Seen Tarbi for Financial Technology

What Seen Tarbi for Financial Technology does

Seen Tarbi for Financial Technology (legal name: Seen Tarbi Financial Technology Company) is a private Saudi FinTech company headquartered in Jeddah, Saudi Arabia, authorized by the Saudi Central Bank (SAMA) to provide Open Banking infrastructure and related services. The company builds a unified API platform connecting banks, fintech companies, enterprises, and government entities for secure access to financial data and payment services, compliant with SAMA, NCA, SDAIA, and PDPL standards. Its core product portfolio comprises four offerings: Riyalak, a SAMA-licensed personal finance management mobile app distributed via App Store and Google Play; Amaalak (EFM), an enterprise financial management system licensed within the SAMA Open Banking sandbox for institutions managing multi-bank accounts; XLab, a financial technology laboratory with sandbox environment, API documentation, and SDK libraries for developers and fintechs; and XHub, a SAMA-compliant data aggregation hub providing unified API connectivity across major Saudi banks including Al Rajhi, Al Bilad, Alinma, Al Jazira, ANB, BSF, Riyadh Bank, SAB, and SNB. The technology stack delivers Account Information Services (AIS) and Payment Initiation Services (PIS), with AI capabilities spanning predictive analytics, AI Agent services, generative AI readiness, and fraud anomaly detection.

The business model combines multiple revenue streams: subscription-based API and platform services (X-Hub, XLab), enterprise software licensing (Amaalak), freemium consumer app distribution (Riyalak), and professional services including GRC consulting, AI and data intelligence services, data engineering, and cybersecurity. GTM is multi-channel: API-first developer self-service via the docs.xsquare.sa documentation portal, direct-to-consumer mobile distribution, enterprise field sales with "Request Service Now" and "Request a Demo" CTAs targeting large enterprises, government entities, and SMEs, and event-driven demand generation through SEAMLESS, LEAP, RISEUP, 24 FINTECH, and TECHHUB. Customer segments span banks and financial institutions, fintech companies and developers, large enterprises, SMEs, government and nonprofits, technology companies and ISVs, and individual consumers. No external funding rounds, acquisitions, parent company, or management team disclosures are present in the source data, and the company appears to be a privately held, independently operating entity that may be associated with a broader technology group operating under the xsquare brand.

Name

Seen Tarbi for Financial Technology

Legal name

Seen Tarbi Financial Technology Company

Website

https://seentarbi.sa

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Seen Tarbi is a SAMA-licensed Saudi FinTech company providing Open Banking API infrastructure, an enterprise financial management system (Amaalak), a developer sandbox (XLab), and a consumer PFM app (Riyalak) to banks, fintechs, enterprises, government, and individuals.

Ownership category

akta.pro rank

Product category

Open Banking Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Developer APIs & Node Access (RPC providers, node infrastructure APIs) (FSAPABAC)

Keywords

• Open banking APIs
• Financial management software
• Regulatory compliance services
• Enterprise finance platform
• Developer sandbox tools

Headquarters

HQ city

Jeddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. API and Platform Services: Revenue from providing Open Banking API infrastructure, data aggregation services, and sandbox environments to banks, fintech companies, and developers
2. Mobile Application Distribution: Consumer app distribution through Riyalak available on App Store and Google Play for personal finance management
3. Enterprise Software Licensing: Amaalak (EFM) enterprise financial management system licensing to large enterprises, government entities, and SMEs for comprehensive financial operations management via Open Banking
4. Cybersecurity Services: Professional services including security assessments, penetration testing, secure code reviews, and compliance services (PDPL, PCI DSS, ISO/IEC 27001)
5. GRC Consulting Services: Governance, Risk & Compliance consulting including regulatory compliance readiness, audit operations, internal audit, risk management, and GRC tool implementation
6. AI & Data Intelligence Services: AI models, predictive analytics, intelligent automated services (AI Agent), data engineering, business intelligence and reporting services

Go-to-market motion4 records

Distribution channels4 records

Marketing channels8 records

Core offering

Seen Tarbi provides SAMA-licensed Open Banking API infrastructure that securely connects banks, fintech companies, enterprises, and government entities to financial data and payment services. Its portfolio includes four core products — Riyalak (consumer PFM mobile app), Amaalak/EFM (enterprise financial management platform), XLab (developer sandbox with SDKs and API documentation), and X-Hub (data aggregation API hub) — plus professional services in GRC, AI & Data Intelligence, Data Engineering, and Cybersecurity.

