FinTech Amwal raised $2.5 million in Pre-SEED co-led by Shorooq Partners and Outliers Venture Capital with angel investors.
Amwal aims to improve the way money is authenticated around the world. Amwal has created a cryptographic biometric checkout solution by abstracting device identity, fraud prevention, and payment tokenization into a single API. Amwal claims it is working to improve authentication and authorization for the $250 billion MENA payment market. Saudi payments has licenced Amwal biometric checkout (Saudi Central Bank).
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