Saudi fintech SiFi raises $20 million in Series A led by Ra’ed Ventures
News • February 9, 2026
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Saudi Arabia-based fintech Simplified Financial Solutions Company (SiFi) has raised $20 million in a Series A round led by Ra’ed Ventures. The round included participation from QED Investors, Breyer Capital, and MEVP, as well as local backers including Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb Capital, and Tech Invest Com. Founded in 2021 by Ahmed Alhaqbani, SiFi provides financial management solutions to startups and small and medium-sized businesses, including virtual and physical corporate card issuance, expense management, and expense reporting automation. The Series A follows a $10 million seed round and brings total funding to more than $34 million. The funding will be used to expand our market presence, deepen our AI-powered treasury capabilities, and add workflows towards a full-suite treasury management platform.
press release:
Simplified Financial Solutions Company announced a $20 million Series A funding round led by Ra’ed Ventures with participation from a diverse group of global and regional investors. The round includes participation from global investors, leading fintech investor QED Investors and existing backers Breyer Capital, as well as regional companies MEVP and existing local backers including Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb Capital and Tech Invest Com.
SiFi, through its Saudi-based affiliate Alhulul Almobassatah Financial Company (SiFi), powers Saudi Arabia’s leading spend management platform, providing control to finance teams through automation, real-time visibility, advanced analytics, and access to payment rails that enable instant issuance of corporate cards and direct payments to vendors. The company has seen great momentum, increasing its total payment volume more than five times in less than a year and now serves more than 3,500 organizations across the Kingdom, ranging from large private companies to major government agencies.
Commenting on the round, co-founder and CEO Ahmed Alhaqbani said, “Our growth is driven by customer obsession. We exist to take operational pain out of finance teams, and this funding allows us to continue building practical, high-impact solutions that truly simplify finance.”
Ra’ed “SiFi has demonstrated exceptional execution and strong momentum in a rapidly expanding market,” said Omar Almajidouye, founding partner at Ventures. With the support of 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 to do so. We support this amazing team. ”
The Series A follows a $10 million seed round that supported the company’s early product development and initial market entry, and brings total funding to more than $34 million. SiFi will deploy new funds to expand its market presence, enhance AI-powered capabilities for finance teams, and layer in additional treasury workflows as it evolves into a full-suite treasury management platform.
About Simplified Financial Solutions CompanySiFi is a spend management platform designed to help finance teams seamlessly manage corporate spending. The platform integrates corporate cards, automated expense management, and vendor payments into one solution, allowing organizations to gain real-time visibility, enforce spending policies, and ultimately simplify finances. For more information, please visit www.sifi.app.
