Riyadh - Sharikat Mubasher: Falak Investment Hub, a fully-fledged investment firm supporting technology startups, signed a strategic memorandum of understanding (MoU) with The Insurtech, Saudi Arabia’s first specialized insurtech incubator and accelerator, to support the growth of the insurtech ecosystem in the Kingdom and the wider MENA region.
The agreement reflects a shared vision to support the sector’s digital transformation and contribute to the development of a stronger, more connected, and future-oriented InsurTech ecosystem across the region, Falak announced in a statement today.
Combining Falak Investment Hub’s robust presence within Saudi Arabia’s startup and investment landscape with The Insurtech’s specialized expertise in insurance innovation, the collaboration aims to contribute to a more dynamic environment for insurance innovation, one that supports the growth of founders, strengthens market readiness, and reinforces the Kingdom’s position as a growing hub for innovation in specialized and high-potential sectors.
Adwa Aldakheel, Founder and CEO of Falak Investment Hub, affirmed that the partnership with The Insurtech reflects a shared vision to support the evolution of the insurtech ecosystem and contribute to a more innovation-driven future for the insurance sector in Saudi Arabia and the region.
In turn, Aicha Ghaffari, CEO of The Insurtech, said: “Our partnership with Falak gives us the infrastructure and ecosystem reach to do what we do best —connect InsurTech founders, insurers, regulators, and investors. We have built programs across multiple MENA markets, and we know what it takes to move startups from concept to commercial traction. Saudi Arabia is our next major chapter, and we are entering this market with everything we have learned and with accumulated expertise in InsurTech.”
Moreover, the partnership underscores the importance of collaboration between ecosystem builders and sector-focused enablers in unlocking new opportunities for innovation, knowledge exchange, and long-term value creation.