Nqoodlet, the Saudi-based fintech platform transforming SME financial management, has successfully closed a $3 million seed round, signaling a major leap forward in empowering small and medium businesses across the Gulf.
The round was led by Waad Investments, with participation from OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, and other strategic investors. The funding marks a pivotal milestone for Nqoodlet’s mission to eliminate financial chaos and equip SMEs with seamless digital financial tools.
Founded by Mohamed Milyani and Yara Ghouth, Nqoodlet offers a unified platform that provides smart corporate cards, real-time expense tracking, financial automation, and an SME service hub. This all-in-one system enables businesses to streamline their operations and focus on growth—not paperwork.
Since its inception, Nqoodlet has supported over 600 SMEs across the region, helping them achieve financial clarity. Clients have reported up to 80% improvement in operational speed and annual savings of 200,000 SAR on average, adding up to more than 80 million SAR in collective expense management efficiencies.
SMEs remain the backbone of the regional economy but often face outdated compliance processes, fragmented financial tools, and lack of visibility. Nqoodlet is tackling these pain points by building the region’s first true Financial Operating System for SMEs, offering:
- Clarity: Real-time, transparent financial insights.
- Control: Complete accountability over spending.
- Efficiency: Automated expense management, VAT filing, bookkeeping, and planning.
- Resilience: Compliance, fraud protection, and risk management.
- Strategic Growth: Smarter financial governance to unlock new business opportunities.
“At its core, Nqoodlet is not just about managing money — it’s about giving SMEs the clarity, control, and confidence to scale faster and stress less,” said Mohamed Milyani, CEO and Co-founder.
He added, “SMEs here have been overlooked for too long. This funding gives us rocket fuel to go faster, build deeper bank partnerships, and deliver the financial clarity thousands of businesses deserve.”
Yasser Alghamdi, Chief Investment Officer at Waad Investment, commented:
“We chose to lead Nqoodlet’s seed round because we believe they’re building not just a product, but a whole new future for fintech in the region.”
He praised the leadership of Milyani and Ghouth, noting their ability to transform SME challenges into “smart, advanced, and easy-to-use solutions,” backed by a strong focus on product excellence and seamless tech integration.
With this funding, Nqoodlet plans to:
- Expand its banking infrastructure across Saudi Arabia and the Gulf.
- Launch new product modules, including open banking integration, automated tax reporting, and advanced planning tools.
- Accelerate partnerships with banks, telecoms, and ecosystem players.
- Hire top regional talent across tech, finance, and customer success.
- Double down on its mission to make finance effortless for SMEs.
Yara Ghouth, Co-founder, remarked:
“This isn’t just a funding round — it’s a statement: The GCC is ready for the next generation of fintech. We’re here to make sure every business—from startup to scale-up—has access to fast, intuitive tools built for growth.”
