Akasia

What Akasia does

Akasia is a Saudi Arabia-based financial technology platform operated through two closed joint-stock companies headquartered in Riyadh — TEQNIYE AL-ADKHAR WALLINMA Finance Company (CR No. 1010624186, registered January 2020) and TETOUIR AL-IDKHAR For financial technology in securities business Company (CR No. 10010816636, registered August 2022). The latter holds a Capital Market Authority permit under the Financial Technology Laboratory initiative to provide Robo Advisory services in the Kingdom. Akasia targets Saudi citizens aged 18 and over who are long-term investors, distributing its services exclusively through a self-serve mobile application and website (akasia.com, getakasia.com) without traditional sales channels.

The platform combines open banking API integration, algorithm-driven robo advisory, investment account management, and a wallet account service. Users can aggregate multiple bank accounts via open banking, open and fund investment accounts after identity verification, receive algorithm-generated portfolio recommendations aligned to their objectives and risk tolerance, and execute investment transactions including access to foreign markets and funds. Akasia is non-discretionary: clients direct investment instructions, and the company executes on their behalf under the Capital Market Institutions Regulations.

Akasia monetizes via a 0.7% annual administrative fee calculated daily on net investment account value (deducted on withdrawal or monthly by selling portfolio portions), supplemented by transaction and withdrawal fees proportional to portfolio size, with all fees denominated in Saudi Riyals and exclusive of VAT. Customer acquisition is organic and digital-first, relying on its Twitter, Instagram, and LinkedIn presence. Akasia is privately held with no disclosed parent company, and the only documented external capital is accelerator-era backing from 500 Global in January 2022.

Name

Akasia

Legal name

TETOUIR AL-IDKHAR For financial technology in securities business Company

Website

https://akasia.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Akasia is a CMA-regulated Saudi Arabian robo-advisory platform offering algorithm-driven wealth management, open banking aggregation, and investment account services to individual Saudi citizens aged 18 and over via a self-serve mobile and web application, monetizing through a 0.7% annual AUM-based administrative fee.

Ownership category

akta.pro rank

Product category

Digital Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Robo-Advisors & Digital Wealth Managers (FSAAAAAD)

Keywords

• Robo advisory services
• Digital wealth management
• Open banking integration
• Investment account management
• Algorithmic portfolio management

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Administrative Management Fees: Akasia charges an annual administrative fee of 0.7% calculated on the net investment account value (excluding taxes and additional fees). Fees are calculated on a daily basis and deducted when the client makes a withdrawal. The withdrawal fee is calculated proportionally to the size of the client's portfolio. Akasia may calculate and deduct fees monthly by selling a portion of the client's investments.
2. Transaction and Withdrawal Fees: Fees charged on withdrawal transactions calculated out of the total withdrawn amount proportionate to the size of the Client's portfolio. Clients also bear all fees related to bank transfers to transfer investments to and from Akasia.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Akasia operates a CMA-regulated digital wealth management platform that delivers algorithm-driven robo advisory services and open banking-enabled account aggregation to Saudi Arabian citizens. Users can independently open investment accounts, link multiple bank accounts, receive algorithm-generated portfolio recommendations, and execute investment transactions through a mobile application and website. The company charges a 0.7% annual administrative fee on net investment account value plus transaction/withdrawal fees.

Product overview

Akasia is a unified financial technology platform offering robo advisory, open banking, and investment management services. The core Akasia Platform serves as the central application, integrating Open Banking Service for account aggregation, Robo Advisory Services for algorithm-driven investment recommendations, Investment Account Management for portfolio handling, and Wallet Account Services for fund transfers. All services are provided under CMA regulation through the Fintech Lab initiative in Saudi Arabia.

Differentiator

Problem solved

Functional benefit

Products and services

• Akasia Platform A financial technology platform providing robo advisory and open banking services for wealth management and investment portfolio management, regulated by the Capital Market Authority (CMA) in Saudi Arabia, accessible via mobile application and website to KSA citizens.
• Open Banking Service Enables users to access financial information from their bank accounts through open banking technology and applicable regulations, aggregating multiple bank accounts into one platform for secure financial management and transaction viewing.
• Robo Advisory Services Algorithms-based investment advisory service that builds personalized investment plans and portfolios for clients based on their financial data, objectives, and risk preferences to grow their wealth, with clients directing execution of investment transactions.
• Investment Account Management Opens and manages client portfolio accounts with identity verification, providing investment account services including execution of investment transactions in line with client instructions.
• Wallet Account Services Provides deposit and withdrawal services for funds through user's registered bank accounts and debit/credit cards, with secure payment processing capabilities on the platform.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Betterment: Betterment is a US-based pioneering robo advisor offering algorithm-driven portfolio management to retail investors. It is comparable to Akasia on the core robo-advisory mechanism and product category, though at significantly larger scale and broader market footprint.
• Wealthsimple: Wealthsimple is a Canadian digital wealth platform offering robo advisory, brokerage, and wealth management to retail investors. It is comparable to Akasia in product category and digital-first delivery, though operating at much larger scale and in a different geography.
• Scalable Capital: Scalable Capital is a European digital wealth and robo advisory platform serving retail investors across Germany and other EU markets. It shares Akasia's automated portfolio construction and self-serve digital delivery model, though operating in a different regulatory jurisdiction.
• SNB Capital: SNB Capital is the investment arm of Saudi National Bank, offering asset management, brokerage, and wealth services across KSA. It overlaps with Akasia in Saudi retail investment management but operates as a broader, multi-product incumbent.
• Riyad Capital: Riyad Capital is one of Saudi Arabia's largest investment firms, providing brokerage, asset management, and advisory services. It shares Akasia's KSA retail-investor customer base and investment-product focus but delivers through a full-service incumbent model.
• Al Rajhi Bank Investment Services: Al Rajhi Bank is Saudi Arabia's largest bank by assets and offers wealth management, brokerage, and asset management products to a vast retail customer base. It competes with Akasia for the same KSA retail-investor wallet, but as a full-service incumbent rather than a specialized digital wealth platform.

Direct peers

• StashAway: StashAway is a digital wealth manager operating across the GCC (notably UAE) with algorithm-driven portfolio strategies for retail investors. It overlaps with Akasia in product offering, target customer, and automated portfolio construction approach.
• Sarwa: Sarwa is a UAE-based digital wealth and robo advisory platform offering automated investment portfolios to retail investors across the GCC. It is the closest direct comparable to Akasia given the same digital wealth / robo advisory model targeting Middle East retail customers.
• Wahed Invest: Wahed Invest is a global Shariah-compliant robo advisor with a regional presence including Saudi Arabia. It directly competes with Akasia in the GCC digital wealth space and shares the automated, algorithm-driven portfolio model with the same retail-investor focus.

Others

• Malaa Technologies (Mada Fintech): SAMA and Saudi central-bank open banking infrastructure underpin Akasia's bank-aggregation feature. They are ecosystem enablers rather than direct competitors, but form the regulatory and technical rail on which Akasia's open banking product depends.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/get_akasia
• LinkedInlinkedin.com/company/akasiaapp
• Instagraminstagram.com/get_akasia

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

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 Akasia