Saudi fintech startup Muhlah raises $7.5M seed round led by BIM Ventures and SBI Group to expand its Sharia compliant consumer financing platform.
Saudi fintech startup Muhlah has closed a $7.5 million seed funding round (SAR 28.25 million) to accelerate the development of its Sharia compliant consumer financing platform and expand its services across the Kingdom’s growing fintech market.
The round was led by BIM Ventures and Japan’s SBI Group, with additional participation from Al Suhaimi Holding Group and Fakhr Investment Holding Company. The investment reflects increasing global interest in Saudi Arabia’s regulated fintech sector and the rising demand for digital financial services that comply with Islamic finance principles.
Muhlah focuses on providing micro consumer financing solutions through technology-enabled platforms designed to make small scale financing more accessible for individuals. By combining fintech infrastructure with Sharia compliant financial structures, the company aims to offer responsible financing options that meet both regulatory standards and the needs of everyday consumers.
The startup was built through the venture building studio of BIM Ventures, a Saudi venture studio known for creating and scaling startups across different sectors. With the backing of its venture studio and international partners, Muhlah is positioning itself as part of a new generation of fintech platforms emerging from Saudi Arabia’s rapidly expanding innovation ecosystem.
According to the company, the newly raised capital will be used to expand its Sharia compliant financing capabilities and strengthen its operational infrastructure. Muhlah also plans to introduce additional funding mechanisms, including off-balance-sheet financing structures and partner-backed funding models, to scale its consumer financing offerings.
The investment also builds on a broader strategic partnership between BIM Ventures and SBI Group, first announced in 2024 with support from the Saudi Ministry of Investment. The partnership aims to foster joint ventures and investment initiatives that bring international capital and fintech expertise into Saudi Arabia’s startup ecosystem.
Muhlah operates within a highly regulated sector. The company has obtained a license from the Saudi Central Bank (SAMA) to provide micro consumer financing services using fintech, making it one of a relatively small number of companies authorized to offer such services in the Kingdom.
Saudi Arabia’s fintech sector has been expanding rapidly in recent years as part of the country’s Vision 2030 economic diversification strategy, which aims to build a stronger digital economy and increase financial inclusion. As demand grows for digital financing platforms that align with Islamic finance principles, startups like Muhlah are emerging to bridge the gap between traditional financial institutions and modern fintech solutions.
With fresh funding and international investor backing, Muhlah is now preparing to scale its financing platform and deepen its role in Saudi Arabia’s evolving fintech landscape, helping consumers access structured and compliant financing solutions through digital channels.
