Signit, a Riyadh-based provider of digital signatures and contract software, said on April 20, 2026 that it had closed a $15m Series A round led by Raed Ventures.
STV, Seedra Ventures, Takamol Ventures and Suhail Ventures also took part. The company did not disclose a valuation or how much it had raised before this round.
Signit said it would use the money to extend its product from electronic signing into the wider contract lifecycle, adding AI tools for drafting, negotiating and checking agreements for compliance.
“We started with digital signatures because that's where the market was. But signing is just one step in a contract's life.”Mohamed El Abbouri, Co-Founder and CEO, Signit
What Signit does
Founded in 2021, Signit lets organisations create, sign and manage agreements digitally, with signatures that are legally binding in Saudi Arabia. The company is licensed as a Trust Service Provider by the Saudi Digital Government Authority, the body that oversees digital trust services in the kingdom.
Signit says it serves more than 700 customers across government, financial services, healthcare and enterprise. Mohamed El Abbouri, its co-founder and chief executive, said the company began with signatures because that was where demand was, but that most of the time and cost in a contract sits before and after the signing step.
The company's blog post set the funding against a wider push by the Ministry of Communications and Information Technology to grow the digital economy, noting that Saudi Arabia has designated 2026 as its Year of AI.
Who invested
Raed Ventures led the round. Omar Almajdouie, its founding partner, said Signit had already built a strong e-signature business serving more than 700 customers across government and enterprise, and that the firm led the round because it believed the company could define the next phase of the market.
STV also invested. Dr Mazin Alzaidi, a general partner at STV, said the firm expected AI to change how contracts are created, negotiated and managed, and that Signit was building AI into the core of its product rather than adding it as a feature.
Seedra Ventures, Takamol Ventures and Suhail Ventures completed the list of named investors. None of the sources gave the size of individual cheques.
What the money is for
Signit plans to turn its signing product into a full contract lifecycle management platform, where a contract is drafted, negotiated, approved, signed and then tracked in one place. The funding will pay for AI-powered drafting, negotiation and compliance features.
The company also plans to build an AI contract assistant that gives employees a single place to find information held in their contracts and act on it. Part of the money will go into the certificate infrastructure that makes each digital signature legally valid.
El Abbouri said the aim was a single platform that stays compliant with local rules and fits how business is done in Saudi Arabia. The company did not give a timeline for the new products or say whether it planned to expand outside the kingdom.
The funding so far
Neither Signit nor the coverage reviewed for this article disclosed earlier funding rounds, the company's total capital raised or its headcount. Wamda, which reported the round on April 22, gave the same investor line-up and the same figure of more than 700 customers.
Signit's licence from the Digital Government Authority is central to its pitch: the company says its signatures are legally binding in Saudi Arabia and that its contract platform is being built to stay compliant with local rules.
Company website: signit.sa