- Saudi Arabia-based fintech Arib has raised $23.5 million in a funding round led by Merak Capital.
- The round included Sharia-compliant Murabaha financing facilities, highlighting growing demand for Islamic fintech and digital lending products in Saudi Arabia.
- Founded in 2018 by Omar Alhammad, Mohamed Dessouky, and Waleed Talat, Arib operates a digital financing marketplace connecting users with banks and licensed lenders.
- Arib plans to use the funding to strengthen its technology infrastructure, expand operations, and launch additional financing products for individuals and businesses.
- In 2022, Arib closed a $2.3 million seed round, led by Merak Capital.
Press release:
Arib, the Saudi digital financing marketplace, has raised $23.5 million in a funding round led by Merak Capital, as the company looks to expand its platform and strengthen its position within Saudi Arabia’s rapidly growing fintech sector.
The round also included Sharia-compliant Murabaha financing facilities, reflecting increasing investor appetite for Islamic fintech products and digital lending infrastructure across the Kingdom.
Founded in 2018 by Omar Alhammad, Mohamed Dessouky, and Waleed Talat, Arib operates a financing marketplace that connects users with banks and licensed lenders through a single digital platform. The company enables customers to compare financing offers and apply online based on their financial profiles and borrowing requirements.
Arib said the new funding will support the expansion of its technology infrastructure, accelerate product development, strengthen operational capabilities, and launch new financing products targeting both consumers and businesses.
The company is positioning itself to benefit from growing demand for faster and more flexible financing solutions among younger consumers, entrepreneurs, and SMEs in Saudi Arabia.
The funding also reflects broader momentum across Saudi Arabia’s fintech ecosystem, which is increasingly shifting toward infrastructure-focused startups in areas such as digital lending, embedded finance, and online onboarding.
The inclusion of Murabaha facilities in the round highlights the continued growth of Sharia-compliant digital financial products tailored to regional financing preferences.
As Saudi Arabia advances financial sector modernisation under Vision 2030, companies building digital financial infrastructure continue attracting investor attention as banks and lenders accelerate their digital transformation strategies.