Saudi-based peer-to-peer (P2P) financing platform moneymoon has successfully closed a SAR 11 million (approximately $2.93 million) Pre-Series A funding round. The investment was led by Core Vision Investment, with participation from a consortium of family offices and angel investors.
A New Approach to Micro-Financing
Moneymoon is carving a niche in the Kingdom’s burgeoning fintech sector by offering a platform for individual-to-individual lending. The service provides swift, short-term financing solutions for individuals seeking small cash amounts, ranging from SAR 1,000 to SAR 5,000. The platform streamlines the borrowing process by offering instant approvals and eliminating the need for extensive documentation, directly addressing the need for accessible, hassle-free micro-loans.
Shariah-Compliant Investment Opportunities
On the other side of the transaction, moneymoon provides an accessible avenue for individuals to enter the investment space. The platform allows users to invest by funding loans for others, in turn generating short-term returns. All transactions and products on the platform are structured to be fully compliant with Shariah principles, a critical feature for the regional market. The company operates under the regulatory supervision of the Saudi Central Bank (SAMA) within its legislative sandbox.
Strategic Capital for Expansion
The funding round was spearheaded by Core Vision Investment, a Riyadh-based firm focused on backing founders in their early to Pre-Series A stages. This strategic investment signals strong confidence in moneymoon’s model and its potential to scale its P2P lending and investment services across the region.
About moneymoon
Founded in Saudi Arabia, moneymoon is a pioneering financial technology company specializing in peer-to-peer (P2P) financing. As a platform authorized by the Saudi Central Bank under its legislative sandbox, it connects individuals seeking short-term micro-loans with investors looking for Shariah-compliant, short-term returns. The platform is designed to provide a seamless, quick, and digital-first experience for both borrowers and investors.
Source: Fintech Saudi
