Saudi-Based Fintech SiFi Raises $20M in Series A Led by Ra’ed Ventures

In Riyadh, Saudi-based fintech SiFi has raised $20 million in a Series A funding round led by Ra’ed Ventures, with participation from QED Investors, Breyer Capital, MEVP, Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com. The round was announced on February 9th, 2026.

Operating through its Saudi-based affiliate Alhulul Almobassatah Financial Company, SiFi provides corporate cards, automated expense management, and vendor payment solutions to organisations across the Kingdom. The company reported more than fivefold growth in total payments volume in under a year and said its platform is now used by over 3,500 organisations, including private sector firms and government entities.

H.E. Ahmed Alhakbani, cofounder and chief executive officer of SiFi, said the company focuses on simplifying finance operations for organisations by reducing manual processes and operational friction, adding that the new capital will support continued product development and expansion.

Ra’ed Ventures’ founding partner Omar Almajdouie said the company has demonstrated strong execution in a fast-growing market, highlighting the founders’ operational focus and ability to deliver scalable solutions tailored to real customer needs.

The Series A follows a $10 million seed round, bringing SiFi’s total funding to more than $34 million. The company said the new investment will be used to expand its market presence, enhance AI-powered capabilities for finance teams, and add new workflows as it develops toward a full-suite finance management platform.