Cashin Secures $16M Series A to Digitize Saudi Energy Finance

CashIn's Co-Founders: Omar Alrammah, Abdulkarim Zrik, and Obay AlMadi

Saudi Arabia’s Cashin platform, which specializes in energy finance solutions, raised 60 million riyals (about US$16 million) in an investment round (Series A), led by Impact46.

The new funding will be dedicated to accelerating the digitization of plants and the development of analytics and integration technologies with regulators, operational and supply chains. Cashin aims to leverage this investment to continue to grow and boost its share of the energy services market.

Founded by Omar Al-Rameh and Abdulkarim Zreik Al-Akhdi, Cashin aims to enable gas station operators to manage their financial and operational operations by connecting operational and financial systems within a single AI-based platform.

The company serves local and international operators including Aramco, Total and Gulf, and has partnerships with stc and a number of Saudi banks.

Basma Al-Sahlaidi, Managing Partner at Impact46, said that the reinvestment in Cashin was the result of the Fund’s confidence in the team and the potential for growth in the sector. Omar Al-Ramha, co-founder and CEO, added that the tour’s investment will contribute to product development, expansion of operations and meeting the changing needs of the energy sector in the Kingdom.

Source: Jawlah