Madfu Raises $25.5M Pre-Series A to Scale BNPL in Saudi Arabia

Ahmad Alwosheel, Madfu Co-Founder and Board Member

Saudi fintech startup Madfu has raised more than SAR 95 million ($25.5 million) in a Pre-Series A investment round, marking a significant milestone in its growth journey within the Kingdom’s digital payments sector. As per the company’s press release, this round was led by Afaq Capital, with participation from a group of angel investors, and aligns with the company’s 2025 strategic roadmap aimed at strengthening its presence in Saudi Arabia’s fintech ecosystem.

Madfu specializes in buy now, pay later (BNPL) solutions, offering Shariah-compliant deferred payment services designed to enhance transparency and eliminate hidden fees. The platform currently serves multiple commercial sectors, supporting merchants while providing consumers with secure and flexible digital payment options.

Abdullah Alibrahim, Co-Founder and Chairman of Madfu, said the new funding will support the company’s operational expansion and reinforce its market position in digital payment solutions. He added that the round reflects the board-approved strategy focused on scaling the business and broadening adoption across the Kingdom.

Meanwhile, Ahmad Alwosheel, Co-Founder and Board Member, noted that the investment will enable Madfu to meet the growing demand for deferred payment solutions and expand into additional sectors, offering individuals safe and Shariah-compliant payment alternatives.

Saleh Al-Saeeri, CEO, added that the successful close will allow the company to expand its merchant network, strengthen strategic partnerships with key ecosystem players, and develop new financing products tailored to local market needs.

Source: Sharikat Mubasher