Founded in 2022 by Abdullah Al-Ibrahim, Ahmed Al-Wusheel, and Anas Al-Shaqir, Madfu provides a fully licensed, interest-free BNPL solution that lets shoppers split purchases into as many as six payments without hidden fees. The platform plugs directly into merchants’ checkout systems, improving conversion rates and fostering customer loyalty while remaining compliant with Islamic finance principles and Saudi Central Bank (SAMA) regulations. Madfu’s transparent model targets the rapidly growing e-commerce market in Saudi Arabia, where flexible payment options are increasingly demanded. With its SAMA licence, the company positions itself as a trusted provider in the Kingdom’s regulated fintech ecosystem. The newly raised capital will be used to expand its merchant network, strengthen operational infrastructure, enhance technology, and roll out additional Sharia-compliant financial products. Although specific revenue or user numbers are not disclosed, the company is focusing on scaling quickly to capture a larger share of the local BNPL market.

Total raised

$25M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2026