Saudi Arabia based fintech Simplified Financial Solutions Company (SiFi) has secured $20 million in a Series A funding round, led by Ra’ed Ventures. The round also attracted participation from global and regional investors including QED Investors, Breyer Capital, MEVP, Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com, underscoring growing institutional interest in enterprise spend management solutions in the Kingdom. This raise brings SiFi’s total funding to more than $34 million, following a $10 million seed round closed in 2024.
Operating through its Saudi based affiliate Alhulul Almobassatah Financial Company, SiFi provides a unified spend management platform that integrates corporate cards, automated expense management, and vendor payments into a single digital system. The platform is designed to give finance teams real time visibility over spending, stronger policy enforcement, and more streamlined financial workflows across organizations. As highlighted in SiFi’s own announcement on its website, the company has seen rapid adoption over the past year, increasing total payments volume by more than 5x and now serving over 3,500 organizations across Saudi Arabia, including private sector firms and government related entities.
The freshly raised capital will be deployed toward expanding SiFi’s footprint across the Kingdom, strengthening its technology stack, and deepening its AI powered capabilities for finance teams. The company has indicated plans to roll out additional financial workflows that move it closer to becoming a full suite finance management platform rather than a standalone spend tool. SiFi aims to tackle persistent operational challenges faced by corporate finance departments, particularly around manual reconciliation, fragmented payments, and lack of centralized financial control.
SiFi’s growth comes amid increasing demand for modern spend management platforms across the GCC, where companies are shifting away from legacy accounting processes toward integrated, real time financial systems. Comparable players in adjacent markets, such as Ramp and Brex in the U.S., have similarly scaled rapidly by combining corporate cards, expense tracking, and analytics into single platforms , a trend now gaining momentum in Saudi Arabia as digital transformation accelerates across enterprises.
