Mala raised $7 million in a pre-seed funding round led by VentureSouq and Shorooq Partners to address credit challenges for SMEs in Saudi Arabia.
Amount Raised
$7 Million
Round Type
Pre-Seed
RiyadhFinancial ServicesFintechLendingInvestors
Description
Mala, Saudi Arabia's first B2B 'Procure-Now, Pay-Later' platform, has secured $7 million in pre-seed funding. The funding aims to help SMEs tackle long-standing credit challenges by providing flexible payment terms while ensuring suppliers receive upfront payments.
Quick answer
Mala raised $7 Million in a Pre-Seed round, dated October 20, 2024. Investors: Shorooq Partners and VentureSouq. Mala is based in Riyadh, Riyadh Region, Saudi Arabia.
- How much did Mala raise?
- Mala raised $7 Million in a Pre-Seed round on October 20, 2024.
- Who invested in Mala?
- Shorooq Partners and VentureSouq are named as investors in this round.
- What does Mala do?
- Mala is Saudi Arabia’s first B2B Procure-Now, Pay-Later platform, founded in 2024 by Musaab Hakami.
- Where is Mala based and how big is it?
- Mala is based in Riyadh, Riyadh Region, Saudi Arabia.
- Who are the decision-makers at Mala?
- Fundz holds 1 contact at Mala. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Fintech around the same time
Companies in the same sectors as Mala that raised within 45 days of this round, from Fundz verified event records.
- KPay raised $55M (Series A) on December 3, 2024.
- OpenTrade raised $4M (Seed) on November 27, 2024.
- Habitto raised $12M (Series A) on November 27, 2024.
- Fagura raised $1M (Seed) on November 22, 2024.
- OpenYield raised $7M (Funding Round) on November 21, 2024.
- Beeline Holdings raised $1.6M (Series A) on November 14, 2024.
Who to call at Mala, and when
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- An alert the day Mala raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Mala, from your own LinkedIn network
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Related People
Mala raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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