SiFi Expands with Acquisition of Neya Technologies, Strengthening Its B2B Expense Management Capabilities

SiFi Expands with Acquisition of Neya Technologies, Strengthening Its B2B Expense Management Capabilities

Simplified Financial Solutions Company (“SiFi”), an affiliate of SiFi AlHulul Almubassatah, a Saudi Arabian EMI-licensed entity, has successfully completed the acquisition of Neya Technologies, a Dubai-based B2B expense management platform. Founded in 2023, Neya Technologies had been operating in stealth mode prior to this acquisition.

With this strategic move, SiFi reinforces its mission to simplify financial management for organizations. The acquisition brings on board Neya Technologies’ leadership team, with Rami Panayoti and Mohammed AlMughrabi joining SiFi as Co-founders.

  • Rami Panayoti has been appointed as Chief Business Officer (CBO). A computer engineer by background, he brings over a decade of experience spanning venture capital, consulting, and technology. Before founding Neya, he played key roles at Middle East Venture Partners (MEVP), one of MENA’s leading VC firms, and Bain & Company, where he spearheaded strategic initiatives in financial services and government sectors in Saudi Arabia.
  • Mohammed AlMughrabi joins as Chief Technology Officer (CTO). With more than 20 years of experience in technology and fintech, Mo previously founded OBytes, a software development company that contributed to leading platforms such as Ramp, Paribus Co., Nuvocargo, Give, and Pawp. His expertise in building scalable technology solutions for North American companies will be instrumental in SiFi’s continued growth.

The acquisition also brings Neya Technologies’ talented engineering team to SiFi, further enhancing its capability to build cutting-edge financial solutions for businesses worldwide.

This latest milestone builds on SiFi’s remarkable progress since its commercial launch in Q2 last year, which includes:

  • Securing a Major EMI license from the Saudi Central Bank (SAMA)
  • Serving 500+ leading Saudi businesses across multiple sectors
  • Becoming the first fintech authorized for government expense management through a partnership with the Ministry of Finance, Saudi Arabia
  • Launching Apple Pay integration and domestic transfer capabilities
  • Introducing exclusive technology partnerships, providing customers with SAR 2M+ worth of savings on platforms like Notion, Airtable, and AWS

“Over the past 10 months, I’ve had the privilege of working closely with Rami, Mo, and the Neya Technologies team, witnessing their commitment to excellence and our shared vision for the future of business finance,” said [Name], [Designation] at SiFi. “This acquisition marks a significant step in our journey to simplify finance for organizations, and we are just getting started.”

SiFi remains committed to its mission, with several exciting developments on the horizon as it continues to reshape the financial landscape for businesses across the region.

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