Aion Digital, a Bahrain-based fintech company, has recently announced that it has raised $5 million in a bridge funding round led by Fintactics Ventures, a venture capital fund. The announcement was made during the LEAP 2023 technology convention that was held in Riyadh. The funds raised from this round of funding will be used to expedite the transfer of digital banking infrastructure to Saudi Arabia.
Aion Digital was founded in 2017 and provides 500 banking APIs that allow for the quick and easy launch of digital solutions. The API-based digital banking platform offers clients the ability to create personalized digital products.
The company’s three main products include digital onboarding, retail digital banking, and corporate digital banking. Several financial institutions, such as Jazeel Bahrain, Kuwait Finance House, SIMAH, and Boubyan Bank, use Aion’s APIs.
Currently, Aion Digital is working on new strategic ventures in the open banking and regulatory technology space within the Gulf Cooperation Council (GCC) region. The company has a presence in Saudi Arabia and is exploring opportunities for expansion.
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