Saudi Tech Firm T2 Enters Fintech with Moola Acquisition
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The acquisition will boost T2 efforts to enter fintech market.
T2, a leading Saudi technology services and solutions provider, has announced from LEAP25 the acquisition of a majority stake in the Saudi startup platform, Moola.
The acquisition will enable T2 to enter the fintech market and expand its range of services and solutions to offer broader options to its clients within and beyond Saudi Arabia.
Commenting on the acquisition, a T2 spokesperson stated: "Moola provides a comprehensive expense management platform, which will help us to expand into the financial services sector and empower our clients with its capabilities. This acquisition aligns with our expansion strategy to acquire exceptional tech products and provide our partners with more solutions".
Founded in 2022 by Wasim Hamoud, Moola enables businesses to efficiently manage expenses and automate financial processes with transparency by providing solutions such as corporate business cards.
Wasim Hamoud, Founder and CEO of Moola, said: "We are excited to partner with T2 as we take Moola to new heights. The acquisition will allow us to enhance our services, support more businesses in optimizing their financial operations, and strengthen our position as a corporate expense management platform in Saudi Arabia.”
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