MoneyMoon, Saudi Arabia’s first Sharia-compliant peer-to-peer (P2P) lending platform, has raised $2.9 million (SAR 11 million) in a pre-Series A funding round.
The round was led by Core Vision and also saw participation from family offices and angel investors. This funding will help MoneyMoon grow and expand its services.
MoneyMoon provides short-term loans with quick approvals and gives investors flexible ways to invest.
It uses machine learning to check how trustworthy borrowers are, making sure loans are fast while still keeping investors safe.
The company wants to help more people access financial services and make banking easier through safe and modern digital solutions.
This goal matches Saudi Vision 2030, which focuses on growing the financial sector and supporting new ideas in the country.
MoneyMoon was started in 2023 by Abdulmajeed Alaskar.
It works under the Saudi Central Bank’s regulatory sandbox, which allows new financial ideas to be tested safely.
MoneyMoon is the first platform in Saudi Arabia and the region to offer direct, Sharia-compliant peer-to-peer (P2P) lending using a Murabaha-based financing system.
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