SoftBank has made its first direct investment in Saudi Arabia, injecting capital into Unifonic as the company looks to expand internationally.

Unifonic, the Saudi Arabia-based cloud communication technology developer, raised $125m in a series B round co-led by telecommunications and internet group SoftBank’s Vision Fund 2 and investment firm Sanabil Investments.

The deal marks the first direct investment for SoftBank in the country, according to DealStreetAsia.

Unifonic provides technology that allows organisations to build in cloud communication capabilities like messaging, voice calls and web access into their systems to engage with customers. Since its launch, these have included online banking through…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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