فريق إنت عربي
- Muhlah , a fintech company specializing in micro consumer financing, announced the closing of a $7.5 million seed funding round aimed at expanding Sharia-compliant financing solutions in Saudi Arabia
- The round was led by BIM Ventures and Japan’s SBI Group, with participation from Al Suhaimi Holding Group and Fakhr Investment Holding Company
- Muhlah plans to gradually expand its Sharia-compliant financing capabilities, including the development of off-balance-sheet financing structures, as part of its strategy to scale its consumer finance offerings in the Saudi market
Muhlah , a company specializing in micro consumer finance fintech solutions, has closed a seed funding round worth SAR 28.25 million (approximately $7.5 million) to support the growth of Sharia-compliant financing solutions in Saudi Arabia.
The round was led by BIM Ventures and Japan’s SBI Group, with participation from Al Suhaimi Holding Group and Fakhr Investment Holding Company.
As part of its growth strategy, Muhlah plans to gradually expand its financing capacity through Sharia-compliant financial structures, including off-balance-sheet financing arrangements and partner-backed funding structures.
The company is also exploring additional funding channels and international partnerships to support its expansion.
About Muhlah
Muhlah is a venture built out of the venture-building studio at BIM Ventures, aiming to deliver structured and scalable financing solutions while maintaining high standards of governance and regulatory compliance.
The company previously obtained a license from the Saudi Central Bank to provide micro consumer financing services using fintech, with a focus on offering financing products compliant with Islamic Sharia principles.
The funding round reflects the growing attractiveness of the Saudi market for foreign capital within a regulated financial sector.
The participation of SBI Group represents a direct foreign investment aimed at accelerating Muhlah ’s expansion and strengthening its ability to provide Sharia-compliant financing solutions.
The investment also builds on the strategic partnership between BIM Ventures and SBI Group, announced in May 2024 with the support of the Ministry of Investment of Saudi Arabia, which includes a strategic business alliance focused on joint venture creation and investment fund management.
Yoshitaka Kitao, Representative Director, Chairman, President, and CEO of SBI Group, said:
“BIM and SBI entered into a memorandum of understanding in May 2024, supported by the Ministry of Investment, regarding a strategic business alliance that includes joint venture creation and investment fund management”.
He add:
” This transaction represents one of the tangible initiatives implemented under that alliance.”
Meanwhile, Mohammed Amin Merah, Managing Partner and CEO of BIM Ventures, noted:
“Our partnership with SBI Group adds a unique blend of fintech expertise and access to Japanese and international capital markets to the consumer finance sector in Saudi Arabia.”
