- Madfou’ Announces the Closing of a $25.5 Million Pre-Series A Funding Round
- The round was completed with participation from Afaq Financial Fund and a group of angel investors, aiming to expand the company’s digital operations in the Saudi market and strengthen its Buy Now, Pay Later (BNPL) services.
Madfou’ Saudi Arabia, a company specializing in Buy Now, Pay Later (BNPL) services, has raised $25.5 million after closing a Pre-Series A funding round, with participation from Afaq Financial Fund and a number of angel investors.
The round aims to support the company’s expansion plans within the Kingdom.
Madfou’ is targeting the expansion of its financing and operational activities, including the development of its partner merchant network in the Saudi market, in addition to investing in enhancing the efficiency of its digital solutions, in a way that supports the commerce and services sector.
The company plans to use the funding to drive operational expansion, further develop its network of partner merchants across the Kingdom, and continue investing in the advancement of its technologies and digital solutions to support the trade and services sector.
About Madfou’
Madfou’ was founded four years ago by Abdullah Al-Ibrahim, Ahmed Al-Wusheil, and Anas Al-Shaqeer. The company has obtained an official license from the Saudi Central Bank to provide BNPL services to individuals and various commercial sectors, offering flexible payment plans of up to six installments, without interest or hidden fees.
The company also works on providing payment tools designed to facilitate purchasing processes, reduce financial costs for customers, and offer greater support to merchants and service providers through flexible, easy-to-use, and secure digital payment solutions, in line with the Kingdom of Saudi Arabia’s direction in this area.
Madfou’ offers payment options designed to simplify purchasing and reduce financial burdens on consumers, while ensuring mutual value for both customers and merchants through secure and user-friendly digital payment solutions, in line with the rapid growth of the fintech sector in the Saudi market.
