth Digital quality monitoring and compliance system for Saudi Digital Government Authority requirements. Uses AI to automate 90%+ of quality tests, executing 138 technical tests per product including performance, security, accessibility, code quality, and SEO checks.
• COO Brazil Platform Certificate of Origin platform for Brazilian exporters and manufacturers, enabling electronic issuance and tracking of certificates of origin to facilitate Saudi-Brazil trade relations.

Quantifiable outcome

• Processed over 49 million operations serving 10 million beneficiaries
• +7 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature10 records

Partnerships

20 partnerships are on record, tiered flagship, core, minor and major.

• Saudi Halal Center / Halal Product Development CompanyflagshipStrategic or Co-development Partner · 25 December 2025Partnership for Halal Mark Track initiative integrated with ESG standards to enhance trust and global competitiveness of halal products. Supports sector sustainability and market expansion.
• Google CloudcoreTechnology or Integration · 15 October 2025Completed cloud infrastructure project with Google Cloud achieving 57% operational efficiency improvement and 68% faster response times. Services hosted locally in Saudi data centers for data security and compliance.
• Bupa ArabiaminorGTM or Marketing Partner · 17 September 2025Cooperation agreement to utilize Wathq services for insurance data verification at Money20/20 exhibition.
• Cultural Development FundminorStrategic or Co-development Partner · 24 October 2024MoU to support digital transformation in cultural fund services, enhancing experiences for cultural enterprises, entrepreneurs, and creators across 16 cultural sectors.
• AccenturemajorImplementation/ SI/ Consulting Partner · 18 October 2024MoU to develop innovative solutions improving transport sector operations in Saudi Arabia. Focus on digital transformation in transport through unified platform concepts.
• ROSHN GroupmajorStrategic or Co-development Partner · 2 October 2024MoU to study digitization of real estate documentation services for ROSHN communities. Aims to make property purchase faster, easier, and safer across Saudi Arabia.
• RATL TechnologymajorStrategic or Co-development Partner · 26 September 2024Strategic partnership to support Moathiq platform for commercial documentation and legal governance using blockchain technology. RATL joined THIQAH's Sharakah program.
• King Abdullah University of Science and Technology (KAUST)coreStrategic or Co-development Partner · 10 September 2024Strategic partnership for research, development, and innovation in future technologies and sustainable solutions. Focus areas include AI, cloud computing, IoT, and biotechnology. Builds on previous MoU for data and AI application research.
• Google CloudcoreTechnology or Integration · 5 September 2024Strategic partnership for cloud infrastructure and AI solutions. THIQAH utilizes Google Cloud's advanced cloud technologies and AI capabilities to provide comprehensive solutions in smart analytics, accelerating digital transformation journeys and achieving distinguished business results.
• CICIBAS (Brazilian-Saudi Center for Investment, Trade & Industry)flagshipStrategic or Co-development Partner · 12 June 2024Launched Origin Certificate platform in Brazil to enable Brazilian exporters to issue and track certificates electronically, enhancing trade between Saudi Arabia and Brazil.
• Saudi AramcomajorStrategic or Co-development Partner · 7 March 2024Agreement for technical integration with Wathq service to contribute to data verification from primary source, streamlining work mechanisms and improving task completion efficiency.
• stc GroupmajorStrategic or Co-development Partner · 7 March 2024MoU for data and IT services collaboration in areas of mutual strategic interest.
• TONOMUSminorStrategic or Co-development Partner · 7 March 2024MoU to explore digital twin opportunities in energy, water, and manufacturing sectors.
• Wateen (National Blood Donation Platform)minorGTM or Marketing Partner · 4 January 2024MoU to raise awareness about blood donation and document periodic donation campaigns as part of corporate social responsibility.
• Royal Commission for AlUlamajorStrategic or Co-development Partner · 26 October 2023Partnership to facilitate digital services in AlUla, creating a unified platform for 400+ permits across tourism, municipality, environment, culture, and entertainment sectors.
• Future Investment Initiative (FII) InstituteflagshipStrategic or Co-development Partner · 10 October 2023Strategic partnership extending until 2027 as international partner. Collaboration on initiatives addressing economic, political, and social challenges, driving innovation for global impact.
• SATEC Group (Spain)minorStrategic or Co-development Partner · 15 November 2022MoU at Gartner symposium to explore cooperation in smart solutions, IT, and value-added investment for mutual objectives.
• King Salman Global Academy for Arabic LanguageminorStrategic or Co-development Partner · 18 September 2022MoU for cooperation in linguistic data sources, Arabic dictionary apps, AI tools for Arabic language understanding, and Arabic language education platforms.
• Fintech SaudimajorGTM or Marketing Partner · 18 September 2022MoU under patronage of Digital Government Authority and Saudi Central Bank to provide digital trust services for fintech companies through Wathq platform.
• Oman Information Group (Izka)minorStrategic or Co-development Partner · 18 September 2022MoU to study cooperation in electronic services and IT for digital transformation, including pharmaceutical registration, safety products, government procurement, and notary platforms.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Saudi Information Technology Company (SITE): Saudi-listed IT services and digital transformation provider serving government and enterprise with system integration, managed services, and digital platforms. Closely comparable in B2G IT services delivery model, government client base, and platform-building capabilities.
• Solutions by STC: STC Group's B2G/B2B digital services arm providing managed services, cloud, cybersecurity, and digital platforms to Saudi government and enterprise clients. Directly comparable B2G IT services portfolio, target customers, and Saudi-government GTM motion.
• Elm: Saudi-listed digital solutions company and announced acquirer of THIQAH. Both deliver B2G digital platforms (data verification, identity, payment, public services) to Saudi ministries and large enterprises, with overlapping portfolios in digital trust, fintech, and government services.

