1957 Ventures Company Profile

Background

Overview

1957 Ventures is a fintech venture builder based in Riyadh, Saudi Arabia, dedicated to transforming the financial services landscape by building, investing in, and partnering with innovative fintech companies. Established in 2023, the firm is backed by Riyad Bank, one of the Kingdom's leading financial institutions. The company's mission is to accelerate the growth of fintech startups and contribute to the digital transformation of Saudi Arabia's financial sector. Its vision aligns with Saudi Vision 2030, aiming to diversify the economy and foster innovation within the financial services industry.

Mission and Vision

Mission: To build, invest in, and partner with breakthrough fintech companies that are reshaping how people and businesses interact with financial services.

Vision: To be a catalyst for the digital transformation of Saudi Arabia's financial sector, fostering innovation and competitiveness in line with the Kingdom's Vision 2030.

Primary Area of Focus

1957 Ventures focuses on the fintech sector, encompassing areas such as digital banking, payments, insurtech, regtech, and embedded finance. The firm operates as a venture builder, providing capital, expertise, and market access to early-stage fintech startups, and also engages in strategic partnerships to bring international fintech solutions to Saudi Arabia.

Industry Significance

As the largest fintech venture builder in the MENA region, 1957 Ventures plays a pivotal role in accelerating the growth of fintech startups and driving the digital transformation of the financial services sector in Saudi Arabia. Its initiatives support the objectives of Saudi Vision 2030, contributing to the diversification and modernization of the Kingdom's economy.

Key Strategic Focus

Core Objectives

Venture Building: Developing innovative fintech solutions in-house, from ideation to launch, leveraging deep industry expertise.

Early-Stage Investments: Providing capital and expertise to early-stage fintech startups, helping them scale from concept to market leadership.

Strategic Partnerships: Bringing international fintech solutions to Saudi Arabia through strategic partnerships and joint ventures.

Specific Areas of Specialization

Digital Banking: Innovating banking services through digital platforms to enhance customer experience and operational efficiency.

Payments: Developing secure and efficient payment solutions to facilitate seamless transactions.

Insurtech: Transforming the insurance industry by integrating technology to improve accessibility and customer engagement.

Regtech: Implementing regulatory technology to streamline compliance processes and reduce operational risks.

Embedded Finance: Integrating financial services into non-financial platforms to provide comprehensive solutions.

Key Technologies Utilized

Artificial Intelligence (AI): Employing AI to enhance decision-making processes, personalize customer experiences, and optimize operations.

Blockchain: Utilizing blockchain technology to ensure transparency, security, and efficiency in financial transactions.

Data Analytics: Leveraging data analytics to gain insights into market trends, customer behavior, and operational performance.

Primary Markets Targeted

Saudi Arabia: Focusing on the domestic market to support the Kingdom's digital transformation goals.

MENA Region: Expanding influence across the Middle East and North Africa to foster regional fintech innovation.

Financials and Funding

Funding History

1957 Ventures has secured substantial funding to support its initiatives:

Total Funds Raised: Over SAR 800 million (approximately USD 213 million).

Recent Funding Round: The firm launched a closed-end investment fund in May 2024, backed by Riyad Bank, to drive transformative growth in Saudi Arabia's fintech sector.

Notable Investors

Riyad Bank: As the primary backer, Riyad Bank provides significant financial support and strategic guidance to 1957 Ventures.

Intended Utilization of Capital

Venture Building: Developing and launching in-house fintech solutions.

Early-Stage Investments: Funding and mentoring emerging fintech startups.

Strategic Partnerships: Establishing collaborations to introduce international fintech solutions to the Saudi market.

Pipeline Development

Key Pipeline Candidates

While specific pipeline candidates are not publicly disclosed, 1957 Ventures focuses on:

Early-Stage Startups: Identifying and supporting promising fintech startups in the pre-seed to Series A stages.

In-House Projects: Developing proprietary fintech solutions to address market needs.

Stages of Development

Ideation: Conceptualizing innovative fintech solutions.

Development: Building and refining fintech products and services.

Launch: Introducing solutions to the market and scaling operations.

Target Conditions

Digital Banking: Enhancing banking services through digital platforms.

Payments: Improving transaction processes and security.

Insurtech: Modernizing the insurance industry with technology.

Regtech: Streamlining compliance and regulatory processes.

Embedded Finance: Integrating financial services into various platforms.

Anticipated Milestones

Short-Term: Launch of new fintech solutions and partnerships.

Medium-Term: Expansion of portfolio companies and market reach.

Long-Term: Achieving significant market share and contributing to the Kingdom's Vision 2030 objectives.

Technological Platform and Innovation

Proprietary Technologies

AI-Powered Tools: Developing AI-driven solutions to support fintech startups in areas such as regulatory compliance and investment analysis.

Blockchain Solutions: Creating secure and transparent platforms for financial transactions.

Significant Scientific Methods

Data Analytics: Utilizing advanced analytics to inform decision-making and strategy.

Machine Learning Algorithms: Implementing algorithms to enhance product offerings and customer experiences.

AI-Driven Capabilities

Regulatory Technology: Employing AI to streamline compliance processes and reduce operational risks.

Customer Insights: Leveraging AI to analyze customer behavior and preferences, enabling personalized services.

Leadership Team

Key Executives

Emad Kashgari: Chief Executive Officer (CEO)

Professional Background: Emad has extensive experience in the fintech and banking sectors, having held leadership positions in various financial institutions.

Contributions: Under his leadership, 1957 Ventures has secured significant funding and established strategic partnerships to drive fintech innovation in Saudi Arabia.

Abdullah Alshwer: Chief Executive Officer (CEO) of Riyad Capital

Professional Background: Dr. Abdullah has a strong background in asset management and alternative investments, with a focus on driving growth and innovation in the financial sector.

Contributions: He has been instrumental in launching the 1957 Ventures fund, aligning with the Kingdom's digital transformation goals.

Competitor Profile

Market Insights and Dynamics

Market Size: The fintech sector in Saudi Arabia is experiencing rapid growth, with projections estimating a market value of USD 2.4 billion by 2029.

Growth Potential: The Kingdom's Vision 2030 and the Financial Sector Development Programme provide a conducive environment for fintech innovation and expansion.

Industry Trends: There is a growing emphasis on digital transformation, regulatory technology, and embedded finance solutions within the region.

Competitor Analysis

Riyad Bank: As the parent company, Riyad Bank is a significant player in the Saudi financial sector, focusing on digital transformation and fintech innovation.

Other Fintech Venture Builders: While specific competitors are not detailed, the fintech venture building space in the MENA region includes various entities aiming to support and invest in fintech startups.

Strategic Collaborations and Partnerships

Significant Collaborations

Lean Node: Announced a strategic partnership to launch the "Fintech & AI Foundry," aiming to empower fintech and AI entrepreneurs in Saudi Arabia.

Strategic Opportunities and Future Directions