What Sinbad does

Sinbad (سنباد) is an Iranian open banking platform founded in 2021 through joint investment from 9 private Iranian banks — Parsian, Ansar (Bank Sepah), Saman, Pasargad, Iran Zamin, Sina, Shahr, Karfarin, and Melat Financial Institution. Headquartered in Tehran, the company operates as a multi-bank aggregator providing standardized APIs that abstract the complexity of individual bank systems into a unified integration layer for third-party developers, fintechs, and enterprises. Its core platform includes a Service Exchange Gateway (centralized authentication, routing, and encryption), a domestic push notification system operating without Google Firebase dependency, an Organizational Bills System for utility pay management across multi-branch organizations, a TSP Tax Invoice Sending System with on-premises deployment, a Digital Wallet, and a native Iranian enterprise captcha.

The company's product portfolio extends beyond core infrastructure into vertical service packages: the Loan Package provides end-to-end loan digitization with identity verification, credit scoring, and electronic promissory notes, while the Recruitment Package bundles identity, education, military, and criminal record verification. Sub-services include Inquiry Services (military, criminal, educational, vehicle, banking), Financial & Payment Services (transfers, Satna, Paya, card-to-card), Naji Service (vehicle and driving records), and Cinema & Entertainment ticketing. The platform integrates with Iranian domestic messengers (Bale, Eitaa, Soroush, Soroush Plus, iGap) and is deployable on-premises for enterprise clients.

Sinbad pursues a hybrid go-to-market combining API-first developer adoption through a sandbox console (console.sanbod.co) with direct enterprise sales to banks, financial institutions, government entities, and large private companies. Revenue derives from usage-based API pricing, subscription/package fees for bundled services, and professional services for on-premises implementations. The company is privately held under consortium ownership, with no external venture capital or private equity investors disclosed. Notable milestones include Knowledge-Based Company certification in 2026, a Golden Plaque at the 10th Iran Transaction Event in January 2025, and a CEO transition in November 2024 to Dr. Shobnam Shojaei.

Name

Sinbad

Legal name

شرکت سنباد (Sanbod Company)

Website

https://sanbod.co

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Sinbad is an Iranian open banking platform founded in 2021 by a consortium of 9 private banks, providing unified APIs, push notifications, digital identity verification, payment services, and enterprise software to banks, fintechs, and large organizations in Iran.

Ownership category

akta.pro rank

Product category

Open Banking Platform (Banking-as-a-Service)

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computer Systems Design and Related Services (54151)

SIC

Finance Services (6199)

akta.pro primary industry

Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ)

akta.pro secondary industries

Open Banking APIs & Connectivity (FSAMAFAA), Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH)

Keywords

• Open banking APIs
• Digital payment services
• Push notification infrastructure
• Digital identity verification
• Banking API platform

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. API Usage Fees (Usage-Based): Sinbad provides banking APIs with consumption-based pricing — customers pay based on the volume of API calls, transactions, or notifications processed. This is a key revenue stream for the open banking platform.
2. Subscription/Package Fees: The company offers service packages (loan package, recruitment package) and structured service bundles that likely operate on a subscription or per-package basis. Push notification and other services are available as packaged offerings.
3. Professional Services & Implementation: Sinbad provides implementation and integration services for its products, particularly for on-premises deployments (e.g., TSP Tax Invoice system, push notification, organizational bills system) which require custom integration with organizational systems.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Sinbad operates an open banking platform that delivers standardized banking and digital services through APIs to banks, fintechs, e-commerce businesses, and large enterprises in Iran. Its offering spans a Service Exchange Gateway, Push Notification infrastructure, Digital Wallet, Organizational Bill Payment, TSP Tax Invoice Sending, Native Captcha, and bundled packages for loan digitization and recruitment, all backed by a consortium of nine private Iranian banks.

Product overview

Sinbad operates as a comprehensive open banking platform and digital services hub backed by 9 private Iranian banks, providing a portfolio of interconnected products and services. The core product line includes: the Service Exchange Gateway (گذرگاه تبادل سرویس) as the central integration platform, the Push Notification System for instant messaging, the Organizational Bills System for utility payment management, the Tax Invoice Sending System (TSP) for electronic invoicing, the Digital Wallet for payment management, and the Sanbod Native Captcha for security. These core products are complemented by specialized packages including the Loan Package (for end-to-end loan digitization) and the Recruitment Package (for hiring and onboarding), as well as domain-specific services including Inquiry Services (identity and document verification), Financial & Payment Services (transfers and settlements), Naji Services (vehicle and driving records), and Cinema & Entertainment Services (ticket sales). The platform delivers services primarily via standardized APIs and supports both cloud and on-premises deployment options.