Product overview

Seen Tarbi is a licensed Saudi FinTech company authorized by the Saudi Central Bank (SAMA) that provides secure Open Banking infrastructure via APIs. The product portfolio consists of four core products: Riyalak (a PFM mobile app for personal finance management), Amaalak (EFM - an enterprise financial management system), XLab (a developer sandbox for testing open banking solutions), and XHub (a data aggregation API hub connecting banks and businesses). The company also offers professional services including GRC, AI & Data Intelligence, Data Engineering, and Cybersecurity. The platform enables companies, banks, and government entities to access financial data and payment services through secure APIs, enhancing innovation, efficiency, and compliance with local regulations.

Differentiator

Problem solved

Functional benefit

Brands

• Riyalak: A personal finance management app for income, spending, and financial goals tracking, licensed by SAMA.
• Amaalak (EFM)
• XLab
• X-Hub

Quantifiable outcome

• Reduce operational costs by automating manual financial processes
• +4 more outcomes

Segments9 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature6 records

Partnerships

Five partnerships are on record, tiered minor.

• techuubminorGTM or Marketing Partnertechuub is listed as a partner organization, indicating collaborative marketing or ecosystem participation in the Saudi fintech community.
• 24 FINTECHminorGTM or Marketing Partner24 FINTECH is listed as a partner organization with Seen Tarbi participating in the 24 FINTECH 2024 event as part of its event-driven GTM strategy.
• SEAMLESSminorGTM or Marketing PartnerSEAMLESS is listed as a partner organization with Seen Tarbi participating in SEAMLESS Egypt 2023 and SEAMLESS Riyadh & Dubai 2023 events.
• LEAPminorGTM or Marketing PartnerLEAP is listed as a partner organization with Seen Tarbi participating in LEAP February 2023 conference.
• RISEUPminorGTM or Marketing PartnerRISEUP is listed as a partner organization with Seen Tarbi participating in RISEUP Summit Riyadh 2022.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lean Technologies: Saudi Arabia-based Open Banking platform providing unified API access to bank accounts and payment initiation services. Directly competes with Seen Tarbi's X-Hub in the same Saudi market with overlapping target customers (fintech companies, enterprises, developers).
• Tarabut Gateway: MENA's leading Open Banking platform headquartered in Bahrain with operations across the GCC. Competes directly with Seen Tarbi in the regional Open Banking space, offering similar account aggregation and payment initiation services to banks and fintechs.

Broad incumbents

• TrueLayer: UK-headquartered Open Banking platform with global operations. A well-established incumbent in the Open Banking infrastructure space offering similar AIS and PIS services, and a potential entrant or competitor in the Saudi market.
• Yapily: UK-based Open Banking infrastructure provider offering account information and payment initiation APIs. Competes in the same Open Banking infrastructure category with similar developer-focused GTM approach.
• Salt Edge: Open Banking and financial data aggregation platform serving banks, fintechs, and lenders globally. Offers similar account information services and PSD2/Open Banking compliance tooling relevant to Seen Tarbi's X-Hub product.
• Tink: European Open Banking platform owned by Visa, providing account aggregation, payment initiation, and financial data services. Comparable technology stack and product offering to Seen Tarbi's X-Hub, with established bank connections across European markets.
• Mastercard Open Banking: Global Open Banking solutions provider through Mastercard's acquisition of Finicity and Ekata. Represents a potential scale competitor entering the MENA market with superior resources and established bank relationships.
• Plaid: Global leader in financial data connectivity and Open Banking infrastructure. Provides bank API aggregation, account verification, and payment services to fintech companies and enterprises, representing a potential global competitor or strategic acquirer.

Emerging players

• Moneyhub: UK-based Open Banking data and payments platform offering account aggregation, payment initiation, and personal finance management capabilities. Comparable product mix to Seen Tarbi with PFM and Open Banking infrastructure offerings.

Others

• Alinma Bank: One of the major Saudi banks that is both a partner (via X-Hub integration) and a potential competitor if it builds proprietary Open Banking services. Represents both a customer and a competitive threat to Seen Tarbi's platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/SeenTarbi
• YouTubeyoutube.com/@SeenTarbi
• LinkedInlinkedin.com/company/seen-tarbi-for-fintech/posts/?feedView=all
• Instagraminstagram.com/SeenTarbi

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

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 Seen Tarbi for Financial Technology