Saudi Arabia-based fintech SiFi, operating under the Simplified Financial Solutions Company, has successfully closed a $20 million Series A funding round. The round was led by prominent regional investor Ra’ed Ventures, with significant participation from a global and local syndicate of investors.
The round also saw participation from leading global fintech investor QED Investors and returning backer Breyer Capital. They were joined by regional firm MEVP and a strong contingent of local investors including Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com. This investment brings SiFi’s total funding to over $34 million.
Fueling Expansion in the Kingdom
SiFi intends to deploy the new capital to accelerate its growth within the Saudi market, which has already seen the company serve over 3,500 organizations. The funds will be allocated to deepening its AI-powered capabilities for finance teams and layering additional workflows as it evolves into a full-suite finance management platform.
The company’s platform provides businesses with comprehensive tools to issue virtual and physical corporate cards, manage spending, automate expense reporting, and streamline vendor payments, giving finance teams unprecedented control and real-time visibility over corporate expenditures.
Rapid Market Traction
Since its founding in 2021 by Ahmed Alhakbani, SiFi has demonstrated significant momentum, growing its total payments volume by more than 5x in less than one year. The platform has become a critical tool for a wide range of clients, from leading private sector companies to major government entities across the Kingdom.
A Vision for Simplified Finance
Commenting on the round, H.E. Ahmed Alhakbani, Co-founder and CEO of SiFi, emphasized the company’s client-focused strategy. “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.”
Investor Confidence
Omar Almajdouie, Founding Partner at Ra’ed Ventures, highlighted the firm’s belief in SiFi’s potential and leadership. “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.”
About SiFi
SiFi is a spend management platform designed to provide finance teams with seamless control over corporate spending. The platform combines corporate cards, automated expense management, and vendor payments into a single solution that empowers organizations to gain real-time visibility, enforce spending policies, and ultimately simplify finance.
Source: Jawlah
