Led · Series A · Sep 2024

Malaa offers a wealth management platform that helps individuals and organisations improve financial decision-making through data-driven financial products and services. The company plans to launch a new range of investment and savings products along with additional features and services funded by its recent raise. Malaa was founded in 2021 by Ali Aloraini and Faisal Alqarni and is headquartered in Saudi Arabia. Prior to the Series A, the company raised $1.7M in a March 2022 seed round from regional investors. The platform serves both individual and organizational customers and positions itself around improving financial planning and product access. Current public reporting on operating metrics (revenue/users) was not provided in the article.

Led · Series C · Dec 2023

Tamara is Saudi Arabia’s first homegrown fintech unicorn, providing buy now pay later (BNPL) services and other payment solutions. Founded in 2020 by Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Albabtain, the company enables consumers to split purchases while merchants receive immediate payment. The platform has amassed more than 20 million customers and is integrated with over 87,000 merchants across the region. Management intends to leverage this scale to build a "customer-centric financial super-app," adding new credit and payment products in alignment with Saudi Vision 2030. Tamara finances its lending through large asset-backed facilities and earns revenue from merchant fees and consumer charges. In December 2023, it closed a $340 million Series C round at a valuation above $1 billion. The newly announced $2.4 billion facility materially increases the company’s lending capacity and supports its regional expansion plans.