Saudi fintech Moyasar is preparing to enter the UAE after receiving in-principle approval for two payment licences from the Central Bank of the UAE.
The Riyadh-based company has secured preliminary approval for a Retail Payment Services Category II licence and a Stored Value Facilities licence, co-founder Basem Aljedai told Arabian Business. Moyasar currently serves more than 16,000 businesses, including government entities, large companies and SMEs.
The expansion is partly funded by Moyasar’s SAR78.75 million ($21 million) investment round in 2024, led by Jahez Group with participation from Derayah Financial and Sharaka Capital. The company said the funds are supporting regional licensing, platform development and workforce growth. It did not disclose how much has been spent or confirm plans for another funding round.
Founded in 2015, Moyasar said it has been profitable for the past three years and more than tripled net profit in 2025. It also claims to process more than 30% of Saudi Arabia’s online payments, although the figure could not be independently verified.
The company is also developing tools for business finance and “agentic commerce”, where artificial intelligence systems can complete purchases and transactions. Moyasar already holds a Major Payment Institution licence in Saudi Arabia and provides payment infrastructure to platforms operating across more than 10 MENA markets.
Source: Arabian Business
