In a significant advancement for sustainable finance, Fils, a leader in ESG-focused financial technology, has announced a partnership with Madkhol, a Saudi-based platform renowned for its Robo-advisory investment services. The official signing took place at the esteemed 24 Fintech event, underscoring the importance of this collaboration for both companies and the broader financial landscape in the region.
This partnership empowers Madkhol’s customers to easily invest in carbon credits, enabling them to actively offset their carbon footprint directly through the platform. By integrating Fils’ sustainability stack, Madkhol is setting a new benchmark for capital market fintechs in Saudi Arabia and beyond, facilitating impactful climate action within investment portfolios.
The collaboration is strategically aligned with Saudi Arabia’s Voluntary Carbon Market (VCM) initiative. By leveraging Fils’ sustainability infrastructure, users can engage in the carbon credit market with transparency, trust, and integrity—elements that are essential for building a robust ecosystem for ESG investments.
Insights from Leadership
Nameer Khan, CEO of Fils, emphasized the timeliness of this partnership: “Our collaboration with Madkhol comes at a critical moment when sustainable finance is increasingly becoming a cornerstone of capital markets. Saudi Arabia’s VCM initiative is paving the way for transformative change in the region. Together, we are enabling users to make investments that yield returns while also fostering a sustainable future. This partnership reinforces Fils’ commitment to transparency and trust—key components in creating a credible solution in the sustainability sector.”
Khan further highlighted the pressing need for climate investment, stating, “The global challenge of achieving $9.2 trillion annually in climate investments requires leadership from key industries, with capital markets at the forefront. Fils’ integrity-driven platform ensures businesses and investors can confidently participate in carbon markets, promoting a more sustainable world.”
Saad bin Atyan, CEO of Madkhol, reiterated the company’s commitment to innovation: “At Madkhol, we strive to offer our customers innovative and responsible investment solutions. Partnering with Fils elevates our platform by integrating carbon credit investments, providing our customers a practical method to offset their emissions. The signing of this partnership at 24 Fintech signifies our dedication to pioneering sustainable fintech in Saudi Arabia.”
Seamless Integration for Sustainable Investing
Utilizing Fils’ comprehensive API-driven sustainability stack, Madkhol customers can now access various carbon credit projects, ensuring transparent reporting and alignment with environmental goals. This seamless integration not only supports individual investment decisions but also aligns with Saudi Arabia’s Vision 2030 objectives aimed at promoting sustainability and reducing carbon emissions.
Ahson Saeed, Partner of Strategy & Commercials at Fils, encapsulated the vision behind this partnership: “At Fils, we believe the future of finance transcends mere returns; it encompasses responsible, impactful investments. Our collaboration with Madkhol exemplifies this vision, combining cutting-edge technology with a deep commitment to sustainability. By integrating carbon credit investments into everyday financial decisions, we empower investors to take meaningful actions toward a greener future. This partnership represents a new chapter in sustainable finance, in harmony with Saudi Arabia’s ambitious climate goals and the global shift towards ESG-driven growth.”
This partnership marks a pivotal moment in the evolution of sustainable finance, setting a promising precedent for future innovations in the sector.
