WSM gets SAR 4M financing from Social Development Bank

20/05/2024 Argaam

WSM gets SAR 4M financing from Social Development Bank

Logo of WSM for Information Technology Co.

WSM for Information Technology Co. obtained, on May 1, SAR 4 million in funding from the Social Development Bank (SDB) to finance its new product, "Ofoq”, according to a statement to Tadawul.

 

The two-year loan, secured by a promissory note, will be used for capital expansion purposes, the statement added.

 

There are no related parties to the deal, WSM noted.

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