D360 Bank, a Shariah-compliant digital bank backed by the Public Investment Fund, is preparing to launch its Series A funding round in the second half of 2025, aiming to attract international investors, particularly from Europe and the United States, to support its expansion plans.
Since commencing operations in December, the bank has secured $500 million in funding from existing shareholders, including the Public Investment Fund and Derayah Financial.
The bank plans to complete the funding round in the first quarter of 2026, focusing on expanding its services to small and medium-sized enterprises, aligning with the Kingdom’s Vision 2030 objectives.
To prepare for the funding round, D360 Bank has appointed former JPMorgan banker Mohammed Nazer as Chief Financial Officer to lead the process, with plans to appoint advisors to manage the round by the end of July.
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Currently serving over one million users, D360 Bank aims to increase its customer base to four million within the next four years, in preparation for a potential public listing.
The bank leverages data-driven strategies and modern technologies to enhance the Kingdom’s digital financial infrastructure, in line with Vision 2030 goals.
This initiative coincides with the Saudi Central Bank’s ongoing efforts to develop regulatory frameworks that support digital transformation in the financial sector, focusing on innovation and financial inclusion by granting licenses to new digital banks, aiming to modernize the Kingdom’s banking landscape and strengthen financial resilience.
