Simplified Financial Solutions Company (Sifi) has raised $20 million in a Series A funding round. The round was led by Ra’ed Ventures and included both global and regional investors. Some of the key participants were QED Investors, Breyer Capital, MEVP, and local backers such as Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com.
Through its Saudi-based unit Alhulul Almobassatah Financial Company (SiFi), the company runs Saudi Arabia’s leading spend management platform. The platform helps finance teams manage company spending using automation, real-time tracking, smart data insights, and easy payment tools.
SiFi allows businesses to issue corporate cards instantly and make direct payments to vendors. This gives companies better control and visibility over their finances, helping them manage expenses more efficiently.
The company has grown rapidly, increasing its total payment volume by over five times in less than a year. Today, SiFi serves more than 3,500 organizations across Saudi Arabia, including large private companies as well as major government institutions.
Commenting on the round, H.E. Ahmed Alhakbani, Cofounder and CEO, said, “Our growth is driven by customer obsession. We exist to remove the operational pain finance teams live with, and this funding enables us to keep building practical, high-impact solutions that truly simplify finance.”
Omar Almajdouie, Founding Partner at Ra’ed Ventures, said: “SiFi has shown exceptional execution and strong momentum in a rapidly expanding market. What stands out most is the founders’ clarity of vision, operational excellence, and ability to consistently deliver—while building scalable solutions that solve real customer needs. Backed by a high-quality group of existing and new investors, SiFi is well-positioned to accelerate into its next phase of growth. We are proud to lead this round and look forward to continuing our support of this outstanding team.”
The Series A round comes after a $10 million seed funding round that helped the company build its product and enter the market. With this latest round, SiFi has raised over $34 million in total funding so far.
SiFi plans to use the fresh capital to grow its presence in the market, improve its AI-powered tools for finance teams, and add more finance features. The goal is to become a complete, all-in-one finance management platform.
SiFi is a spend management platform that helps companies control their business expenses easily. It brings together corporate cards, automated expense tracking, and vendor payments in one system, giving finance teams real-time visibility, better policy control, and a simpler way to manage finances.
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