Saudi Arabia–based fintech Simplified Financial Solutions Company (SiFi) has raised $20 million in a Series Afunding round led by Raed Ventures, with participation from QED Investors, Breyer Capital, MEVP, Sanabil Investments, Khawarizmi Ventures, SEEDRA Ventures, Rua Growth Fund, anb capital, and Tech Invest Com. The company’s total funding now exceeds $34 million.
Founded in 2021 by CEO Ahmed Alhakbani, SiFi provides corporate expense management software serving more than 3,500 businesses across Saudi Arabia. The platform supports employee compensation management, corporate card issuance, and supplier payments, with plans to expand into international remittances.
The new funding will support market expansion and further development of AI-powered financial workflows as SiFi evolves into a comprehensive enterprise finance management platform.
