Riyadh - Sharikat Mubasher: Plug and Play Saudi Arabia revealed its investment in the UAE-based artificial intelligence (AI) fintech startup, Zypl.ai, specializing in smart financial technology.

In a statement, the company revealed that the investment is focused on Zypl.ai’s advanced application of AI-powered data to enhance credit risk models.

Zypl.ai’s innovative approach enables credit scoring for non-banking and informal sector customers in Saudi Arabia and the Middle East, by leveraging alternative data analysis.

Abdullah Alakeel, Regional Director of Plug and Play in Saudi Arabia, affirmed that partnership will play a crucial role in empowering local entrepreneurs and reshaping the innovation landscape in the Kingdom.

For his part, Azizjon Azimi, CEO and Founder of Zypl.ai, stated that the investment will boost the startup’s strategy to expand in Saudi Arabia.

Plug and Play fosters technological progress worldwide, providing startups with resources and networking opportunities across 50 locations globally.