Saudi Startup MoneyMoon Closes USD 2.9 Million Pre-Series A

Saudi Arabia-based fintech MoneyMoon has closed a USD 2.9 million (SAR 11 million) pre-Series A funding round, led by Core Vision with participation from family offices and angel investors. Founded in 2023 by Abdulmajeed Alaskar, MoneyMoon is the first platform in Saudi Arabia and the wider region to offer direct Sharia-compliant peer-to-peer (P2P) lending, operating under the Saudi Central Bank’s (SAMA) regulatory sandbox. The platform provides Murabaha-based short-term financing solutions, enabling instant approvals for borrowers while offering investors secure and flexible opportunities. By integrating machine learning-driven credit assessment tools, MoneyMoon aims to balance rapid access to financing with robust investor protection, addressing a key gap in the local financial market. This new round of funding will be used to enhance MoneyMoon’s technology infrastructure, broaden access to its instant financing services, and support driving financial inclusion and digital innovation in the Kingdom.