Moyasar Closes Seed Investment Round

The Saudi-based fintech Moyasar has completed a seed investment round, which included Derayah Ventures Fund and was worth SAR 78.75 million ($21 million). ^[1]  

Moyasar was established in 2016 with the aim of developing the field of financial technology and providing digital payment solutions. Later, the company obtained a license as a payment services provider from the Central Bank of Saudi Arabia in 2002.

The company has designed and developed a variety of financial payment products to enable stores and electronic platforms to manage all payment requirements digitally, including electronic payment portals, billing services, subscriptions, settlement of payments on electronic platforms, and management of payments in partnerships with national and international payment networks.

The investment will support Moyasar in creating new solutions that serve private companies and government institutions in their digital financial transactions.