Simplified Financial Solutions Company, operating under the brand 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, bringing its total funding to more than $34 million as the company scales its spend management platform across Saudi Arabia.
Building a Unified Spend Management Platform
SiFi delivers an integrated solution that combines corporate cards, automated expense management, and vendor payments into a single platform. Through its Saudi-based affiliate Alhulul Almobassatah Financial Company, the company enables instant corporate card issuance and direct vendor payments. The platform is designed to give finance teams real-time visibility, stronger policy enforcement, and streamlined financial workflows.
The company reports strong growth momentum over the past year, with total payments volume increasing more than fivefold in less than twelve months. SiFi now serves over 3,500 organizations across the Kingdom, including major private sector firms and government entities. This traction reflects rising demand for digital financial infrastructure in Saudi Arabia’s evolving business landscape.
Leadership Perspective and Investor Backing
H.E. Ahmed Alhakbani, Cofounder and CEO of SiFi, said the company’s expansion is rooted in a focus on solving real operational challenges for finance teams. He emphasized that the new funding will support the development of practical, high-impact solutions that simplify financial management. According to Alhakbani, customer-centric execution has been central to the company’s growth trajectory.
Omar Almajdouie, Founding Partner at Ra’ed Ventures, highlighted the company’s operational discipline and clarity of vision. He noted that SiFi operates in a rapidly expanding market and has demonstrated consistent execution. Almajdouie added that the strength of both new and existing investors reinforces confidence in the company’s next phase of growth.
Expanding AI and Product Capabilities
With the Series A capital, SiFi plans to broaden its market reach and deepen its AI-powered capabilities. The company intends to introduce additional finance workflows and enhance automation tools, positioning itself as a comprehensive finance management platform. Advanced analytics and intelligent controls are expected to play a larger role in enabling organizations to optimize spending decisions.
Saudi Arabia’s broader push toward digital transformation provides a favorable backdrop for SiFi’s expansion strategy. As enterprises modernize their financial operations, integrated spend management platforms are becoming increasingly essential. SiFi’s continued product development aligns with these national and corporate priorities.
The $20 million Series A marks a significant step in SiFi’s growth journey and signals strong investor confidence in its model. Backed by a mix of global fintech specialists and regional institutional investors, the company is well positioned to scale further within the Saudi market. As it strengthens its product suite and expands its footprint, SiFi aims to play a central role in redefining how organizations manage and control corporate spending.