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[FUNDING NEWS] Saudi Arabia-Based fintech Simplified Financial Solutions Company SiFi Secures $10 Million in Seed Funding

SiFi, a Saudi fintech, raised $10 million in Seed funding. The investment was led by Sanabil Investments, a PIF-owned company, and RAED Ventures, with significant investors like anb seed, Rua Ventures, Byld, and KBW Ventures. Previous investors Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com are also involved.

SiFi, a Saudi fintech, raised $10 million in Seed funding. The investment was led by Sanabil Investments, a PIF-owned company, and RAED Ventures, with significant investors like anb seed, Rua Ventures, Byld, and KBW Ventures. Previous investors Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com are also involved.

Ahmed Alhakbani founded SiFi in 2021 as a B2B expenditure management platform that delivers smart corporate cards, real-time spend information, and automated expense management procedures.

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The company may expand its capabilities and become Saudi Arabia’s top spend management solution with this finance.

SiFi completed its $10 million seed round. The investment was led by Sanabil Investments, a PIF-owned company, and RAED Ventures, with significant investors like anb seed, Rua Ventures, Byld, and KBW Ventures. Previous investors Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com are also involved.

Read also – India-Based Infra.Market Secures $50 Million in Funding

It was founded in 2021 to streamline finance administration for all businesses. SiFi, Saudi Arabia’s top spend management technology, delivers smart corporate cards, real-time expenditure data, and automated expense management workflows to streamline the entire spend management process.

“We are thrilled to have closed this significant round and gained the support of such prominent and strategic partners. This funding will enable us to further enhance our offering, deliver even greater value to our customers, and cement our position as the go-to spend management solution in Saudi Arabia,” said H.E. Ahmed Alhakbani, Founder and CEO of SiFi. “Our aim is to empower stakeholders within companies to make informed decisions at the right time while providing finance teams with the tools they need to effectively enforce company spending policies. By doing so, we aim to help businesses decentralise spending while enhancing control and driving growth.”

Alhulul Almobassatah Financial Company, it’s Saudi affiliate, acquired an EMI licence from the Saudi Central Bank. This lets the organisation offer e-wallets for money storage and management. These capabilities allow SiFi to transform financial management, helping companies make smart decisions, optimise spending, and expand like never before.

About Sifi

Sifi encourages spend efficiency as an all-in-one financial management solution.

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