• Saudi Arabia-based fintech MoneyMoon has raised $2.9 million in pre-Series A, led by Core Vision, joined by family offices and angel investors, to scale its P2P lending platform.
• Founded in 2023 by Abdulmajeed Alaskar, the company operates under SAMA’s sandbox and offers Sharia-compliant, Murabaha-based peer-to-peer financing.
• The funding will be used to enhance technology, expand access to instant short-term financing, and support Vision 2030 goals of financial inclusion and innovation.

Press release:

MoneyMoon, Saudi Arabia’s first Sharia-compliant peer-to-peer (P2P) lending platform, has closed its $2.9 million (SAR 11 million) pre-Series A round led by Core Vision, with participation from family offices and angel investors.

MoneyMoon offers short-term financing solutions with instant approvals and flexible investment opportunities, leveraging machine learning to accurately assess creditworthiness — balancing the speed of financing with investor protection.

The company aims to boost financial inclusion and deliver innovative, secure digital banking experiences, aligning with Saudi Vision 2030 objectives to grow the financial sector and foster innovation.

Founded in 2023 by Abdulmajeed Alaskar, MoneyMoon operates under the Saudi Central Bank’s regulatory sandbox, making it the first platform in Saudi Arabia and the region to enable direct, Sharia-compliant P2P lending through a Murabaha-based financing structure.