Muhlah Closes Seven Point Five Million Dollar Seed Round Led by BIM Ventures and SBI Group

Saudi Arabia‑based fintech Muhlah Zamaniyah for Finance announced the closing of its seed investment round totaling twenty‑eight point two‑five million Saudi riyals, equivalent to seven‑point‑five million dollars, in a funding round led by BIM Ventures and Japan’s SBI Group.

The round also saw participation from AlSuhaimi Holding Group and Fakhr Investment Holding Company, underscoring growing investor confidence in Saudi fintech innovation.

Muhlah is a fully fintech‑enabled consumer microfinance company licensed by the Saudi Central Bank and spun out of the Riyadh‑based startup studio BIM Ventures. The company’s platform offers digital consumer financing that adheres to Shariah principles, subject to supervision by a Shariah committee, with the aim of enhancing financial inclusion across diverse segments of Saudi society.

The participation of SBI Group, one of Japan’s largest financial conglomerates, reflects a strategic business partnership with BIM Ventures that was formalized through a memorandum of understanding signed in May twenty‑twenty‑four with support from the Saudi Ministry of Investment.

This alliance includes the joint establishment and management of investment funds and is part of broader efforts to attract foreign direct investment into the Kingdom’s regulated financial sector.

Muhlah plans to use the new capital to expand its financing capacity through Shariah‑compliant structures, including off‑balance‑sheet arrangements and partner‑backed financing models, while exploring additional funding channels and international partnerships to support future growth.

According to Mohamed Amine Merah, managing partner and chief executive of BIM Ventures, the investment demonstrates the success of combining local market expertise with global financial resources, positioning Muhlah to bring world‑class fintech solutions to Saudi Arabia’s consumer finance sector.

Under the leadership of chief executive officer Abdulaziz AlRammah, Muhlah’s next phase will focus on scaling access to responsible, transparent, affordable, and sustainable Shariah‑compliant microfinance products for consumers across the Kingdom.

The deal highlights Saudi Arabia’s attractiveness to foreign capital in a well‑regulated financial ecosystem and aligns with national initiatives to deepen financial inclusion and diversify the economy, especially through technology‑driven solutions.