• Saudi Arabia-based fintech Simplified Financial Solutions Company (SiFi) has raised $20 million in a Series A round, led by Ra'ed Ventures.
• The round saw participation from QED Investors, Breyer Capital, MEVP, and local backers including Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com.
• Founded in 2021 by Ahmed AlHakbani SiFi offers startups and SMEs financial management solutions, including the ability to issue virtual and physical corporate cards, manage spending and automate expense reporting. 
• The Series A follows a $10 million seed round, bringing total funding to $34+ million.
• The funds will be used to expand market presence, deepen AI-powered finance capabilities, and add workflows toward a full-suite finance management platform.

Press release:

Simplified Financial Solutions Company has announced a $20 million Series A funding round led by Ra'ed Ventures, with participation from a diverse group of global and regional investors. The round includes global investors QED Investors, a leading fintech investor, and existing backer Breyer Capital, alongside regional firm MEVP and existing local backers including Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital and Tech Invest Com.

Through its Saudi-based affiliate, Alhulul Almobassatah Financial Company (SiFi), SiFi powers Saudi Arabia's leading spend management platform, giving finance teams control through automation, real-time visibility, advanced analytics, and access to payment rails that enable instant corporate card issuance and direct vendor payments. The company has seen significant momentum, growing total payments volume by more than 5x in less than one year, and now serves over 3,500 organizations across the Kingdom, ranging from leading private sector companies to major government entities.

Commenting on the round, H.E. Ahmed Alhakbani, Cofounder and CEO, said, "Our growth is driven by customer obsession. We exist to remove the operational pain finance teams live with, and this funding enables us to keep building practical, high-impact solutions that truly simplify finance." 

Omar Almajdouie, Founding Partner at Ra’ed Ventures, said: “SiFi has shown exceptional execution and strong momentum in a rapidly expanding market. What stands out most is the founders’ clarity of vision, operational excellence, and ability to consistently deliver—while building scalable solutions that solve real customer needs. Backed by a high-quality group of existing and new investors, SiFi is well-positioned to accelerate into its next phase of growth. We are proud to lead this round and look forward to continuing our support of this outstanding team.”

This Series A follows a $10 million seed round that supported the company's early product development and initial market entry, bringing total funding raised to over $34 million. SiFi will deploy the new capital to expand its market presence, deepen AI-powered capabilities for finance teams, and layer additional finance workflows as it evolves into a full-suite finance management platform.

About Simplified Financial Solutions CompanySiFi is a spend management platform designed to provide finance teams with seamless control over corporate spending. The platform combines corporate cards, automated expense management, and vendor payments into a single solution that empowers organizations to gain real-time visibility, enforce spending policies, and ultimately simplify finance.For more information, visit  www.sifi.app