Riyadh: Saudi Arabia-based fintech startup Muhlah has successfully closed a SAR 28.25 million (approximately $7.5 million) Seed investment round to accelerate the growth of its Shariah-compliant consumer microfinance platform.
The round was led by BIM Ventures and Japan’s SBI Holdings, with participation from Al Suhaimi Holding Group and Fakhr Investment Holding Company.
The investment will support Muhlah’s expansion and strengthen its ability to deliver Shariah-compliant consumer microfinance solutions, enabling individuals to access financing tailored to their financial needs while keeping pace with the rapidly growing fintech ecosystem in the Kingdom.
Muhlah specializes in consumer microfinance, providing financing products designed to enhance financial inclusion and support underserved individuals. The company is also part of the venture-building ecosystem operated by BIM Ventures, which focuses on developing and scaling innovative startups in Saudi Arabia.
The investment follows a broader collaboration announced in 2024 between BIM Ventures and SBI Holdings, supported by the Ministry of Investment of Saudi Arabia, aimed at establishing joint ventures and managing investment funds to support the Kingdom’s innovation and startup ecosystem.
Muhlah operates under a license from the Saudi Central Bank and is among 70 finance companies regulated by the authority. It is also one of only 12 companies licensed to provide consumer microfinance services in the Kingdom.
The transaction highlights the growing investor confidence in Saudi Arabia’s fintech sector, supported by the Kingdom’s regulatory frameworks and national initiatives under Saudi Vision 2030, which continue to foster an attractive environment for financial innovation and entrepreneurship.