Differentiator

Problem solved

Functional benefit

Products and services

• Service Exchange Gateway (گذرگاه تبادل سرویس) Centralized gateway facilitating communication and data exchange between different services in distributed system architectures; serves as a security layer for authentication, authorization, and data encryption; optimizes data traffic distribution and generates detailed reports. For banks, fintechs, and enterprises building open banking integrations.
• Push Notification Service (سامانه پوش نوتیفیکیشن) Push notification service for sending real-time, targeted messages to users without relying on external infrastructure like Google Firebase. Supports Android, iOS, Web, PWA, and Iranian messenger platforms (Bale, Eitaa, Soroush, Soroush Plus, iGap). Can be deployed on-premise at customer data centers. For banks, fintechs, and digital platforms.
• Organizational Bills System (سامانه قبوض سازمانی) Platform for managing payment of various utility bills (water, electricity, gas, telecom, municipality, mobile) for organizations with many branches such as banks. Supports bulk bill upload, automatic reconciliation, online payment, and financial reporting per branch. For banks, large enterprises, and government bodies.
• TSP Tax Invoice Sending System (سامانه ارسال صورتحساب مالیاتی) Online and secure system for sending and managing large volumes of tax invoices. Creates an intermediary layer between taxpayers and the Tax Affairs Organization, with encryption, on-premises installation option, and compatibility with accounting and ERP systems. For banks, large enterprises, and tax-paying organizations.
• Digital Wallet (کیف پول دیجیتال) Secure, user-friendly digital wallet for managing online payments and financial transactions. Features multi-wallet support for customers, organizations, and projects; transaction history; account status tracking; and API connectivity to internal financial systems. For customer clubs, chain stores, exchanges, brokerages, and online businesses.
• Sanbod Native Captcha (کپچای بومی سنباد) Iranian enterprise captcha provider offering advanced protection against automated bot attacks and targeted cyber intrusions. Provides security equivalent to international services without dependency on external infrastructure, optimized user experience, and easy integration. For fintechs, cryptocurrency platforms, insurance, stock exchange, and e-commerce businesses.
• Loan Package (پکیج وام سنباد) Comprehensive package for full digitalization of the lending process, including digital identity verification (Shahkar, Sabt Ahval, OCR), banking/legal inquiries, credit scoring, electronic promissory note, and fund transfers (Paya, Satna, direct debit). For banks and financial institutions.
• Recruitment Package (پکیج استخدامی سنباد) Package designed to make the recruitment process faster, more precise, and smarter. Includes digital identity verification, educational credential inquiry, military status verification, criminal record check, and electronic document signing. For HR departments and large hiring organizations.
• Inquiry Service (سرویس استعلامی) Broad range of inquiry services covering military status, criminal record, Sana, foreign nationals, educational credentials, and vehicle information. Includes banking information matching (IBAN, card, account) with customer identities for fraud prevention. For banks, fintechs, and enterprises needing KYC and verification.
• Payment and Financial Service (سرویس مالی و پرداخت) Full suite of banking transactions and payment services including domestic transfers, Satna, Paya, card-to-card conversion, account statements, automatic withdrawal (Direct Debit), and transaction verification. For banks, fintechs, and businesses needing payment rails.
• Naji Service (سرویس ناجی) Vehicle and driving information service including license plate verification, traffic violations, vehicle history, driver's license status, negative driving points, ownership card and deed verification, passport status, and foreigner status (FIDA). For insurers, fintechs, and businesses.
• Cinema and Entertainment Service (سرویس سینما و سرگرمی) Online cinema and theater ticket purchasing service with seat selection, schedule information, and secure payment. Also covers theater ticket sales. For consumer apps and digital commerce platforms.

Quantifiable outcome

• Push notification service reduces bank SMS costs significantly compared to traditional per-SMS billing
• +2 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature12 records

Partnerships

Two partnerships are on record, tiered core.

• Debaryan (دیبارایان)coreStrategic or Co-development Partner · 1 January 1403A three-party agreement was signed at Elkomp 1403 between Sinbad, Debaryan, and Fanavaran Etmin Rahbar for the provision of centralized identity verification services, digital certificate issuance, and electronic signatures.
• Fanavaran Etmin Rahbar (فناوران اعتماد راهبر)coreStrategic or Co-development Partner · 1 January 1403A three-party agreement was signed at Elkomp 1403 between Sinbad, Debaryan, and Fanavaran Etmin Rahbar for centralized identity verification, certificate issuance, and digital signature services.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tarabut Gateway: MENA-focused open banking platform headquartered in Bahrain, providing API connectivity across regional banks. Closest regional comparable in terms of market structure (consortium-style bank partnerships) and emerging-market open banking go-to-market.
• Bankin': European account aggregation and personal finance management platform leveraging open banking APIs. Comparable in using open banking connectivity as the foundation for downstream consumer and enterprise financial services.
• Lean Technologies: Saudi Arabia-based open banking and data platform enabling fintechs to connect to local banks via APIs. Comparable MENA emerging-market peer with similar bank-consortium dynamics and Arabic-market focus.
• Tink: Visa-owned open banking platform providing PSD2-compliant account aggregation and payment initiation APIs across Europe. Comparable in product scope (data + payments APIs) and developer-console-led GTM.
• Token.io: Open banking payment initiation platform enabling bank-to-bank account-to-account payments via APIs. Comparable in combining open banking with payment orchestration use cases similar to Sinbad's Paya/Satna APIs.
• Plaid: Global leader in open banking connectivity APIs, enabling applications to connect to bank accounts for payments, identity, and financial data. Directly comparable to Sinbad's core open banking API business model.
• TrueLayer: European open banking platform offering account aggregation, payment initiation, and identity APIs to fintechs and merchants. Closely mirrors Sinbad's API-first distribution and usage-based pricing model.
• Yapily: European open banking API infrastructure provider offering account connectivity and payment initiation services. Comparable API-first platform model targeting banks, fintechs, and enterprise developers.

Broad incumbents

• Finicity (Mastercard Open Banking): Now part of Mastercard, Finicity provides open banking data aggregation and connectivity APIs at global scale. Comparable in API functionality but operates as part of a much larger incumbent network rather than a focused regional platform.

Emerging players

• Flinks: Canadian open banking platform providing account aggregation, payment, and KYC APIs to fintechs and lenders. Comparable in combining open banking data with loan origination workflows similar to Sinbad's Loan Package.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sanbod
• Instagraminstagram.com/mysanbod
• Xx.com/SanbodCo

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Sinbad