Morni Secures Strategic Backing from STV’s NICE Fund to Accelerate Digital Transformation
STV, the largest independent technology investment firm in MENA, has announced a new investment in Morni, a Saudi automotive services platform, through its newly launched $100M NICE Fund.
Founded in 2015 by Salman Al-Suhaibani, Morni is a technology-first mobility platform aiming to reinvent the automotive services industry in Saudi Arabia.
The undisclosed investment will support Morni’s transition from a roadside assistance provider to an end-to-end automotive ecosystem, encompassing:
- Roadside assistance
- Car auctions
- Third-party insurance claims management (TPA)
- A national workshop network
- Spare parts recycling facilities
With its in-house technology center, Morni is building a smart, comprehensive system serving drivers, insurers, and partners across the full vehicle ownership lifecycle.
Key recent milestones include:
- Expansion into the UAE market
- Scaling its digital workshop network to 75 locations
- Strategic leadership appointments and team doubling
Salman Al-Suhaibani, Chairman and CEO of Morni, stated:
This partnership with STV marks a pivotal moment for us… Backed by STV and the flexible NICE fund structure, we’re accelerating sector-wide transformation and contributing to Saudi Arabia’s Vision 2030.“
Abdulrahman Al-Aqeel of STV added:
Morni is not only addressing current needs but also building a tech-enabled infrastructure to redefine the vehicle ownership experience. We believe in their ability to lead regional transformation.
This partnership reflects a shared ambition to build a more advanced, connected, and sustainable automotive sector aligned with Vision 2030.