Regional players

• Mawani (Saudi Ports Authority): Saudi government authority operating national port/logistics digital infrastructure including Fasah platform for import/export. Operates adjacent supply-chain and trade documentation platforms that intersect with THIQAH's SABER product conformity and logistics sector offerings.
• Naqel Express: Saudi logistics and supply-chain digital platform operator serving enterprise and government clients with shipment tracking and documentation services. Adjacent to THIQAH's logistics-sector digital solutions and COO Brazil origin certificate platform.

Broad incumbents

• Yesser (Saudi e-Government Program): National e-government program under CITC/MCIT coordinating government digital transformation initiatives and shared services. Operates as the umbrella for many of the same ministries THIQAH serves, often a contracting counterpart rather than direct competitor but closely comparable in scope of national digital infrastructure.
• Innovative Solutions (MENA SI): Large Saudi and MENA systems integrator providing enterprise IT services, cloud, and digital transformation to government and enterprise. Comparable B2G/B2B IT services footprint across Saudi Arabia and the broader region, with similar reliance on tier-1 government and enterprise contracts.

Emerging players

• Sirar by STC: STC's cybersecurity subsidiary providing digital trust, identity verification, and data security services to Saudi government and enterprises. Comparable to THIQAH's Wathq and digital notarization offerings, addressing the same trust/verification use cases for regulated entities.
• Tabadul (National Logistics Platform): Saudi state-backed digital platform for trade and logistics documentation. Competes with THIQAH's SABER product conformity and COO Brazil platforms in cross-border certificate issuance and customs/trade facilitation for government and exporters.
• Nazam (SAMA-aligned fintech infrastructure): Saudi fintech infrastructure and digital trust provider working with SAMA-regulated entities. Comparable in fintech compliance, KYC, and digital trust services to THIQAH's Aamaly financial operations platform and Wathq data verification for fintechs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/thiqah_sa
• YouTubeyoutube.com/channel/UCqtWKkJeHw-Vf8kugwlK-Zw/featured
• LinkedInin.linkedin.com/company/thiqah-business-services-company
• Instagraminstagram.com/thiqah_sa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about THIQAH