Pinnacle Leads Tarabut’s Series A Funding Round
Pinnacle Capital led a $32 million Series A funding round for Tarabut Gateway, a Bahrain-founded open banking platform, with participation from Aljazira Capital, Visa, Tiger Global, and other existing and new investors.
Founded in 2019 by Abdulla Almoayed, Tarabut Gateway operates as an open banking platform that connects regional banks and fintech companies through a universal API. The successful funding round reflects strong investor confidence in the company’s technology, growth potential, and ability to expand its presence across the region’s digital financial services landscape.
The new funding will support Tarabut Gateway’s expansion in the Saudi market, with a focus on attracting top talent and developing strategic partnerships across the Kingdom. The company is also building open banking infrastructure across Saudi Arabia, the UAE, and Bahrain, with plans to expand into additional markets across the Middle East and North Africa.
Pinnacle Capital’s leadership of the round reflects its expertise in alternative investments and venture capital, as well as its focus on supporting high-growth technology businesses. The transaction is aligned with Pinnacle’s investment approach of identifying companies operating in structurally transforming sectors and contributing to the development of Saudi Arabia’s fintech ecosystem.
The funding represents an important milestone for Tarabut Gateway, supporting the execution of its expansion strategy and strengthening its position within the Saudi market, in line with the Kingdom’s digital transformation and Vision 2030 objectives.
About Tarabut Gateway
- Founded in 2019, Tarabut Gateway launched in Bahrain before expanding into Saudi Arabia and the UAE.
- The company is building open banking infrastructure across the region, connecting banks and fintech companies through a unified technology platform.
- Tarabut Gateway has achieved over 60% market coverage in Saudi Arabia through partnerships with Alinma Bank, Arab National Bank, Saudi National Bank, and Riyad Bank.
- The company was among the first participants in the Saudi Central Bank’s Regulatory Sandbox for the Kingdom’s open banking framework.
- Tarabut Gateway plans to continue expanding across the Middle East and North Africa while advancing more open and inclusive digital financial services.
About Pinnacle Capital
Pinnacle Capital is a Saudi investment firm focused on alternative investments and financial services, with a particular focus on opportunities aligned with Saudi Arabia’s economic transformation and Vision 2030. The firm provides investment management and transaction-related services across a range of alternative asset classes, including venture capital, private equity, public markets, infrastructure, and growth investments.
Pinnacle combines deep transactional expertise with an investment-led approach to identify high-quality opportunities and build long-term partnerships with founders, companies, and investors. The firm seeks to create sustainable value by providing capital, strategic support, and access to its regional network.